Gold Price - Historical Chart - Forecast

The current price of Gold is $127,280.82 per kilogram.

Price as of Nov 12 2026. ¹ The price provided above is the retail price for private investors buying physical gold and is aligned with industry retail pricing. For bulk purchases, whether investment or industry, please contact us directly for a quotation.

Table: Gold Historical Prices and Price Changes

Date	Gold Price	Change % to Today	Annual Change %
Nov 12 2026	$127,280.82 / kg
Jan 1 2026	$141,347.90 / kg	–9.95%
Jan 1 2025	$84,741.10 / kg	+50.20%	+66.80%
Jan 1 2024	$65,862.15 / kg	+93.25%	+28.66%
Jan 1 2023	$64,375.03 / kg	+97.72%	+2.31%
Jan 1 2022	$63,669.55 / kg	+99.91%	+1.11%
Jan 1 2021	$66,562.02 / kg	+91.22%	-4.35%
Jan 1 2020	$53,440.10 / kg	+138.17%	+24.56%
Jan 1 2019	$45,327.08 / kg	+180.81%	+17.90%
Jan 1 2018	$45,856.19 / kg	+177.57%	-1.15%

Gold Historical Price Movement

At today’s price of $127,280.82 per kilo, gold has changed –9.95% in value so far this year. It is up +50.20% since the start of last year and is up +93.25% since Jan 1st 2024. Since the start of 2023, gold has increased +97.72%.

Compared to the gold price of $53,440.10 per kilo on Jan 1st 2020, this precious metal has gained +138.17% today. If we go back to Jan 1st 2018, when one kilogram of gold cost $45,856.19, the current price has gone up a whopping +177.57%.

Gold is a dense, soft, yellow precious metal with the chemical element symbol Au and atomic number 79. As one of Earth’s most highly valued elements, it has been a symbol of wealth, power, and beauty throughout human history.

Gold Uses

Gold’s versatility and unique properties make it essential across various sectors, including finance, technology, and luxury goods. Its most recognized role is as a store of value. Central banks, governments, and investors globally hold vast reserves of gold as part of their monetary systems, serving as a hedge against inflation and currency fluctuations. Gold’s relative scarcity and long-lasting durability have made it a reliable store of wealth for centuries.

Gold’s high conductivity and resistance to tarnishing are key to its use in electronics. It is a critical component in smartphones, computers, and other electronic devices where high reliability is needed. Thin layers of gold are used in connectors, switches, and circuit boards to ensure precise and stable performance. As the demand for electronic devices grows, the need for gold in this sector continues to expand.

In the luxury market, gold’s appeal is timeless. From fine jewellery to watches, gold remains a top choice for its aesthetic qualities and status symbol. Whether used in its pure form or alloyed with other metals, gold’s malleability and radiant sheen make it ideal for crafting exquisite pieces that retain their value.

Gold’s reflective properties also make it useful in aerospace and medical fields. It is used to coat satellites and spacecraft components, protecting them from radiation and extreme temperatures. In medicine, gold nanoparticles are increasingly employed in diagnostic tools and treatments, showcasing the metal’s ability to improve human health.

Did you know? The symbol for gold, Au, comes from the Latin word “aurum,” meaning "shining dawn." This reflects gold’s association with sunlight and its bright, lustrous appearance.

Where is Gold Produced?

Gold is mined on every continent except Antarctica, with significant production concentrated in a few key regions. China is the largest producer of gold globally, followed by Australia and Russia. These countries account for nearly half of the world’s annual gold output. Other notable gold producers include the United States, Canada, and Peru.

Africa also plays a vital role in gold mining, with South Africa and Ghana being prominent contributors. Once dominant, South Africa’s gold industry has faced challenges, but the country remains one of the world’s leading producers. Ghana, often called the “Gold Coast,” continues to grow its production, with significant reserves still untapped.

Mining is only one part of the supply chain. Gold recycling, primarily from jewellery and electronics, contributes to global supply. Around 30% of annual gold production comes from recycled sources, helping to meet demand without further depleting natural reserves.

Interesting Gold Fact This precious metal is so malleable that a single ounce can be stretched into a thin wire over 80 kilometers (50 miles) long or hammered into a sheet so thin it becomes transparent.

What Factors Determine the Price of Gold?

Gold prices are influenced by a complex interplay of factors, with supply and demand being the most direct. The limited global supply of gold means that even small changes in demand can significantly impact its price. As a result, gold often sees price increases during times of economic uncertainty as investors seek safe-haven assets.

Inflation and interest rates also play crucial roles in determining the price of gold. When inflation is high or central banks implement loose monetary policies, gold prices tend to rise as investors look to preserve the value of their assets. Conversely, holding gold becomes less attractive when interest rates increase due to the opportunity cost compared to interest-bearing investments.

Geopolitical tensions can also drive up the price of gold. During global instability, such as wars, trade disputes, or political upheaval, the demand for gold surges. In these situations, gold is seen as a stable asset, free from the risks associated with currencies or stocks.

Lastly, currency fluctuations, especially in the US dollar, strongly influence gold prices. Since gold is traded in dollars globally, a weaker dollar makes gold cheaper for foreign buyers, increasing demand and pushing prices up. Conversely, a stronger dollar tends to have the opposite effect.

Did you know? Gold in its pure form is non-toxic and edible, and it has been used to garnish food and drinks in luxury cuisine, like gold-coated desserts and beverages.

Gold Price Forecast

Forecast last updated: November 10, 2026.

At a glance

SMI price: As of November 9, 2026, SMI's price is $132,959.08 per kilogram, down 5.93% in 2026 but up 56.90% since the start of 2025.
Market balance: Central-bank purchases and investment demand remain supportive, while elevated real interest rates and the risk of renewed US-dollar strength remain obstacles.
Outlook: Cautiously constructive over 6–12 months, with a stronger long-term diversification case than a case for uninterrupted price gains.

What changed for Gold in 2026

Gold delivered an extraordinary year in 2025, rising 66.80% in SMI's price series after gaining 28.66% in 2024. The subsequent correction requires a more measured outlook than expectations of steadily rising prices.

The World Gold Council's third-quarter report shows official institutions adding a net 321 tonnes to reserves, while physically backed gold exchange-traded funds (ETFs) added 211 tonnes. Yet total demand was 1% lower year on year, with weaker jewellery and bar-and-coin buying. Institutional support has not removed the market's sensitivity to price and monetary conditions.

Current market drivers

The immediate question is whether investment buying can overcome the attraction of interest-bearing assets. The Federal Reserve held its policy-rate range at 3.75–4.00% in October and said inflation remained elevated. The US Treasury's ten-year real yield stood at 2.66% on November 9, below 2.84% on October 14 but still a meaningful competing return for an asset that pays no income.

Fiscal and geopolitical uncertainty can encourage defensive ownership, but their price effects are mixed. Inflation concerns can attract gold buyers while also keeping interest rates high. Demand for protection does not prevent substantial corrections.

Bullish factors

Reserve demand persists: Central banks' third-quarter purchases were 42% above a year earlier, reinforcing gold's continuing role in reserve diversification.
Investment participation: The Council's October ETF report records a further $2.7 billion of inflows and a 19-tonne increase in holdings. European and Asian buying outweighed modest North American outflows, despite continued price weakness.
Scope for a more favourable backdrop: Lower real yields or a softer dollar would reduce important obstacles to renewed gains, particularly if concerns about public finances and currency purchasing power sustain diversification demand.

Risks and headwinds

Persistent monetary pressure: Further tightening, sustained high real yields, or renewed dollar strength could prolong the correction. Gold is not immune to profit-taking or shifting interest rate expectations.
Uneven physical demand: Third-quarter jewellery consumption fell 17% year on year, and bar-and-coin demand fell 19%. Mine production rose 3%, while recycling fell 8%. Supply and physical buying therefore remain important counterweights to the investment narrative.
Reversible investment flows: ETF buying can turn into selling, and central banks do not buy uniformly. Neither provides a guaranteed price floor.

Gold 6–12 month outlook

Bias: Cautiously constructive, with substantial volatility.

Rationale: Persistent reserve and investment buying provides a credible basis for recovery. A sustained advance would be easier to support if real yields and the dollar retreat. Until then, consolidation and further setbacks remain plausible; the decline from earlier highs alone does not establish that gold is cheap.

Longer-term outlook

Bias: Constructive as a strategic diversifier.

Rationale: Gold's established reserve role and appeal as a tangible store of wealth remain relevant when investors reassess currency, fiscal, and geopolitical risks. These attributes support a multi-year ownership case, while allowing for extended periods of weak returns if confidence improves and real yields stay attractive.

The role of physical ownership

Physical gold, such as bars, coins, and bullion, is a traditional and tangible way to own the metal. For investors seeking direct ownership of a globally recognised asset, it can complement income-producing investments and specialist industrial metals. Purity, documented ownership, secure storage, purchase premiums, and resale terms all matter. Its value lies in that distinct portfolio role, with returns still dependent on the price paid, holding costs, and eventual selling price.

Interesting Gold Fact This precious metal does not tarnish, corrode, or rust, which means that almost all of the gold ever mined throughout history is still in use today in one form or another.

How to Buy Gold

Investing in gold can take many forms, ranging from physical gold to financial instruments. Physical gold, such as bars, coins, and bullion, is a traditional and tangible way to own the metal. However, storage and security are critical considerations when holding physical gold.

Alternatively, investors can gain exposure to gold through Exchange Traded Funds (ETFs), which track the price of gold without the need to handle the physical asset. Gold futures and options also offer more speculative opportunities for traders looking to profit from short-term price movements.

For those looking to buy physical gold, reputable dealers like us offer certified gold products with secure storage options, ensuring the authenticity and safety of the investment.

How to Sell Gold

Selling gold is a straightforward process when handled through reputable channels. The first step is verifying the purity and weight of the gold, which determines its market value. Working with trusted dealers ensures the transaction is smooth, whether selling large gold bars or smaller quantities of coins and jewellery.

For investors who store their gold in secure facilities like ours, selling can be as simple as issuing a sell order. Once the sale is finalized, the proceeds are transferred to the investor’s account.

Partnering with a reliable company that guarantees proper documentation and certification is essential for maximizing the value of your gold assets.

Did you know? The average human body contains about 0.2 milligrams of gold, mostly in the blood, which plays a small role in regulating various functions.

¹ This price is based on the latest available market-reference price for Gold, dated Nov 12 2026. Prices may be carried forward until a newer market price becomes available. Currency conversions use the latest available ECB exchange rate.

Calculations on this page last updated Nov 12 2026.

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