Gold Price Explained: How Spot Price Determines What Your Jewelry and Coins Are Worth

What is the spot price of gold?

The live global market price of gold per troy ounce changes constantly. As of July 9th, 2026 the gold spot price per troy ounce is $4,124.

Why do gold prices go up and down?

Gold, similar to company shares, trades on a supply and demand basis. As companies need more gold for products and investors buy gold to hedge against inflation, the price moves up or down accordingly. A few big forces drive most of that movement: interest rates (when rates fall, gold usually becomes more attractive), the strength of the U.S. dollar (a weaker dollar tends to push gold higher), and geopolitical or economic uncertainty, which sends investors toward gold as a safe haven. Because these forces shift constantly, the spot price can change by the minute — which is why an offer is only accurate at the moment it's quoted.

How do you calculate what your gold is worth from spot price?

The best way to value your gold is by using this formula:

If you have weight in grams or lower purity refer to our Gold Karat Guide: What 10K, 14K, 18K and 22K Mean for Your Jewelry's Value article for more information.

Why don't dealers pay full spot price?

Gold buyers like any other business exist to provide a service and make money. Gold buyers typically work with large jewelry refining companies that will melt down scrap gold as they buy it. These refiners typically pay a margin below spot (5–10%), requiring retail gold buyers with a storefront and advertising overhead to pay an additional 10% back to cover expenses and make money on top.

What's the difference between spot price and what coins sell for?

Spot price is the live market value of the raw metal in a coin — what its gold or silver content alone is worth by weight. What a coin actually sells for can be much higher if it carries a numismatic premium for its rarity, date, mint mark, or condition, which is why a collectible coin is often worth far more than its melt value.

Is now a good time to sell gold?

As of 2026, gold and silver have spot prices very high relative to previous years. While spot prices may be high relative to past years, the question of “is now a good time to sell” is almost impossible to answer as we cannot predict the future of gold and silver prices. What we recommend to customers who inherited gold and silver jewelry is to sell when it fits your life.

How does Haven Coin use live spot pricing?

Haven Coin and Jewelry uses Kitco (widely known spot platform) live bid prices when quoting prices of bullion, scrap jewelry, and flatware. We calculate the spot price on a per item basis and take a margin back of that which can vary based on the type of item. For example, bullion will have a much smaller margin and be priced closer to spot than a broken 14K chain will.

FAQ: Gold spot price

What's a troy ounce vs. a regular ounce?

A troy ounce is equal to 31.1 grams where a normal ounce is 28.35 grams. Troy ounces have been used for centuries when weighing precious metals.

Does spot price differ for jewelry vs. coins?

The spot price used to calculate the value of both jewelry and coins are the exact same. The reason it may feel like there is a discrepancy between jewelry and coins is because of the purity difference of the precious metal within each.

Where can I check today's gold price?

Using Kitco.com/gold is the easiest way to check live gold prices.

How often do your offers update?

We quote every item at the live spot price at the moment we price it, so your offer always reflects the current market.