Gold Price Today in the USA
The live table below shows the gold price today in the USA in US dollars per troy ounce, per gram and per pennyweight, for 24K down to 10K. These are spot-based melt values: a dealer selling you a coin or bar adds a premium, and a buyer of your scrap or jewelry pays somewhat less.
Live gold rate in the USA (USD)
| Weight & purity | Live price |
|---|---|
| 24K gold · 1 troy ounce | live |
| 24K gold · 1 gram | live |
| 24K gold · 1 pennyweight | live |
| 22K gold · 1 gram | live |
| 18K gold · 1 gram | live |
| 18K gold · 1 pennyweight | live |
| 14K gold · 1 gram | live |
| 14K gold · 1 pennyweight | live |
| 10K gold · 1 gram | live |
| 10K gold · 1 pennyweight | live |
Spot-based melt values in US dollars. Coins and bars sell above these figures; scrap and used jewelry are bought below them. 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 US gold price is formed
The figure quoted on TV and on dealer websites is the spot price: the price for immediate delivery of one troy ounce (31.1035 g) of pure gold in the wholesale market. During US trading hours it is driven largely by gold futures on COMEX in New York, where the benchmark GC contract covers 100 troy ounces, and it trades almost around the clock as London and Asian markets hand over to each other. Because gold is priced globally in dollars, the US price is simply the world price with no currency conversion step.
No retail buyer pays spot. A coin or bar costs spot plus a premium that covers minting, distribution and the dealer's margin, and a dealer buying from you pays a little under spot or, for popular coins, near it. The gap between the two is the dealer's buy/sell spread, and it is the real cost of a round trip.
Units Americans use
| Unit | Grams | Where you see it |
|---|---|---|
| Troy ounce (oz t) | 31.1035 | Spot price, coins, bars |
| Gram | 1 | Small bars, jewelry, scrap quotes |
| Pennyweight (dwt) | 1.5552 | Jewelry trade and scrap buyers; 20 dwt = 1 oz t |
| Kilogram | 1,000 | Large bars (32.15 oz t) |
A troy ounce is about 10% heavier than the avoirdupois ounce on a kitchen scale (28.35 g), which is a common source of confusion when people weigh jewelry at home. Our troy ounce guide and unit converter cover the conversions.
Karats in US jewelry
American jewelry is mostly 14K (58.5% gold) and 10K (41.7%), with 18K (75%) used for fine and designer pieces. Federal Trade Commission guides do not allow an item below 10 karats to be sold as "gold." The American Gold Eagle coin is 22K (91.67%) but still contains a full troy ounce of pure gold in the 1 oz size, because the extra weight is alloy; the American Buffalo is 24K (.9999). See the 14K and 10K price pages for melt values.
Worked example: premium, spread and melt value
Illustrative numbers only. Suppose spot is $4,150.00 per ounce, which is $133.43 per gram.
| Item | Calculation | Amount |
|---|---|---|
| 1 oz Gold Eagle, 5% over spot | $4,150.00 × 1.05 | $4,357.50 |
| Dealer buys it back at 1% under spot | $4,150.00 × 0.99 | $4,108.50 |
| Round-trip cost | $4,357.50 − $4,108.50 (6.0% of spot) | $249.00 |
| Melt value of a 10 g 14K bracelet | 10 × $133.43 × 0.585 | $780.57 |
The bracelet's retail tag would be far higher than its melt value because of design, labor and the store's margin, which is why used jewelry sold for scrap rarely recovers what it cost new. The scrap gold calculator works out melt value from weight and karat.
Taxes on gold in the US
- Sales tax is set by each state. Many states exempt investment bullion and coins fully or above a threshold, while others tax them like any other goods; jewelry is generally taxable. Check your own state's rule before comparing dealers in different states.
- Federal income tax: the IRS treats physical gold, including coins and bars, as a collectible. Long-term gains (held more than one year) are taxed at your ordinary rate but capped at 28%, rather than the lower long-term capital gains rates that apply to stocks. Short-term gains are taxed as ordinary income.
- Dealer reporting: dealers must file Form 1099-B for certain sales of specific bullion products in reportable quantities. Whether or not a form is filed, the gain is still taxable.
For example, if you buy two ounces for $6,000 and sell them more than a year later for $8,300, the $2,300 gain would face at most $644 of federal tax at the 28% cap. This is general information, not tax advice.
Where Americans buy gold
The main channels are local coin shops, large online bullion dealers, and the US Mint itself (which sells coins to the public at a premium set by the Mint, though most investors buy through dealers). Costco has sold 1 oz gold bars to members since 2023, with availability varying. Very few banks sell physical gold to customers. Jewelry stores sell gold mainly as finished jewelry, where the price per gram is much higher than spot. People who want exposure without storing metal often use gold ETFs or futures instead.
Checklist before buying or selling
- Ask for the premium over spot as a dollar figure, and compare the all-in price including shipping and insurance.
- Ask what the dealer would pay you for the same item today; a narrow spread matters more than a low headline premium.
- Payment method changes the price: many dealers charge more for cards and PayPal than for wire or check.
- When selling jewelry, weigh it yourself, know the karat stamp, and get offers from more than one buyer.
- Keep receipts: cost basis determines your tax on the gain.