As of May 2026, the London (morning fixing) price of an ounce of gold cost an average of *** U.S. dollars, a decrease compared to the average monthly morning fixing price of *** U.S. dollars per ounce in the previous month.
London fixing gold price
In January 2020, the average price for an ounce of fine gold was *** U.S. dollars. It increased to *** U.S. dollars as of April 2022. Although the monthly price for fine gold fluctuates, the average annual price of fine gold is gradually increasing. In 2001, the price for one ounce of gold was *** U.S. dollars, and by 2012 the price had risen to some U.S. dollars. By 2024, the annual average gold price was nearly dollars per ounce. In that year, global gold demand reached ** metric tons worldwide.
Price determinants of fine gold
Fine gold is considered to be almost pure gold, where the value of the metal depends on the percentage of fineness. Twenty-four-carat gold is considered fine gold (from 99.9 percent gold by mass and higher). The London Gold Fix acts as a benchmark for the price of gold. The price of gold is set by the members of the London Gold Market Fixing Ltd undertaken by Barclays and its other members. The price is determined twice per business day at 10:30 am and 3:00 pm based on the London bullion market to settle contracts within the bullion market. The price is based on the equilibrium point between supply and demand agreed upon by participating banks. Gold prices must remain flexible, and gold fixing provides an instantaneous price at specified times.
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London Bullion Market Association. (June 2, 2026). Price for an ounce of fine gold (average price) in London (morning fixing) from January 2011 to May 2026 (in U.S. dollars) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved August 05, 2026, from /statistics/274029/price-for-an-ounce-of-fine-gold-in-london-morning-fixing/
London Bullion Market Association. "Price for an ounce of fine gold (average price) in London (morning fixing) from January 2011 to May 2026 (in U.S. dollars)." Chart. June 2, 2026. ÌÇÐÄÆƽâ°æ. Accessed August 05, 2026. /statistics/274029/price-for-an-ounce-of-fine-gold-in-london-morning-fixing/
London Bullion Market Association. (2026). Price for an ounce of fine gold (average price) in London (morning fixing) from January 2011 to May 2026 (in U.S. dollars). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: August 05, 2026. /statistics/274029/price-for-an-ounce-of-fine-gold-in-london-morning-fixing/
London Bullion Market Association. "Price for An Ounce of Fine Gold (Average Price) in London (Morning Fixing) from January 2011 to May 2026 (in U.S. Dollars)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 2 Jun 2026, /statistics/274029/price-for-an-ounce-of-fine-gold-in-london-morning-fixing/
London Bullion Market Association, Price for an ounce of fine gold (average price) in London (morning fixing) from January 2011 to May 2026 (in U.S. dollars) ÌÇÐÄÆƽâ°æ, /statistics/274029/price-for-an-ounce-of-fine-gold-in-london-morning-fixing/ (last visited August 05, 2026)
Price for an ounce of fine gold (average price) in London (morning fixing) from January 2011 to May 2026 (in U.S. dollars) [Graph], London Bullion Market Association, June 2, 2026. [Online]. Available: /statistics/274029/price-for-an-ounce-of-fine-gold-in-london-morning-fixing/
