COMMODITY · USD/oz
Gold
A classic safe-haven asset. The international futures price is set per troy ounce (oz).
Price$4,167.90+$60.00 · +1.46%vs previous day
Price
US dollar futures| Price | $4,167.90 (USD/oz) |
|---|---|
| vs previous day | +1.46% |
| 52-week high | $5,586.20 |
| 52-week low | $3,651.00 |
| 52-week position | 27% (0% = 52-week low, 100% = 52-week high) |
Gold: what it is
Gold is a precious metal that has served as a store of value for thousands of years. Unlike stocks and bonds it pays no interest or dividends, but it has no issuer, which separates it from the credit risk of any one country or company.
The price on this page is the US dollar price of international gold futures (COMEX GC). The price on the KRX gold market in Korea forms separately, with the won/dollar exchange rate built in.
What has moved the price
- Real interest rates and the dollar
Gold pays no interest, so historically its relative appeal has tended to fade when real interest rates (after inflation) rise and to stand out when they fall. Because it trades in dollars, it has also often moved opposite to the dollar's value.
- Safe-haven demand
Demand for gold has repeatedly gathered in periods of rising uncertainty, such as wars and financial crises. That is why it is called a safe-haven asset.
- Central bank purchases
Central banks hold part of their foreign reserves in gold, and the size of their purchases and sales is a major part of gold supply and demand. The World Gold Council (WGC) publishes related statistics every quarter.
This describes general tendencies observed in the past and does not forecast the direction of future prices.
Reading the unit
The standard unit for the international gold price is the troy ounce (about 31.1 g). It differs from the don (3.75 g) used by Korean gold shops, so a rough price for one don is the ounce price divided by 8.29, multiplied by the exchange rate.
Points to keep in mind
- Gold pays no interest or dividends, so holding it has an opportunity cost.
- The price felt in won is set by the international gold price and the exchange rate moving together.
- Despite the safe-haven label, its short-term price swings are far from small.
This page is information based on public data and is not advice on any commodity or related financial product. The figures summarize current and past facts and do not forecast future prices.