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What is Gold Price Today

Gold Price

About Gold Price

What is Gold Price Today

The price of gold is primarily determined by a combination of factors like supply, demand, and investor behaviour. However, current gold prices not only factor immediate supply and demand but also expectations of future supply and demand. According to experts, the less is the information available, the greater will be the price volatility. It is an agreement between market participants to buy and sell gold at a fixed price or to maintain the market conditions to make the price stay at a certain level by controlling the supply and demand.
 
When are gold prices fixed?
 
Gold prices are fixed at London Bullion Market Association on a daily basis (business day) at 10:30 am and 3pm (London time).
 
In which currency is gold rate fixed?
 
The gold fix is conducted in the US dollar, the Pound sterling, and the euro.
 
Who are the current participants in gold price fixing?
 
Barclays, Bank of China, Standard Chartered, Bank of Communications, ScotiaMocatta (Scotiabank), Goldman Sachs, Societe Generale, HSBC Bank USA, Toronto-Dominion Bank, UBS, JPMorgan Chase and Morgan Stanley
 
The three categories of gold consumers:
 
— industrial
— jewellery producers
— investors
 
Types of gold rates
 
There are 2 types of Gold prices – spot price, futures price.
 
Spot: This is the current market price at which gold was bought or sold for immediate payment and delivery
 
Futures: This is the price at which the participants in a futures contract agree to transact on the date of settlement
 
What are the sources of gold pricing?
 
Over-the-counter (OTC) markets: This decentralised market, in which market participants trade stocks, is not listed on an exchange. The market participants trade by phone instead of a physical trading floor. Financial markets act as market makers and offer a bid or ask for a bid.
 
Bullion traders, banks: Bullion traders and banks trade large volumes of gold for their clients. They buy and sell gold as part of the trading process which serve as a reliable source of spot pricing for gold.
 
Futures price is sourced on exchanges. Gold futures are traded on major exchanges around the world. These exchanges are the primary source of gold futures prices.
 
What are the major gold exchanges
 
Multi Commodity Exchange (MCX), Mumbai
 
COMEX, New York
 
TOCOM, Japan
 
DGCX, Dubai
 
Shanghai Gold Exchange, China
 
Istanbul Gold Exchange, Istanbul

Latest Updates on Gold Price

Gold climbs Rs 10, silver up Rs 100; yellow metal trading at Rs 64,860

1 min read Last Updated :Mar 06 2024 | 7:28 AM IST
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Gold price declines Rs 10 to Rs 62,180, silver falls Rs 100 to Rs 73,900

2 min read Last Updated :Feb 15 2024 | 9:49 AM IST
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Gold, silver prices unchanged; precious metal trading at Rs 63,270/kg

2 min read Last Updated :Feb 01 2024 | 8:33 AM IST
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Gold price remains unchanged, silver declines Rs 500 to Rs 75,000

2 min read Last Updated :Jan 24 2024 | 8:05 AM IST
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Gold rises Rs 220, silver jumps Rs 300, yellow metal trading at Rs 64,090

2 min read Last Updated :Jan 03 2024 | 7:53 AM IST
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Gold, silver prices remain stable, yellow metal selling at Rs 63,870/10g

1 min read Last Updated :Jan 01 2024 | 8:15 AM IST
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Gold price unchanged at Rs 63,490, silver rises Rs 200 to Rs 79,200

2 min read Last Updated :Dec 26 2023 | 7:54 AM IST
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Gold, silver prices remain stable; yellow metal trading at Rs 62,510/10g

2 min read Last Updated :Dec 18 2023 | 7:59 AM IST
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Gold prices dip Rs 220, silver falls Rs 100, trading at Rs 75,700 per kg

2 min read Last Updated :Dec 13 2023 | 7:43 AM IST
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Gold, silver prices unchanged; yellow metal trading at Rs 62,350 per 10g

2 min read Last Updated :Dec 11 2023 | 7:35 AM IST
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Gold price remains flat at Rs 63,760, silver unchanged at Rs 80,500

2 min read Last Updated :Dec 04 2023 | 8:32 AM IST
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Gold prices unchanged, silver falls Rs 400, trading at Rs 76,000 per kg

2 min read Last Updated :Nov 23 2023 | 8:09 AM IST
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Gold, silver prices unchanged; yellow metal trading at Rs 58,200 per 10g

2 min read Last Updated :Oct 02 2023 | 7:42 AM IST
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Gold up by Rs 10, silver unchanged, yellow metal trading at Rs 59,900/10g

2 min read Last Updated :Sep 18 2023 | 8:05 AM IST
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Gold, silver prices unchanged, yellow metal trading at Rs 59,450 per 10g

2 min read Last Updated :Sep 15 2023 | 7:24 AM IST
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Gold slumps Rs 380 to Rs 59,450/10g, silver falls Rs 1,000 to Rs 73,500

2 min read Last Updated :Sep 14 2023 | 8:36 AM IST
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Gold, silver prices unchanged, precious metal trading at Rs 73.500 /kg

2 min read Last Updated :Sep 11 2023 | 7:51 AM IST
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Gold, silver prices unchanged, yellow metal selling at Rs 59,890 per 10g

2 min read Last Updated :Sep 08 2023 | 8:57 AM IST
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Gold prices jump by Rs 100, silver falls by Rs 700, trading at Rs 76,200/kg

2 min read Last Updated :Sep 05 2023 | 7:56 AM IST
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Gold prices rise to reach Rs 60,160, silver prices unchanged at Rs 77,600

2 min read Last Updated :Sep 01 2023 | 8:23 AM IST
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