Data Powered by Stockdio. Data delayed by 5 minutes unless otherwise indicated.

Gold

2597.05 USD/oz -11.85 (-0.45%) (Last updated - September 17, 2024 12:00 AM UTC )

Day High

1811.5

Day Low

1780.3

Previous Close

1791.95

52 Week Range

1677.9 - 2078.8

Change YTD

0%

Risk Disclaimer

About

Performance USD/oz	Change
5 Day	0%
1 Month	0%
3 Months	0%
6 Months	0%
52 Week	0%

September 17, 2024 12:00 AM UTC

Data Powered by Stockdio. Data delayed by 5 minutes unless otherwise indicated.

Gold is a precious and malleable metal which has continued to lure humankind since time immemorial. Thanks to its eye-pleasing glitter and non-corrosive nature, the yellow metal has been widely used for making jewellery.

Apart from this, gold has been used universally in exchange for goods and services. For many centuries the yellow metal was widely used as a currency in the form of coins. Through most of 20th century, gold was also used as the world reserve currency backing the paper currency system. Nearly 45% of the world's total gold is held by central and government banks.

Apart from this, gold is also used in many modern electronic devices like mobile phones, GPS systems, computers, televisions, and calculators because of its high conductivity. The precious metal also finds application in the manufacturing of glasses, dentistry, and medical treatments. Adding to that, it is widely used as a safe-haven investment – as a hedge against inflation.

Gold has been one of the oldest forms of investments known to man. Since it is not a consumable product, and does not corrode, majority of gold that is mined from the earth is still available on the planet.

The amount of gold mined every year is relatively low as compared to the growth in demand. This is the basic reason behind the constant rise in gold prices. On the supply front, around 75% of the world’s total gold demand is fulfilled by mine production every year while the remaining 30% is met from recycling of jewellery and technology extraction.

The price of gold is guided by the combination of several factors like supply, demand, and investors' behavior. Like every other commodity, the demand and supply dynamics of gold play a vital role in determining its price.

However, here are the few major factors that drive the yellow metal’s price:

Inflation expectations
Demand arising due to purchase of gold by governments and their respective central banks.
During economic downturns, the price of gold shoots up on the back of rising demand from investors who perceive it as a safe investment.
The jewellery demand is also a major contributing factor that influences gold prices. India, China, and the US are the primary consumers of gold in the form of jewellery.
The advent of gold ETFs (Exchange Traded Funds) has also contributed to gold demand.

Code	Company	Price	Chg	%Chg	High	Low	Volume	Market Cap
A1M	A1M AIC Mines Limited	0.335	-0.005	-1.471	0.345	0.327	1093008	189.975 M
A8G	A8G Australasian Metals Limited	0.078	0.000	0.000	0.078	0.078	10000	4.170 M
AAR	AAR Astral Resources NL	0.125	-0.005	-3.846	0.130	0.125	2038058	150.592 M
AAU	AAU Antilles Gold Ltd	0.004	0.001	33.333	0.004	0.004	351983	5.567 M
ADN	ADN Andromeda Metals Ltd	0.006	0.000	0.000	0.007	0.006	3041469	20.572 M
AEE	AEE Aura Energy Ltd	0.140	0.000	0.000	0.140	0.140	14043	110.625 M
AGC	AGC Australian Gold and Copper Ltd	0.210	0.000	0.000	0.220	0.205	337602	56.451 M
AIS	AIS Aeris Resources Ltd	0.185	0.005	2.778	0.185	0.175	1193348	193.505 M
ALK	ALK Alkane Resources Ltd	0.485	-0.010	-2.020	0.500	0.480	734085	302.531 M
AME	AME Alto Metals Ltd	0.084	-0.002	-2.326	0.085	0.083	322750	62.773 M
AOA	AOA Ausmon Resources Ltd	0.002	0.000	0.000	0.002	0.002	--	2.298 M
APC	APC Australian Potash Ltd	0.001	0.000	0.000	0.001	0.001	982	4.070 M
ARD	ARD Argent Minerals Ltd	0.024	0.000	0.000	0.026	0.024	3978617	36.098 M
ARL	ARL Ardea Resources Ltd	0.410	0.010	2.500	0.410	0.400	3194	77.876 M
ARN	ARN Aldoro Resources Ltd	0.085	0.003	3.659	0.085	0.085	2299	11.578 M
AS2	AS2 Askari Metals Ltd	0.021	0.000	0.000	0.022	0.021	351195	2.550 M
AUC	AUC Ausgold Ltd	0.450	0.005	1.124	0.460	0.440	284479	178.141 M
AUN	AUN Aurumin Ltd	0.060	-0.002	-3.226	0.063	0.060	130945	25.977 M
AX8	AX8 Accelerate Resources Ltd	0.010	0.003	42.857	0.010	0.008	1492889	5.298 M
AZL	AZL Arizona Lithium Ltd	0.015	0.000	0.000	0.015	0.014	13121917	71.581 M
BC8	BC8 Black Cat Syndicate Ltd	0.530	0.005	0.952	0.540	0.520	3253971	283.877 M
BCN	BCN Beacon Minerals Ltd	0.022	0.000	0.000	0.022	0.021	3320115	92.980 M
BDM	BDM Burgundy Diamond Mines Ltd	0.100	0.000	0.000	0.102	0.100	161608	149.240 M
BEZ	BEZ Besra Gold Inc	0.068	-0.002	-2.857	0.070	0.068	59583	65.224 M
BGD	BGD Barton Gold Holdings Ltd	0.265	0.005	1.923	0.265	0.255	135848	62.318 M
BGL	BGL Bellevue Gold Ltd	1.295	-0.025	-1.894	1.315	1.275	8283187	1,772.800 M
BHP	BHP BHP Group Limited	40.550	-0.350	-0.856	40.550	40.030	6988271	217,970.917 M
BMO	BMO Bastion Minerals Ltd	0.007	0.001	16.667	0.007	0.007	126231	3.086 M
BNR	BNR Bulletin Resources Ltd	0.041	0.001	2.500	0.041	0.040	66209	12.332 M
BNZ	BNZ Benz Mining Corp	0.235	-0.015	-6.000	0.240	0.230	356446	47.359 M
BRX	BRX Belararox Ltd	0.220	0.005	2.326	0.225	0.215	322547	29.211 M
BSX	BSX Blackstone Minerals Ltd	0.028	-0.001	-3.448	0.028	0.028	20011	15.766 M
CAI	CAI Calidus Resources Ltd	0.115	0.000	0.000	0.115	0.115	--	93.678 M
CAY	CAY Canyon Resources Ltd	0.150	0.000	0.000	0.155	0.150	562469	212.082 M
CDT	CDT Castle Minerals Ltd	0.002	-0.001	-20.000	0.003	0.003	2750000	4.118 M
CHN	CHN Chalice Mining Limited	1.460	-0.025	-1.684	1.505	1.430	3351712	616.608 M
CLA	CLA Celsius Resources Ltd	0.011	0.001	10.000	0.011	0.011	4815751	25.710 M
CLZ	CLZ Classic Minerals Ltd	0.001	0.000	0.000	0.001	0.001	--	1.544 M
CMM	CMM Capricorn Metals Ltd	6.160	0.020	0.326	6.160	6.060	1075989	2,348.224 M
COY	COY Coppermoly Ltd	0.010	0.000	0.000	0.010	0.010	--	7.077 M
CST	CST Castile Resources Ltd	0.087	-0.006	-6.452	0.093	0.087	67759	18.868 M
CWX	CWX Carawine Resources Limited	0.115	0.000	0.000	0.115	0.115	--	23.613 M
CY5	CY5 Cygnus Metals Limited	0.115	-0.005	-4.167	0.120	0.115	1157391	64.078 M
CYL	CYL Catalyst Metals Ltd	2.870	0.040	1.413	2.990	2.800	817816	675.689 M
CZN	CZN Corazon Mining Ltd	0.005	0.000	0.000	0.005	0.005	100010	4.007 M
DAF	DAF Discovery Africa Ltd	0.012	0.000	0.000	0.012	0.012	--	2.577 M
DEG	DEG De Grey Mining Ltd	1.370	0.010	0.735	1.402	1.330	7349451	3,276.371 M
DGR	DGR DGR Global Ltd	0.011	-0.002	-15.385	0.012	0.010	2990428	13.568 M
DTR	DTR Dateline Resources Ltd	0.003	0.000	0.000	0.004	0.003	6632775	10.065 M
EMR	EMR Emerald Resources NL	3.630	-0.110	-2.941	3.700	3.600	2592954	2,490.201 M
ENT	ENT Enterprise Metals Ltd	0.004	0.000	0.000	0.004	0.004	--	4.713 M
EQR	EQR EQ Resources Ltd	0.047	-0.001	-2.083	0.049	0.045	640942	107.401 M
ERM	ERM Emmerson Resources Ltd	0.056	0.000	0.000	0.056	0.056	33244	32.683 M
ESR	ESR Estrella Resources Ltd	0.016	-0.001	-5.882	0.017	0.016	3675229	29.883 M
EVN	EVN Evolution Mining Ltd	4.640	-0.060	-1.277	4.660	4.590	8988486	9,508.472 M
FAU	FAU First Au Ltd	0.002	0.000	0.000	0.002	0.002	333000	3.624 M
FML	FML Focus Minerals Ltd	0.170	-0.010	-5.556	0.180	0.170	225991	51.581 M
G88	G88 Golden Mile Resources Ltd	0.012	0.000	0.000	0.012	0.012	29153	5.674 M
GBZ	GBZ GBM Resources Ltd	0.008	0.000	0.000	0.009	0.008	8240951	9.254 M
GCR	GCR Golden Cross Resources Ltd	0.003	0.000	0.000	0.003	0.003	--	4.389 M
GES	GES Genesis Resources Ltd	0.005	0.000	0.000	0.005	0.005	--	3.914 M
GMD	GMD Genesis Minerals Ltd	2.300	0.000	0.000	2.335	2.260	5404955	2,415.097 M
GML	GML Gateway Mining Ltd	0.026	0.000	0.000	0.026	0.026	350000	9.887 M
GMN	GMN Gold Mountain Ltd	0.001	-0.001	-50.000	0.002	0.001	911353	9.015 M
GOR	GOR Gold Road Resources Ltd	1.760	-0.005	-0.283	1.775	1.745	4679938	1,934.976 M
GRV	GRV Greenvale Energy Ltd	0.023	0.000	0.000	0.024	0.023	133695	10.896 M
GSN	GSN Great Southern Mining Ltd	0.018	0.001	5.882	0.018	0.017	1128668	12.699 M
GTE	GTE Great Western Exploration Ltd	0.034	0.001	3.030	0.034	0.027	1473136	18.261 M
GWR	GWR GWR Group Ltd	0.088	0.002	2.326	0.088	0.085	496141	27.625 M
HAV	HAV Havilah Resources Ltd	0.195	0.005	2.632	0.195	0.195	49087	67.851 M
HLX	HLX Helix Resources Ltd	0.004	0.000	0.000	0.004	0.004	1144991	13.057 M
HRN	HRN Horizon Gold Ltd	0.475	0.015	3.261	0.480	0.455	10195	60.109 M
HRZ	HRZ Horizon Minerals Limited	0.044	0.002	4.762	0.044	0.041	5145096	56.069 M
IBG	IBG Ironbark Zinc Ltd	0.003	0.000	0.000	0.003	0.003	8815384	5.501 M
IEC	IEC Intra Energy Corporation	0.001	0.000	0.000	0.001	0.001	1000000	1.691 M
IPT	IPT Impact Minerals Ltd	0.012	0.000	0.000	0.012	0.012	642142	36.713 M
IXR	IXR Ionic Rare Earths Ltd	0.010	0.000	0.000	0.010	0.009	390069	48.698 M
KCN	KCN Kingsgate Consolidated Ltd.	1.275	0.005	0.394	1.300	1.250	746619	349.254 M
KGD	KGD Kula Gold Ltd	0.006	-0.001	-14.286	0.006	0.006	76813	4.503 M
KIN	KIN KIN Mining NL	--	--	--	--	--	--	67.155 M
KNB	KNB Koonenberry Gold Ltd	0.015	0.001	7.143	0.015	0.014	2169025	4.029 M
KRM	KRM Kingsrose Mining Ltd	0.036	0.000	0.000	0.036	0.036	79873	26.373 M
LCL	LCL LCL Resources Limited	0.010	0.000	0.000	0.010	0.010	150000	9.649 M
LCY	LCY Legacy Iron Ore Ltd	0.013	0.000	0.000	0.013	0.013	--	103.826 M
LEX	LEX Lefroy Exploration Ltd	0.071	0.000	0.000	0.071	0.071	18518	18.525 M
LKY	LKY Locksley Resources Ltd	0.021	0.000	0.000	0.021	0.020	1071230	3.227 M
M3M	M3M M3 Mining Ltd	0.035	0.000	0.000	0.035	0.035	530	3.185 M
MAT	MAT Matsa Resources Ltd	0.042	0.000	0.000	0.043	0.040	1008260	27.304 M
MCT	MCT Metalicity Ltd	0.022	0.000	0.000	0.022	0.021	1712999	15.562 M
MDI	MDI Middle Island Resources Ltd	0.017	0.000	0.000	0.017	0.017	--	4.643 M
MEG	MEG Megado Minerals Limited	0.014	0.000	0.000	0.014	0.014	487943	3.562 M
MEU	MEU Marmota Energy Ltd	0.040	0.002	5.263	0.044	0.039	4308208	39.117 M
MKG	MKG Mako Gold Ltd	0.017	0.000	0.000	0.017	0.017	736948	16.773 M
MKR	MKR Manuka Resources Ltd	0.024	-0.005	-17.241	0.028	0.024	3314994	28.851 M
MRR	MRR Minrex Resources Ltd	0.008	0.000	0.000	0.008	0.008	452948	8.679 M
MRZ	MRZ Mont Royal Resources Ltd	0.041	-0.004	-8.889	0.042	0.041	14577	3.826 M
MVL	MVL Marvel Gold Ltd	0.011	0.001	10.000	0.011	0.010	9050625	10.366 M
MXR	MXR Maximus Resources Ltd	0.040	-0.002	-4.762	0.040	0.040	107176	17.545 M
NAG	NAG Nagambie Mining Ltd	0.017	-0.003	-15.000	0.020	0.017	1160811	12.746 M
NME	NME Nex Metals Explorations Ltd	0.031	-0.005	-13.889	0.031	0.030	192764	9.802 M
NML	NML Navarre Minerals Ltd	9.500	9.385	8,160.870	9.500	9.500	--	28.556 M
NPM	NPM New Peak Metals Limited	0.013	0.001	8.333	0.013	0.012	200453	3.665 M
NSM	NSM North Stawell Minerals Ltd	0.013	-0.001	-7.143	0.013	0.013	28610	3.818 M
NST	NST Northern Star Resources Ltd	16.540	-0.010	-0.060	16.710	16.390	3522311	18,969.721 M
NWF	NWF Newfield Resources Ltd	0.089	0.000	0.000	0.089	0.089	--	83.723 M
OAR	OAR OAR Resources Ltd	0.002	0.000	0.000	0.002	0.002	287858	6.622 M
OBM	OBM Ora Banda Mining Ltd	0.785	0.045	6.081	0.790	0.740	4231836	1,511.095 M
ORN	ORN Orion Minerals Ltd	0.016	0.000	0.000	0.017	0.016	207064	123.058 M
OZM	OZM Ozaurum Resources Ltd	0.033	-0.003	-8.333	0.035	0.033	159448	5.715 M
PEC	PEC Perpetual Resources Ltd	0.018	0.000	0.000	0.018	0.016	1726940	12.513 M
PGD	PGD Peregrine Gold Ltd	0.150	0.005	3.448	0.150	0.150	13022	11.539 M
PNR	PNR Pantoro Ltd	0.100	0.003	3.093	0.105	0.097	8894071	677.673 M
PRU	PRU Perseus Mining Ltd	2.520	0.010	0.398	2.530	2.490	8217411	3,509.183 M
PRX	PRX Prodigy Gold NL	0.002	0.000	0.000	0.002	0.002	4977	6.350 M
PTR	PTR Petratherm Ltd	0.045	0.002	4.651	0.050	0.044	653590	14.264 M
PUA	PUA Peak Minerals Ltd	0.006	0.000	0.000	0.006	0.006	5189035	14.983 M
QML	QML QMines Ltd	0.062	0.001	1.639	0.062	0.062	218591	21.310 M
RCR	RCR Rincon Resources Ltd	0.016	-0.001	-5.882	0.016	0.016	286815	4.681 M
RED	RED Red 5 Ltd	0.335	-0.020	-5.634	0.340	0.325	20656775	2,346.852 M
REZ	REZ Resources Energy Group Ltd	0.026	-0.002	-7.143	0.026	0.025	897833	18.067 M
RGL	RGL Riversgold Ltd	0.003	0.000	0.000	0.003	0.003	1256207	4.882 M
RHI	RHI Red Hill Iron Ltd	4.070	-0.030	-0.732	4.100	4.060	6906	258.434 M
RML	RML Resolution Minerals Ltd	0.002	0.000	0.000	0.002	0.002	250000	3.220 M
RMS	RMS Ramelius Resources Ltd	2.030	0.000	0.000	2.045	2.010	3024575	2,448.600 M
RND	RND Rand Mining Ltd	2.060	-0.040	-1.905	2.110	2.040	23760	112.330 M
RRL	RRL Regis Resources Ltd	2.450	-0.010	-0.407	2.460	2.420	4107349	1,873.586 M
RSG	RSG Resolute Mining Ltd	0.430	-0.015	-3.371	0.452	0.422	19789557	1,426.464 M
RTG	RTG RTG Mining Inc	0.033	0.000	0.000	0.037	0.033	554761	51.952 M
SBM	SBM St Barbara Ltd	0.305	0.000	0.000	0.315	0.297	11780222	265.961 M
SFM	SFM Santa Fe Minerals Ltd	0.030	0.000	0.000	0.030	0.030	--	2.185 M
SFR	SFR Sandfire Resources NL	10.100	-0.020	-0.198	10.180	9.880	1745322	4,840.704 M
SKY	SKY Sky Metals Ltd	0.051	0.003	6.250	0.052	0.047	268493	29.535 M
SMI	SMI Santana Minerals Ltd	0.605	0.000	0.000	0.640	0.590	1559694	401.350 M
SPQ	SPQ Superior Resources Ltd	0.007	0.001	16.667	0.007	0.006	1171495	15.189 M
SRI	SRI Sipa Resources Ltd	0.016	0.000	0.000	0.016	0.016	37963	3.879 M
STN	STN Saturn Metals Ltd	0.230	-0.005	-2.128	0.245	0.230	85962	75.677 M
TAM	TAM Tanami Gold NL	0.028	0.000	0.000	0.028	0.027	2340602	35.253 M
TBR	TBR Tribune Resources Ltd	4.890	0.010	0.205	4.900	4.860	10465	254.470 M
TG1	TG1 Techgen Metals Ltd	0.030	0.002	7.143	0.030	0.027	425641	4.443 M
TGM	TGM Theta Gold Mines Ltd	0.170	0.000	0.000	0.185	0.170	8959	157.144 M
TLM	TLM Talisman Mining Ltd	0.220	-0.005	-2.222	0.230	0.210	597256	41.430 M
TMX	TMX Terrain Minerals Ltd	0.003	-0.001	-25.000	0.004	0.003	906000	5.400 M
TOE	TOE Toro Energy Ltd	0.290	0.015	5.455	0.290	0.270	233277	33.679 M
TRM	TRM Truscott Mining Corp Ltd	0.060	0.000	0.000	0.066	0.040	138822	14.274 M
TTM	TTM Titan Minerals Ltd	0.450	-0.025	-5.263	0.470	0.450	169391	94.981 M
TZN	TZN Terramin Australia Ltd.	0.110	0.010	10.000	0.110	0.098	576613	198.957 M
WAF	WAF West African Resources Ltd	1.490	-0.045	-2.932	1.560	1.485	4589713	1,880.555 M
WC8	WC8 Wildcat Resources Ltd	0.370	0.030	8.824	0.380	0.335	9443233	358.602 M
WGR	WGR Western Gold Resources Ltd	0.028	-0.001	-3.448	0.028	0.028	893	5.111 M
WGX	WGX Westgold Resources Ltd	2.790	0.000	0.000	2.800	2.750	3975988	2,763.312 M
WMG	WMG Western Mines Group Ltd	0.180	-0.005	-2.703	0.180	0.180	88526	16.179 M
XAM	XAM Xanadu Mines Ltd	0.054	0.001	1.887	0.055	0.053	3837453	89.233 M
YRL	YRL Yandal Resources Ltd	0.320	-0.020	-5.882	0.350	0.320	350883	93.733 M
ZAG	ZAG Zuleika Gold Ltd	0.017	0.000	0.000	0.017	0.017	--	12.595 M
ZIM	ZIM Zimplats Holdings Ltd	14.200	-1.190	-7.732	15.290	13.510	24280	1,646.861 M

* Data powered by EODHD®. Data delayed 20 minutes unless otherwise indicated.

Show all companies

Frequently Asked Questions

1. How can one invest in gold?

Most popularly, there are three major avenues to invest in gold – buying physical gold, purchasing gold exchange-traded fund (ETF), and trading in gold and its derivatives such as futures and options in the commodity market.

Physical gold can be purchased in the form of coins, bars, and bullions. For those who want to invest in gold without actually buying physical gold, ETFs could be a good option. ETFs are passive investment instruments which provide better flexibility and liquidity relative to buying physical gold. They also guarantee purity and hassle-free transaction with no burden of storage. Gold derivatives such as futures and options allow investors to buy or sell gold at a specific price for a certain period.

How does Fed fund rate affect gold prices?

Interest rates and gold prices are inversely corelated to each other. Rising Fed fund rates make fixed income and bond investments more attractive, as a result money flowing into higher-yielding investment increases, shifting investors' interest away from non-yielding investments such as gold. Contrarily, when interest rates trend lower, the inflow towards gold increases as investors don’t get good returns on their deposits and purchase gold by breaking their deposits, causing an increase in gold demand and pushing prices higher.

2. Why is gold called a safe-haven investment?

Gold has maintained its position as one of the major investment assets, backed by its rich history and value. For years, people have been investing in gold, driven by various factors. Gold holds some value as insurance against rough economic downturns.

Gold is commonly known as a safe-haven asset as it is negatively correlated with other assets. In times of market turbulence, when the prices of most assets decline, gold retains its value. Since gold does not easily corrode, it can be stored for many years without any concerns of it losing its properties. Investing in gold can provide a hedge against inflation. Furthermore, gold offers high liquidity thus making it attractive for big investors such as the institutions.

3. What is the correlation between gold and silver?

The gold-silver ratio is the most conventional form of expression that is being used to track the exchange rate. It is an expression of the gold and silver price relationship that shows the number of ounces of silver required to equate the value of one ounce of gold. For example, if the price of gold is US$500 per ounce and the price of silver is US$20 per ounce. Then the gold-silver ratio would be 25:1.

The rationale behind tracking the gold-silver ratio is that the prices of these two precious metals have a well-established correlation and they rarely deviate from each other.

4. Which are the most prominent gold mining areas in Australia?

As per the United States Geological Survey data, Australia holds the largest gold reserves in the world, followed by Russia and South Africa. The US contains the fourth largest gold reserves in the world.

In Australia, nearly 60% of gold deposits are concentrated in the Western Australia region while the remaining deposits are in Northern Territory and other states. The primary gold deposits in the country include those mined at Kalgoorlie in the Super Pit, St Ives, Granny Smith, Norseman, Callie, Mount Magnet, Gympie, Ravenswood, Stawell, Cadia, Henty, and Challenger. The Lachlan Fold Belt of NSW is the second-largest gold-producing region in Australia.