Gold Price Today in the UK
The live table below gives the UK gold price in pounds sterling per troy ounce and per gram, from 24 carat down to 9 carat. It is the international price converted from dollars; dealers add a premium on coins and bars, and jewellery prices include VAT and the maker's margin.
Live gold rate in the UK (GBP)
| Weight & purity | Live price |
|---|---|
| 24ct gold · 1 troy ounce | live |
| 24ct gold · 1 gram | live |
| 24ct gold · 1 kilogram | live |
| 22ct gold · 1 gram | live |
| 18ct gold · 1 gram | live |
| 14ct gold · 1 gram | live |
| 9ct gold · 1 gram | live |
Live gold price in pounds (TradingView FX_IDC:XAUGBP) scaled by weight and purity. Values are the live international spot price converted at the live exchange rate and scaled by weight and purity. They exclude dealer premiums, local market premiums or discounts, taxes and making charges. How we calculate
How the sterling gold price is set
London is the centre of the global wholesale gold market. Bullion banks there trade 400-ounce bars held in vaults in and around the City, and the LBMA Gold Price is fixed twice a day, at 10:30 and 15:00 London time, in an electronic auction run by ICE Benchmark Administration. The auction is in US dollars, with sterling and euro equivalents published alongside. Between fixes, the pound price moves with both gold in dollars and the GBP/USD exchange rate, so a stronger pound can lower the UK price even when gold rises in dollar terms.
Carats and hallmarks
British jewellery uses the spelling "carat" and the standard finenesses below. Hallmarking is a legal requirement: gold articles above 1 gram must be hallmarked by one of the four UK assay offices before they can be described as gold for sale.
| Carat | Millesimal mark | Gold content | Typical use |
|---|---|---|---|
| 24ct | 999 | 99.9% | Bars, Britannia coins |
| 22ct | 916 | 91.6% | Sovereigns, wedding bands, Asian jewellery |
| 18ct | 750 | 75% | Engagement rings, fine jewellery |
| 14ct | 585 | 58.5% | Less common in the UK |
| 9ct | 375 | 37.5% | Everyday jewellery, very popular in Britain |
The assay offices are London (the Goldsmiths' Company), Birmingham, Sheffield and Edinburgh, and each has its own town mark: the leopard's head, the anchor, the rose and the castle respectively. A full hallmark also shows the sponsor's mark (the maker or importer) and the fineness number. More on reading marks in our karat guide.
VAT and Capital Gains Tax
- Investment gold is VAT-exempt. Bars and wafers of at least 995 fineness and qualifying gold coins carry no VAT, which is why bullion dealers can sell close to the market price.
- Jewellery carries 20% VAT on the full retail price, including the design and labour.
- Sovereigns and Britannias are exempt from Capital Gains Tax because they are UK legal tender. Gains on bars, foreign coins such as Krugerrands, and jewellery above the chattels rules can be liable to CGT. Check HMRC guidance or an adviser for your situation.
That CGT treatment is the main reason UK investors favour Royal Mint coins over bars of the same weight, even though the premium per gram is usually higher on coins.
Worked example: what a Sovereign is worth in gold
Illustrative figures only. Suppose gold is £3,112.50 per ounce, or £100.07 per gram.
| Item | Calculation | Value |
|---|---|---|
| Gold in one full Sovereign (7.3224 g fine) | 7.3224 × £100.07 | £732.75 |
| Melt value of a 4 g 9ct chain | 4 × £100.07 × 0.375 | £150.11 |
| Melt value of a 1.5 g 22ct band | 1.5 × £100.07 × 0.916 | £137.50 |
A dealer would sell the Sovereign above its £732.75 gold value and buy it back near that value. The 9ct chain would sell new for well over its metal value once design, labour and VAT are included. Use the scrap gold calculator for your own items.
Where people buy gold in the UK
The Royal Mint sells coins and bars directly, and a number of established online bullion dealers sell coins and bars with storage or delivery. In London, Hatton Garden is the historic jewellery quarter with jewellers, bullion shops and scrap buyers; Birmingham's Jewellery Quarter plays the same role in the Midlands. High-street jewellers sell mainly 9ct and 18ct pieces, and Asian jewellers in areas such as Southall and Birmingham's Soho Road sell 22ct gold priced largely by weight.
Checklist
- For investment, compare price per gram of gold content across coins and bars, then weigh the CGT advantage of Sovereigns and Britannias.
- Check that jewellery carries a full UK hallmark (or a recognised international convention mark).
- When selling, ask whether the offer is based on the live price and what percentage of melt value it represents.
- Avoid postal gold-buying schemes that do not state their payout rate before you send items.