Gold price development and current rate

A gold chart shows you the current gold price in euros and the gold price trend over time per kilogram or per ounce(1oz = 1 troy ounce). This gold spot reflects the price on the international gold market. While the London Gold Fix used to be the basis for gold trading, due to the high volatility of the gold price trend, it is now common for traders to use a gold spot that is updated every second and corresponds to the current market price of the precious metal. Gold is traded on the world market in dollars (XAU/USD), which is why the exchange rate between the dollar and the euro also plays a role in the gold price. A weak euro makes gold more expensive in the eurozone, while a strong euro lowers the price of gold in Germany and Austria.

Gold prices in purchase & sale

If you want to buy gold in Austria or sell gold in the form of investment gold (gold coins & bars) or scrap gold(gold jewelry, dental gold,...), prices of dealers are based on this general rate of the gold price.

However, even current prices for gold coins, gold bars and scrap gold differ both in gold buying and selling, because in addition to the gold rate, production and manufacturing costs, as well as melting and recycling costs must be included in the prices.

On our current prices page at Gold&Co. you will find our buying & selling prices of scrap gold, as well as of specific gold coins and gold bars.

The London World Market Price

While gold derivatives, futures and options(paper gold) are mainly traded in New York and Tokyo, physical gold is traded on the gold markets in London, Hong Kong and Zurich.

The largest market place is without doubt London, where the world market price for gold - in US dollars / ounce - is determined daily at the London Bullion Market. According to old tradition, London Goldfix was negotiated twice a day by 5 big banks of the London Bullion Market Association (LBMA). In the spring of 2015, the London Goldfixing was replaced by the "LBMA Gold Price". Since then, the price is no longer negotiated in a conference call, but determined by 15 participating major banks via an electronic auction platform.

However, the LBMA gold fix continues to be set 2x daily:

AM Fix: LBMA gold price in the morning at 10:30 am (GMT)
PM Fix: LBMA gold price in the afternoon at 15:00 (GMT)

The price at the afternoon gold fixing (PM fix) can be regarded as the daily price for gold, as this is also used by central banks to value their gold reserves.