Gold Spot price today

Gold Ounce Price (XAU/USD) The global price of one troy ounce of pure gold in US dollars; a figure that central banks, investment funds, forex traders and even Tehran's gold shops check every day. On this page you can see the live price of gold per ounce and its candlestick chart, and below we explain what the gold ounce is, what factors move it, how it combines with the open-market dollar to set the price of gold in Iran, and what risks trading it through brokers carries.

What Is the Gold Ounce and What Does XAU/USD Mean?

The "ounce" used in the gold market is the troy ounce , which equals 31.1035 grams; slightly heavier than the ordinary ounce used in American kitchens. The symbol XAU is assigned to gold in the international currency code standard (X for commodities that are not national currencies, and AU from gold's Latin name, Aurum). So XAU/USD reads like a currency pair: gold is the base asset and the dollar is the quote currency; the displayed figure shows how many dollars one ounce of pure gold is worth.

The global gold price is formed in several markets at once: the London over-the-counter market, which is the largest physical gold market and sets the "LBMA reference price" twice a day, the COMEX futures market in New York, and Asian markets such as Shanghai. The price you see on brokers' platforms is fed by these markets.

The Gold Ounce and the Price of Gold in Iran

For Iranian readers, the gold ounce is not just a forex symbol; it is half of the equation for the domestic gold price. The other half is the open-market dollar rate. If you multiply the ounce price by the dollar rate in Toman and divide by 31.1035, you get the value of one gram of pure gold in Toman; multiplying this figure by 0.75 gives you the theoretical price per gram of 18-karat gold .

The practical result of this formula is that the price of gold in Iran is driven by two separate engines . The gold ounce may stay flat in the global market while 18-karat gold rises purely because of a jump in the dollar, or conversely, the dollar may be calm while a rise in the gold ounce pushes the domestic price up. Sometimes the two move in opposite directions and cancel each other out. That is why tracking the ounce and the dollar together is essential for analysing the price of the Emami coin or 24-karat gold. The gap between the actual domestic market price and this theoretical price comes down to domestic supply and demand and market expectations.

What Factors Move the Gold Ounce Price?

1. US Real Interest Rates

Gold pays no profit or interest. When the real interest rate (the interest rate minus inflation) rises, holding dollar bonds and deposits becomes more attractive and the opportunity cost of holding gold goes up; conversely, a fall in real interest rates usually favours gold. That is why Federal Reserve decisions are among the most important events for this symbol. See the interest rates of the major central banks on the global interest rates page.

2. Dollar Strength

Because gold is priced in dollars, a stronger dollar makes gold more expensive for non-US buyers and usually puts downward pressure on it. This relationship is not permanent; in severe crises the dollar and gold sometimes rise together as safe havens.

3. Inflation and Safe Haven

Gold has long been known as a hedge against currency devaluation and instability. War, geopolitical tensions, banking crises and fears of recession usually increase demand for gold.

4. Central Bank and Fund Buying

Central banks hold part of their reserves in gold, and their buying or selling can change long-term demand. Inflows and outflows of capital in gold exchange-traded funds (ETFs) and physical demand from major consuming countries such as China and India also have an impact.

5. US Economic Data

Inflation figures (CPI and PCE), the non-farm payrolls report (NFP) and Federal Reserve minutes change market expectations of the interest rate path, and the gold ounce usually makes sharp moves the moment this data is released. Follow their release times in the Teagle economic calendar .

Gold Ounce Trading Hours

The gold ounce trades almost around the clock, Monday to Friday; from the market open in Asia to the New York close, with a short daily break that at most brokers falls around midnight Tehran time. The highest-volume hours usually coincide with the London open and especially the London and New York session overlap ; that is, afternoon and evening Tehran time. Volume is lower in the Asian session, but news from China and Asian physical demand sometimes make those hours volatile too. For the exact hours of each market in Iran time, see the world market hours page. The market is closed at the weekend, and if major news breaks in the meantime, the price may open with a "gap" on Monday.

Contract Specifications and the Value of Each Move

At most brokers, the gold ounce is offered as a contract for difference (CFD) and one standard lot equals 100 ounces ; so every one-dollar change in the ounce price produces $100 of profit or loss for one lot. Contract size and the definition of a pip vary between brokers, so check the symbol specifications on your platform before trading.

On a news-heavy day the gold ounce can move several tens of dollars; meaning even 0.1 lot can swing by several hundred dollars on such a day. Calculate the right size based on your stop-loss distance and acceptable risk percentage with the trading calculator . The overnight holding cost (swap) on gold can also be significant.

Leverage Risk and Choosing a Broker

Brokers offer leverage on gold; meaning you can trade a large volume with a small deposit. Leverage magnifies profit and loss equally, and in gold's sharp swings an account without a stop loss can hit a margin call within minutes. A few practical points:

• Spreads widen during news: at the moment NFP or an interest rate decision is released, the gold spread multiplies and slippage is common.
• Access for Iranian users: because of sanctions, account opening, identity verification, and deposits and withdrawals are restricted for Iranians at many brokers. Compare each broker's regulation status and conditions in the forex broker reviews .
• Prop accounts: if you plan to trade gold with a prop firm's capital, read the daily loss limit rules and news trading restrictions in the prop firm reviews ; gold is one of the symbols where these rules are violated most often.

Gold Alongside Other Symbols

The gold ounce often moves in the same direction as the silver ounce , although silver is more volatile. In many periods, when the dollar weakens, both gold and the euro-dollar pair rise. In risk-off periods when US stock indices such as the Dow Jones and Nasdaq 100 are under selling pressure, gold often attracts attention as a safe haven. To see all precious metals, open the metals symbols list.

The information on this page is for informational purposes only and is not a recommendation to buy or sell. The gold ounce price is sourced from global market feeds and may differ slightly from the price on your broker's platform; trading with leverage carries high risk, and you may lose part or all of your capital.