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Gold

2396.6 USD/oz 2.3 (0.1%) (Last updated - July 25, 2024 12:58 AM UTC )

Day High

1811.5

Day Low

1780.3

Previous Close

1791.95

52 Week Range

1677.9 - 2078.8

Change YTD

15.68%

Risk Disclaimer

About

Performance USD/oz	Change
5 Day	-2.43%
1 Month	2.81%
3 Months	2.49%
6 Months	18.77%
52 Week	22.05%

July 25, 2024 12:58 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	0.330	-0.005	-1.493	0.345	0.330	2432633	208.371 M
A8G	A8G Australasian Metals Limited	0.084	0.004	5.000	0.084	0.084	3700	3.648 M
AAR	AAR Astral Resources NL	0.073	-0.007	-8.750	0.078	0.073	781242	78.557 M
AAU	AAU Antilles Gold Ltd	0.003	-0.001	-25.000	0.004	0.003	1285000	4.384 M
ADN	ADN Andromeda Metals Ltd	0.019	-0.003	-13.636	0.021	0.018	10507035	71.536 M
AEE	AEE Aura Energy Ltd	0.130	-0.010	-7.143	0.135	0.120	1853270	118.295 M
AGC	AGC Australian Gold and Copper Ltd	0.280	-0.010	-3.448	0.290	0.265	584569	74.873 M
AIS	AIS Aeris Resources Ltd	0.180	-0.020	-10.000	0.195	0.175	4785103	217.693 M
ALK	ALK Alkane Resources Ltd	0.500	-0.025	-4.762	0.525	0.495	2177172	331.920 M
AME	AME Alto Metals Ltd	0.033	0.000	0.000	0.033	0.033	570700	25.975 M
AOA	AOA Ausmon Resources Ltd	0.003	0.001	50.000	0.003	0.003	51667	2.298 M
APC	APC Australian Potash Ltd	0.001	0.000	0.000	0.001	0.001	472617	4.020 M
ARD	ARD Argent Minerals Ltd	0.017	0.000	0.000	0.019	0.015	6263688	25.802 M
ARL	ARL Ardea Resources Ltd	0.465	-0.010	-2.105	0.490	0.450	336710	91.854 M
ARN	ARN Aldoro Resources Ltd	0.085	0.002	2.410	0.085	0.084	77295	11.174 M
AS2	AS2 Askari Metals Ltd	0.040	-0.004	-9.091	0.040	0.040	19069	4.201 M
AUC	AUC Ausgold Ltd	0.035	-0.001	-2.778	0.037	0.034	5600773	110.486 M
AUN	AUN Aurumin Ltd	0.039	0.000	0.000	0.039	0.038	635986	18.684 M
AX8	AX8 Accelerate Resources Ltd	0.011	-0.001	-8.333	0.012	0.011	1236404	9.257 M
AZL	AZL Arizona Lithium Ltd	0.018	-0.001	-5.263	0.019	0.018	3032488	98.424 M
BC8	BC8 Black Cat Syndicate Ltd	0.345	0.005	1.471	0.355	0.330	2031101	139.812 M
BCN	BCN Beacon Minerals Ltd	0.025	0.001	4.167	0.025	0.024	99027	97.676 M
BDM	BDM Burgundy Diamond Mines Ltd	0.170	0.000	0.000	0.175	0.160	1889432	248.733 M
BEZ	BEZ Besra Gold Inc	0.054	0.003	5.882	0.058	0.052	1420012	56.348 M
BGD	BGD Barton Gold Holdings Ltd	0.240	-0.010	-4.000	0.265	0.240	239462	53.572 M
BGL	BGL Bellevue Gold Ltd	1.830	0.055	3.099	1.850	1.785	3855554	2,236.952 M
BHP	BHP BHP Group Limited	41.190	-0.370	-0.890	41.530	41.150	6176419	216,554.537 M
BMO	BMO Bastion Minerals Ltd	0.006	0.000	0.000	0.006	0.006	--	2.611 M
BNR	BNR Bulletin Resources Ltd	0.050	0.001	2.041	0.050	0.050	250000	13.800 M
BNZ	BNZ Benz Mining Corp	0.115	-0.005	-4.167	0.125	0.115	50659	25.732 M
BRX	BRX Belararox Ltd	0.245	-0.005	-2.000	0.245	0.235	127721	23.013 M
BSX	BSX Blackstone Minerals Ltd	0.040	-0.003	-6.977	0.040	0.037	873895	25.741 M
CAI	CAI Calidus Resources Ltd	0.115	0.000	0.000	0.115	0.115	--	93.678 M
CAY	CAY Canyon Resources Ltd	0.078	0.003	4.000	0.078	0.075	461378	100.331 M
CDT	CDT Castle Minerals Ltd	0.004	0.000	0.000	0.004	0.003	3311674	3.984 M
CHN	CHN Chalice Mining Limited	1.030	-0.045	-4.186	1.060	1.025	1746141	470.645 M
CLA	CLA Celsius Resources Ltd	0.013	0.000	0.000	0.013	0.012	1409497	33.991 M
CLZ	CLZ Classic Minerals Ltd	0.001	0.000	0.000	0.002	0.001	5536668	1.007 M
CMM	CMM Capricorn Metals Ltd	5.250	-0.210	-3.846	5.410	5.220	574642	2,068.854 M
COY	COY Coppermoly Ltd	0.010	0.000	0.000	0.010	0.010	--	7.077 M
CST	CST Castile Resources Ltd	0.080	0.000	0.000	0.080	0.080	18906	19.594 M
CWX	CWX Carawine Resources Limited	0.086	0.000	0.000	0.086	0.086	--	20.307 M
CY5	CY5 Cygnus Metals Limited	0.064	0.003	4.918	0.065	0.062	1158811	18.482 M
CYL	CYL Catalyst Metals Ltd	1.870	-0.050	-2.604	1.945	1.830	755293	399.084 M
CZN	CZN Corazon Mining Ltd	0.005	0.000	0.000	0.005	0.005	100000	3.340 M
DAF	DAF Discovery Africa Ltd	0.011	0.000	0.000	0.011	0.011	--	2.577 M
DCX	DCX Discovex Resources Ltd	--	--	--	--	--	--	0.066 M
DEG	DEG De Grey Mining Ltd	1.190	-0.025	-2.058	1.215	1.190	4522427	2,928.731 M
DGR	DGR DGR Global Ltd	0.024	0.002	9.091	0.025	0.021	2623764	27.136 M
DTR	DTR Dateline Resources Ltd	0.006	0.000	0.000	0.006	0.005	800000	8.745 M
EMR	EMR Emerald Resources NL	3.820	-0.230	-5.679	3.980	3.820	1450864	2,650.697 M
ENT	ENT Enterprise Metals Ltd	0.003	0.000	0.000	0.003	0.003	--	2.654 M
EQR	EQR EQ Resources Ltd	0.046	0.000	0.000	0.046	0.046	--	101.199 M
ERM	ERM Emmerson Resources Ltd	0.054	-0.002	-3.571	0.054	0.054	94630	34.317 M
ESR	ESR Estrella Resources Ltd	0.005	0.001	25.000	0.005	0.005	700000	7.038 M
EVN	EVN Evolution Mining Ltd	3.960	-0.140	-3.415	4.080	3.960	8608282	8,122.250 M
FAU	FAU First Au Ltd	0.002	0.000	0.000	0.002	0.002	--	3.324 M
FML	FML Focus Minerals Ltd	0.137	0.002	1.482	0.137	0.135	15359	40.835 M
G88	G88 Golden Mile Resources Ltd	0.010	-0.001	-9.091	0.010	0.010	32514	4.112 M
GBZ	GBZ GBM Resources Ltd	0.009	0.000	0.000	0.009	0.009	--	10.410 M
GCR	GCR Golden Cross Resources Ltd	0.002	0.000	0.000	0.002	0.002	--	2.195 M
GES	GES Genesis Resources Ltd	0.005	0.000	0.000	0.005	0.005	--	3.914 M
GMD	GMD Genesis Minerals Ltd	2.120	-0.050	-2.304	2.170	2.090	5046672	2,423.502 M
GML	GML Gateway Mining Ltd	0.024	0.001	4.348	0.024	0.024	300000	9.887 M
GMN	GMN Gold Mountain Ltd	0.003	-0.001	-25.000	0.004	0.003	17124924	11.333 M
GOR	GOR Gold Road Resources Ltd	1.775	-0.035	-1.934	1.815	1.762	4699162	1,987.929 M
GRV	GRV Greenvale Energy Ltd	0.033	0.003	10.000	0.033	0.031	116955	16.514 M
GSN	GSN Great Southern Mining Ltd	0.018	0.001	5.882	0.018	0.018	134689	16.912 M
GTE	GTE Great Western Exploration Ltd	0.027	-0.003	-10.000	0.030	0.027	113162	10.440 M
GWR	GWR GWR Group Ltd	0.079	0.001	1.282	0.079	0.079	24581	25.697 M
HAV	HAV Havilah Resources Ltd	0.200	-0.005	-2.439	0.205	0.200	352673	75.993 M
HLX	HLX Helix Resources Ltd	0.003	0.000	0.000	0.003	0.003	5209372	9.793 M
HRN	HRN Horizon Gold Ltd	0.280	0.000	0.000	0.280	0.280	--	40.555 M
HRZ	HRZ Horizon Minerals Limited	0.036	-0.001	-2.703	0.038	0.035	903624	39.150 M
IBG	IBG Ironbark Zinc Ltd	0.003	0.000	0.000	0.003	0.003	1495847	5.078 M
IEC	IEC Intra Energy Corporation	0.001	-0.001	-50.000	0.001	0.001	400000	3.382 M
IPT	IPT Impact Minerals Ltd	0.015	0.001	3.448	0.015	0.015	187881	48.951 M
IXR	IXR Ionic Rare Earths Ltd	0.009	-0.001	-10.000	0.010	0.009	463509	48.313 M
KCN	KCN Kingsgate Consolidated Ltd.	1.535	-0.070	-4.361	1.575	1.515	517933	433.023 M
KGD	KGD Kula Gold Ltd	0.011	-0.002	-15.385	0.013	0.011	735674	7.719 M
KIN	KIN KIN Mining NL	0.058	0.001	1.754	0.059	0.056	32977	70.689 M
KNB	KNB Koonenberry Gold Ltd	0.016	0.000	0.000	0.016	0.016	82900	4.892 M
KRM	KRM Kingsrose Mining Ltd	0.047	-0.002	-4.082	0.048	0.046	799737	35.369 M
LCL	LCL LCL Resources Limited	0.008	0.000	0.000	0.008	0.008	58000	8.684 M
LCY	LCY Legacy Iron Ore Ltd	0.017	-0.001	-5.556	0.018	0.017	397900	123.417 M
LEX	LEX Lefroy Exploration Ltd	0.072	0.002	2.857	0.073	0.071	128085	15.836 M
LKY	LKY Locksley Resources Ltd	0.025	0.000	0.000	0.025	0.025	--	3.667 M
M3M	M3M M3 Mining Ltd	0.046	0.001	2.222	0.046	0.044	206894	2.752 M
MAT	MAT Matsa Resources Ltd	0.025	0.000	0.000	0.025	0.025	328333	14.863 M
MCT	MCT Metalicity Ltd	0.002	-0.001	-33.333	0.002	0.002	2279164	8.972 M
MDI	MDI Middle Island Resources Ltd	0.017	-0.003	-15.000	0.017	0.017	200000	3.704 M
MEG	MEG Megado Minerals Limited	0.010	-0.001	-9.091	0.010	0.010	1139669	2.036 M
MEU	MEU Marmota Energy Ltd	0.043	0.001	2.381	0.043	0.041	611685	48.896 M
MKG	MKG Mako Gold Ltd	0.010	-0.001	-9.091	0.010	0.010	25000	9.760 M
MKR	MKR Manuka Resources Ltd	0.036	0.004	12.500	0.036	0.034	2686506	28.072 M
MRR	MRR Minrex Resources Ltd	0.009	0.000	0.000	0.010	0.009	3872976	9.764 M
MRZ	MRZ Mont Royal Resources Ltd	0.060	-0.006	-9.091	0.060	0.056	315552	5.612 M
MVL	MVL Marvel Gold Ltd	0.008	0.000	0.000	0.008	0.008	--	5.183 M
MXR	MXR Maximus Resources Ltd	0.030	0.000	0.000	0.030	0.030	50109	13.266 M
NAG	NAG Nagambie Mining Ltd	0.008	0.001	14.286	0.008	0.008	300734	7.966 M
NME	NME Nex Metals Explorations Ltd	0.026	0.000	0.000	0.026	0.026	--	9.455 M
NML	NML Navarre Minerals Ltd	0.019	0.000	0.000	0.019	0.019	--	28.556 M
NPM	NPM New Peak Metals Limited	0.014	-0.001	-6.667	0.014	0.014	300000	4.762 M
NSM	NSM North Stawell Minerals Ltd	0.020	0.000	0.000	0.020	0.020	62440	2.798 M
NST	NST Northern Star Resources Ltd	14.290	-0.060	-0.418	14.700	14.010	5433795	16,690.596 M
NWF	NWF Newfield Resources Ltd	0.130	0.000	0.000	0.130	0.130	--	108.181 M
OAR	OAR OAR Resources Ltd	0.002	0.001	33.333	0.002	0.002	259172	6.464 M
OBM	OBM Ora Banda Mining Ltd	0.430	0.030	7.500	0.440	0.410	1154134	835.941 M
ORN	ORN Orion Minerals Ltd	0.016	-0.002	-11.111	0.017	0.016	1954292	91.335 M
OZM	OZM Ozaurum Resources Ltd	0.052	0.001	1.961	0.052	0.052	385	10.160 M
PEC	PEC Perpetual Resources Ltd	0.011	-0.002	-15.385	0.015	0.011	17961869	7.040 M
PGD	PGD Peregrine Gold Ltd	0.190	0.003	1.333	0.190	0.190	59222	13.576 M
PNR	PNR Pantoro Ltd	0.084	0.001	1.205	0.085	0.082	7122195	593.771 M
PNX	PNX PNX Metals Ltd	0.004	0.000	0.000	0.004	0.004	2200000	26.866 M
PRU	PRU Perseus Mining Ltd	2.580	-0.110	-4.089	2.660	2.570	3861106	3,750.720 M
PRX	PRX Prodigy Gold NL	0.003	0.000	0.000	0.003	0.002	5246744	6.353 M
PTR	PTR Petratherm Ltd	0.019	0.000	0.000	0.019	0.019	--	4.979 M
PUA	PUA Peak Minerals Ltd	0.004	-0.001	-18.367	0.004	0.004	317142	5.987 M
QML	QML QMines Ltd	0.040	-0.011	-21.569	0.050	0.036	813398	13.298 M
RCR	RCR Rincon Resources Ltd	0.091	-0.008	-8.081	0.094	0.090	3474004	30.584 M
RED	RED Red 5 Ltd	0.395	-0.020	-4.819	0.410	0.390	23045436	2,857.038 M
REZ	REZ Resources Energy Group Ltd	0.023	0.001	4.546	0.023	0.022	60339	10.993 M
RGL	RGL Riversgold Ltd	0.006	0.000	0.000	0.006	0.006	2498837	8.467 M
RHI	RHI Red Hill Iron Ltd	5.500	-0.040	-0.722	5.580	5.450	55900	359.115 M
RML	RML Resolution Minerals Ltd	0.003	0.000	0.000	0.003	0.003	--	3.220 M
RMS	RMS Ramelius Resources Ltd	1.935	-0.060	-3.008	1.997	1.935	2651315	2,322.320 M
RND	RND Rand Mining Ltd	1.485	0.020	1.365	1.485	1.485	1	84.461 M
RRL	RRL Regis Resources Ltd	1.725	-0.185	-9.686	1.817	1.720	10825125	1,484.240 M
RSG	RSG Resolute Mining Ltd	0.615	-0.035	-5.385	0.647	0.610	9876292	1,415.815 M
RTG	RTG RTG Mining Inc	0.042	-0.001	-2.326	0.042	0.040	293690	51.818 M
SBM	SBM St Barbara Ltd	0.215	-0.010	-4.444	0.220	0.210	3870380	196.313 M
SFM	SFM Santa Fe Minerals Ltd	0.032	0.000	0.000	0.032	0.032	--	2.330 M
SFR	SFR Sandfire Resources NL	8.160	-0.290	-3.432	8.420	8.130	4016576	4,001.947 M
SIH	SIH Sihayo Gold Ltd	0.002	-0.001	-20.000	0.002	0.002	450000	24.409 M
SKY	SKY Sky Metals Ltd	0.032	0.000	0.000	0.032	0.032	232461	20.634 M
SMI	SMI Santana Minerals Ltd	1.125	-0.055	-4.661	1.200	1.110	375996	253.016 M
SPQ	SPQ Superior Resources Ltd	0.010	0.001	11.111	0.010	0.009	783736	20.012 M
SRI	SRI Sipa Resources Ltd	0.019	0.001	5.556	0.019	0.019	66288	3.879 M
STN	STN Saturn Metals Ltd	0.180	-0.010	-5.263	0.185	0.180	426600	48.937 M
TAM	TAM Tanami Gold NL	0.029	-0.001	-3.333	0.029	0.028	1497764	37.603 M
TBR	TBR Tribune Resources Ltd	3.800	-0.140	-3.553	3.940	3.800	6634	205.150 M
TG1	TG1 Techgen Metals Ltd	0.030	0.001	3.448	0.033	0.030	278421	3.588 M
TGM	TGM Theta Gold Mines Ltd	0.135	0.005	3.846	0.135	0.120	200558	99.616 M
TLM	TLM Talisman Mining Ltd	0.265	-0.005	-1.852	0.270	0.265	38792	54.613 M
TMX	TMX Terrain Minerals Ltd	0.004	0.001	33.333	0.004	0.004	2169084	4.295 M
TOE	TOE Toro Energy Ltd	0.310	-0.020	-6.061	0.330	0.310	161186	37.889 M
TRM	TRM Truscott Mining Corp Ltd	0.060	0.000	0.000	0.060	0.060	--	11.169 M
TTM	TTM Titan Minerals Ltd	0.045	-0.405	-90.000	0.045	0.042	975645	88.242 M
TZN	TZN Terramin Australia Ltd.	0.034	0.001	3.030	0.034	0.034	175000	65.613 M
WAF	WAF West African Resources Ltd	1.395	-0.095	-6.376	1.435	1.382	6411908	1,751.391 M
WC8	WC8 Wildcat Resources Ltd	0.240	-0.005	-2.041	0.240	0.230	2792469	319.738 M
WGR	WGR Western Gold Resources Ltd	0.028	-0.003	-9.677	0.030	0.028	50000	5.281 M
WGX	WGX Westgold Resources Ltd	2.620	-0.100	-3.677	2.675	2.560	4516519	1,292.203 M
WMG	WMG Western Mines Group Ltd	0.260	0.020	8.333	0.260	0.260	48020	20.225 M
XAM	XAM Xanadu Mines Ltd	0.056	-0.003	-5.085	0.060	0.055	2061770	102.961 M
YRL	YRL Yandal Resources Ltd	0.155	0.005	3.333	0.155	0.155	59000	41.510 M
ZAG	ZAG Zuleika Gold Ltd	0.017	-0.001	-5.556	0.018	0.017	893947	13.336 M
ZIM	ZIM Zimplats Holdings Ltd	16.490	-0.280	-1.670	16.770	16.300	16411	1,792.173 M

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

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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.