Gold market chart
Historical benchmark in GBP per troy ounce; weight conversions are shown in the tables.
Gold Price Chart in GBP per Troy Ounce
Live gold price history in British Pound (GBP) per troy ounce. Toggle 24H, 7D, 30D, and 1Y ranges to analyze gold trends.
Quick Calculator
Calculate gold value
= 31.1035 grams
= 1.000001 troy ounces
Price per oz t: —
Gold price by currency
Fine gold per troy ounce · current exchange rates
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US Dollar
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Euro
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British Pound
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Japanese Yen
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Swiss Franc
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Australian Dollar
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Canadian Dollar
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Indian Rupee
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Gold price by weight
| Weight | Grams | Spot value (GBP) |
|---|---|---|
| Troy Ounce | 31.1035 | — |
| Gram | 1 | — |
| Kilogram | 1000 | — |
| Pennyweight | 1.55517 | — |
| Tola | 11.6638 | — |
| Tael (Hong Kong) | 37.429 | — |
| Tael (Shanghai / Mainland China) | 50 | — |
| Tael (Taiwan) | 37.5 | — |
| Grain | 0.0648 | — |
| Momme | 3.75 | — |
| Baht | 15.244 | — |
| Chi | 3.75 | — |
| Don | 3.75 | — |
| Mesghal | 4.6875 | — |
Gold price by karat & hallmark
Metal-only melt value; stones and making charges are not included.
What is a Troy Ounce? Gold weight, conversions and local use
Definition. The troy ounce (31.1035 g) is the settlement unit of the London and COMEX markets, so it is the number every other quote is derived from. One troy ounce equals 31.1035 grams, or 1.00000 troy ounces, which at today's gold spot price works out to — GBP.
Where it is used. Bullion bars and coins are struck in 1 oz, 10 oz and 100 oz sizes, and dealer spreads are quoted as a premium over the ounce spot price. The unit is the trading standard in global wholesale markets.
Pricing conventions. Because the ounce is the contract unit, it carries the tightest spread of any weight: retail premiums on a 1 oz coin typically run a few percent, while a 400 oz good-delivery bar trades near spot. Gold is the metal most often traded in these traditional units, because jewellery and savings demand kept the old weights alive long after industry went metric.
Good to know. The troy ounce is heavier than the everyday avoirdupois ounce (28.35 g) — a mix-up of roughly 10% that still catches out first-time buyers.
Gold price per Troy Ounce in GBP — quick conversion table
| Quantity | Grams | Troy ounces | Value (GBP) |
|---|---|---|---|
| 1 troy ounce | 31.104 g | 1.0000 oz t | — |
| 5 troy ounces | 155.518 g | 5.0000 oz t | — |
| 10 troy ounces | 311.035 g | 10.0000 oz t | — |
| 100 troy ounces | 3,110.35 g | 100.0001 oz t | — |
Values are calculated from the live XAU spot price converted into British Pound and refresh with the price above.
Buying Gold in United Kingdom: local market, taxes and premiums
At the live price shown above per troy ounce, the price you see here is the international XAU spot price converted into British Pound. Physical buyers in United Kingdom pay that reference plus a premium, and local trading is concentrated around London, the world's largest OTC bullion centre. Buyers there generally watch the twice-daily LBMA auction fixed in London as the day's reference.
Taxes and duties. Investment gold is VAT-free in the UK, and UK legal-tender coins such as Britannias and Sovereigns are also free of Capital Gains Tax for residents. Gold is the deepest of the four precious metals markets, so local retail spreads are usually the tightest and buy-back is easiest. That is why the shop price of gold in GBP can sit noticeably above the spot value of the same troy ounce of metal.
How people usually buy. The common routes in United Kingdom are Royal Mint bullion, London dealers such as those around Hatton Garden, online dealers and LBMA-vaulted allocated accounts. The products most often quoted locally include Gold Britannia, Sovereign, 1 kg silver bars, allocated vault grams.
Local conventions. London is the pricing centre for the LBMA Gold Price, quoted per troy ounce and settled in loco London good-delivery bars. Before you buy, compare the dealer's asking price per troy ounce with the live gold price above, and check the buy-back spread the same dealer offers — that round-trip cost matters more than a small difference in the headline GBP quote.
Market information only, updated with live prices. Not tax or investment advice; tax rules in United Kingdom can change.
Other Precious Metals in GBP
Compare prices across different precious metals
About Gold Price in GBP
What is Gold?
Gold is a chemical element with symbol Au and atomic number 79. It is a dense, soft, malleable metal that has been used as a store of value for thousands of years.
History
Gold has been known and used by artisans since the Chalcolithic age. Egypt and especially Nubia had the resources to make them major gold-producing areas for much of history.
Common Uses
Interesting Facts
- •Gold is one of the least reactive chemical elements
- •All the gold ever mined would fit in a cube about 21 meters on each side
- •Gold is so malleable that a single gram can be beaten into a sheet of 1 square meter
Gold Price Per Troy Ounce in British Pound
The current gold price per troy ounce in British Pound (GBP) is updated in real-time based on international market rates. Gold is traded globally and its price fluctuates based on supply and demand, economic conditions, and geopolitical factors.
When buying or selling gold in United Kingdom, it's important to understand that prices are typically quoted in troy ounces on international markets. Our converter helps you easily calculate the price in troy ounces, which may be more practical for local transactions.
The troy ounce is the standard unit for measuring precious metals. It equals approximately 31.1 grams. This unit is commonly used when trading gold in various markets around the world.
Gold Long-Term Returns vs Current GBP Price
How gold has performed over 1, 5, 10, and 20 years against today's spot price (USD/oz). Useful for United Kingdom investors tracking gold in GBP.
| Period | Start date | Price then | Return |
|---|
Historical prices are approximate annual averages, interpolated between anchor years (1980–2026).
Gold price in GBP – FAQ
How much does one ounce of gold cost in GBP today?
One troy ounce of gold currently costs approximately the live spot price shown on this page. This live spot price is refreshed every 5 minutes from MetalflowAPI market data and reflects the international XAU/GBP rate.
What is the current gold rate in United Kingdom today?
The current gold rate in United Kingdom is the live spot price shown on this page per troy ounce. Prices refresh every 5 minutes and follow the international Gold spot price converted to British Pound.
How much is 1 troy ounce of gold in GBP?
1 troy ounce of gold equals the live spot price shown on this page today. This is calculated from the live spot price per troy ounce, converted via the GBP exchange rate (1 troy ounce = 31.1035 grams).
How is the gold price per troy ounce calculated?
The gold price per troy ounce is calculated by converting the international spot price (quoted per troy ounce in USD) to GBP using the current exchange rate, then converting to the troy ounce weight unit (1 troy ounce = 31.1035 grams).
Do I pay tax or VAT when buying gold in United Kingdom?
Investment gold is VAT-free in the UK, and UK legal-tender coins such as Britannias and Sovereigns are also free of Capital Gains Tax for residents. Always confirm the current rule with the dealer, because the tax treatment changes the real cost per troy ounce more than small differences in the GBP spot quote.
Where do people usually buy gold in United Kingdom?
The usual routes are Royal Mint bullion, London dealers such as those around Hatton Garden, online dealers, LBMA-vaulted allocated accounts. Local trading is centred on London, the world's largest OTC bullion centre, and the products most often quoted are Gold Britannia, Sovereign, 1 kg silver bars, allocated vault grams.
Why is the shop price of gold higher than the spot price in GBP?
Retail prices add a dealer premium covering refining, minting, shipping, insurance and margin, plus any local tax. Gold is the deepest of the four precious metals markets, so local retail spreads are usually the tightest and buy-back is easiest. Compare the asking price per troy ounce with the live spot value above, and check the dealer's buy-back spread.
Which price reference does the United Kingdom gold market follow?
Local buyers generally follow the twice-daily LBMA auction fixed in London, converted into British Pound (GBP). London is the pricing centre for the LBMA Gold Price, quoted per troy ounce and settled in loco London good-delivery bars.