Stay Updated with Gold Prices on Metals Radar

The chart above shows the live gold spot price per troy ounce in Australian dollars (AUD). Use it to follow the market before you buy or sell gold coins and bars.

Investors buy gold to spread risk across different assets and to hold something that does not depend on a single currency or company. Like any investment, its price goes up and down, so it pays to watch the trend.

Switch the chart range to see gold over one day, one month, three months, one year, five years or its full available history.

What is the gold spot price?

The spot price is the current market price of one troy ounce of pure gold for immediate delivery. Internationally it is quoted in US dollars; the chart on this page shows it in AUD. Coins and bars sell above spot because dealers add a premium for minting, distribution and their margin. Gold jewellery is usually worth less per ounce than the spot price, because it contains less pure gold (18-carat gold, for example, is 75% gold).

What is a troy ounce?

Precious metals are weighed in troy ounces. One troy ounce equals 31.1035 grams, slightly more than a standard ounce of 28.3495 grams. One kilogram is about 32.15 troy ounces.

The weight of investment gold coins and bars is given in troy ounces or grams. Coins usually range from 1/10 oz to 1 oz, and bars from 1 g to 1 kg.

Who sets the price of gold?

No single body sets the gold price. The spot price comes from continuous trading around the world, mainly in the London over-the-counter market and on futures exchanges such as COMEX in New York.

The best-known benchmark is the LBMA Gold Price. It is set twice each London business day, at 10:30 and 15:00 London time, in an electronic auction administered by ICE Benchmark Administration. The LBMA also keeps the Good Delivery List of refiners whose large bars meet its standards.

What drives gold prices?

Several factors push the gold price up or down:

• Supply and demand: Mine output changes slowly, so shifts in demand from investors, central banks and jewellers have a large effect on the price.
• Jewellery: Close to half of all the gold ever mined is held as jewellery, according to World Gold Council estimates. Jewellery buying is sensitive to price and tends to fall when gold is expensive.
• Central banks: Central banks hold gold as part of their reserves. Their large purchases in recent years have been one of the main sources of demand.
• Gold ETFs: Exchange-traded funds backed by physical gold buy metal when investors put money in and sell it when they withdraw, which can move the price.
• Interest rates: Gold pays no interest. When rates fall, holding gold costs less in lost income, which tends to support the price. Rising rates work the other way.
• US dollar and the Australian dollar: Gold is priced in US dollars, so a weaker US dollar usually lifts the gold price. For Australian buyers the exchange rate matters too: when the Australian dollar falls against the US dollar, gold costs more in AUD even if the US dollar price stays the same.

Is now a good time to buy gold?

Nobody can time the market reliably. Many investors hold gold as a long-term part of their portfolio because it has often kept its value when shares or bonds fell.

If you trade more actively, check the chart regularly and follow the factors above, such as interest rates and the exchange rate.

When you are ready to buy, Metals Radar compares the prices of gold coins and bars from Australian bullion dealers, so you can see who sells the product you want for the least.

Will gold prices go up or down?

Gold can move sharply, so every forecast is uncertain. Looking at how the price reacted to past economic and political events can help you form your own view. Use the five-year and full-history views on the chart to see the long-term trend in AUD.

Gold price records

In August 2020, during the COVID-19 pandemic, gold rose above USD 2,000 per ounce for the first time. Records kept falling after that: according to the World Gold Council, gold set 53 new all-time highs in 2025, and the LBMA Gold Price broke through USD 4,000 per ounce in October 2025. Use the long-term chart to see the latest highs in Australian dollars.

Gold bars or gold coins?

Bars and coins are the two most popular ways to buy physical gold. The main differences:

• Gold bars: Usually 99.99% pure, made by refiners and mints. Bars carry lower premiums over spot than coins, especially in larger sizes, which makes them a cost-effective way to buy more gold. A large bar cannot be sold in parts, so some investors split their purchase into several smaller bars. Well-known brands include PAMP Suisse, Valcambi, Argor-Heraeus and the Perth Mint.
• Gold coins: Bullion coins are mostly issued by government mints and are legal tender in their country. Some are 99.99% pure, such as the Australian Gold Kangaroo and the Canadian Gold Maple Leaf, while others are made of 22-carat gold (91.67%), such as the South African Krugerrand and the American Gold Eagle. Coins carry higher premiums than bars but are easy to recognise and to sell one at a time.

Find the best gold price

Prices for the same coin or bar differ from one dealer to the next. Metals Radar compares offers from Australian bullion dealers and ranks them by final price, so you can see where your money buys the most gold.