Precious Metal Prices
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Enjoying what you see and read?
We pour our heart into keeping preciousmetalprices.com fast, clean and free — no paywalls, no clutter, just reliable facts and live prices. If it helps you, the nicest way to say thank you is to pass it on. Every share helps a fellow investor discover us and keeps the project going. 💛
Twenty years of Gold data, averaged calendar month by calendar month and condensed into a single bar chart.
Bars in green mark months that averaged a gain; those in red averaged a loss.
Tip: Averages describe the past. They carry no promise about the months ahead.
One square per trading session, Monday through Friday, shaded by the daily move in the Gold price.
Sessions that closed up appear green, sessions that closed down appear red.
Point at a square to read the level and the move behind it.
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🇺🇸 EUR/USD1.1676
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🇨🇭 EUR/CHF0.9356
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🇬🇧 EUR/GBP0.8556
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Gold/Silver66.80
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Gold/Platinum2.47
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Gold/Palladium3.43
Read across the grid to set every precious metal beside the others, measured in GBP over five separate windows.
Figures shaded green are gains, those in red are losses. A dash (—) means the window is not covered by our records.
Instantly calculate the material value of your precious metals by weight and fineness.
Formula: Weight × (Fineness/1000) × current gram price in GBP.
Understanding Precious Metal Prices
Precious metals are rare, corrosion-resistant metals of high economic significance. The four classic precious metals — gold, silver, platinum and palladium — are traded worldwide on specialized exchanges and in over-the-counter (OTC) markets. Copper is not strictly classified as a precious metal, but as an industrial metal and historic coinage metal it plays an important role in the commodities market.
The trading of precious metals dates back millennia: gold served as currency in ancient Egypt, silver was the basis of the Greek and Roman coinage systems. Today, precious metals are both investment vehicles and indispensable industrial raw materials. Gold is primarily sought as a store of value and crisis currency, while silver, platinum and palladium are to a significant extent consumed industrially — for example in catalytic converters, electronics, solar panels and medical technology.
The Five Most Important Metals at a Glance
The prices of all precious metals are quoted internationally in US dollars per troy ounce (troy ounce = 31.1035 grams). For European investors, the EUR/USD exchange rate is therefore always relevant: a weak euro makes precious metals more expensive in the home currency, a strong euro makes them cheaper. On preciousmetalprices.com we show you all prices in both euros and dollars — including the exchange rate effects on your actual returns.
How Are Precious Metal Prices Determined?
The price formation for precious metals is a multi-step process that takes place at various trading venues worldwide. Unlike stocks, there is no single central exchange — instead, several mechanisms work together to form the global reference price.
The Daily Closing Price: The Official Reference Price
The London bullion market hosts the world's most important price fixing for gold and silver. On every trading day the official reference price is determined there in an electronic auction process in which accredited banks and trading houses participate.
- ◆ Gold: Twice daily — 10:30 AM (AM Fix) and 3:00 PM (PM Fix) London time. The PM Fix serves as the global daily closing price.
- ◆ Silver: Once daily at 12:00 PM London time. Lower trading volume than gold.
- ◆ Platinum & Palladium: Twice daily (9:45 AM and 2:00 PM) through a separate auction process, administered by the London Metal Exchange (LME).
Spot Market and OTC Trading
The spot price (also cash price) is the current market price for immediate delivery of a precious metal. It is formed around the clock in over-the-counter (OTC) trading — a decentralized network of banks, trading houses and institutional investors. London, with an estimated daily trading volume of 30–50 billion USD for gold alone, is the global center of OTC precious metal trading.
Unlike exchange trading, there is no central order book in the OTC market. Prices are agreed bilaterally between trading partners but closely follow the global spot price. For private investors, the spot price is the most important reference point, as dealers derive their buy and sell prices from it.
COMEX and Other Futures Exchanges
The COMEX (Commodity Exchange) in New York, a division of the CME Group, is the world's largest futures exchange for gold and silver futures. Standardized contracts are traded here — one gold future comprises 100 troy ounces (approx. 3.1 kg). The majority of COMEX contracts are not physically settled but closed out before the expiration date (cash settlement).
Other relevant trading venues include the Shanghai Gold Exchange (SGE) — the world's largest physical gold exchange —, the Tokyo Commodity Exchange (TOCOM) and the Multi Commodity Exchange (MCX) in India. The Shanghai premium (surcharge of the SGE price over the London spot price) serves as an indicator of physical demand in China.
Precious Metals as an Investment
Precious metals are among the oldest forms of investment in human history. In a diversified portfolio, they serve as stability anchors, inflation hedges and crisis insurance. While stocks and bonds depend on a debtor's ability to pay, precious metals possess an intrinsic value without counterparty risk. The choice of investment depends on the amount, time horizon and personal risk appetite.
Physical Bars and Coins
Buying physical precious metals directly is the most traditional form of investment. Investors purchase bars or coins from certified dealers and store them at home or in a high-security vault. LBMA-certified manufacturers (e.g. Heraeus, Umicore, Argor-Heraeus) are important to ensure resaleability.
- ◆ Watch the premium: For small denominations (1 g bars), the premium is 15–20% above spot; for 1 oz (31.1 g) only 2–4%. Larger units (100 g, 1 kg) are the most cost-effective.
- ◆ Popular investment coins: Krugerrand, Maple Leaf, Vienna Philharmonic, American Eagle, Britannia — all with 999.9/1000 fineness (except Krugerrand: 916.7/1000 alloy, 1 oz fine gold).
- ◆ Storage: Home safe (adjust insurance!), bank safe deposit box (50–200 EUR/year) or a professional bullion vault. Before you sign, check the vault operator against hard criteria: allocated and segregated storage rather than an unallocated pool, a certificate of insurance naming the sum insured, an independent annual bar audit, a stated right to withdraw the metal in physical form, and the governing law and jurisdiction of the storage contract.
ETCs and Exchange-Traded Products
Exchange Traded Commodities (ETCs) replicate the precious metal price in your portfolio without the need to store physical goods. Physically backed ETCs with a delivery option are popular because they come closest to owning the underlying metal:
- ◆ Gold ETCs: Invesco Physical Gold (A1AA5X), WisdomTree Physical Gold (A0N62G) and others track the gold spot price with physical backing.
- ◆ Silver ETCs: WisdomTree Physical Silver (A0N62F) and iShares Physical Silver (A1KWPR) are among the most popular silver ETCs. Note: tax treatment of ETCs varies by country.
- ◆ Platinum/Palladium ETCs: WisdomTree Physical Platinum (A0N62D) and Palladium (A0N62E) as common options
Mining Stocks and Funds
Shares in precious metal producers offer a leverage on the commodity price: rising metal prices increase profit margins disproportionately. At the same time, mining stocks carry company-specific risks (operational issues, political risks in mining countries). Major gold producers like Barrick Gold, Newmont and Agnico Eagle pay dividends, which precious metals themselves do not. Diversified mining funds (e.g. BGF World Gold Fund) spread the individual stock risk.
Precious Metal Savings Plans
With a precious metal savings plan you invest a fixed amount regularly (from approx. 25–50 EUR/month) in physical gold or silver. The dollar-cost averaging effect smooths out price fluctuations: at low prices you automatically buy more, at high prices less. Many specialist dealers and online platforms offer savings plans with secure vault storage and delivery options. Use our Savings Plan Calculator to simulate long-term performance.
Precious Metals Investor Comparison
| Criterion | Gold | Silver | Platinum | Palladium |
|---|---|---|---|---|
| Main Driver | Monetary/Investment | Industry + Investment | Auto Industry | Auto Catalysts |
| Volatility | Medium (~15%) | High (~25%) | High (~20%) | Very High (~30%) |
| VAT (UK) | Exempt | 20% | 20% | 20% |
| Storage Costs | Low | High (volume) | Low | Low |
| Portfolio Share | 5–15 % | 0–5 % | 0–3 % | 0–2 % |
Taxes on Precious Metals in the UK
The UK offers one of the most favourable tax environments for precious metal investors in Europe. Gold enjoys a clear double advantage: VAT-exempt on purchase and potentially CGT-free on sale. Understanding these rules is essential — they can affect your actual return by 20–30%.
VAT: Investment Gold Is Exempt
Investment gold is exempt from VAT in the UK under VAT Act 1994, Schedule 9, Group 15. This applies to gold bars of 995/1000 fineness or higher and gold coins of 900/1000 or higher fineness that are or have been legal tender. Post-Brexit, the UK retained this exemption independently of EU law.
Silver, platinum and palladium carry the standard VAT rate of 20% on the full price. HMRC excludes precious metals and investment gold from the VAT margin schemes altogether (VATMARG02100), and the notice that used to be cited for the opposite view, VAT Notice 718, was withdrawn on 23 December 2021 — so a second-hand silver coin is taxed no differently from a new bar. That single rule is why British silver premiums sit structurally above those in EU countries where the margin scheme survives. Some investors buy through overseas dealers with bonded warehouse storage to defer the charge; deferral is not avoidance, the 20% falls due on import.
Capital Gains Tax (CGT)
Gains from selling precious metals in the UK are generally subject to Capital Gains Tax (CGT). However, there is a crucial exemption for UK legal tender coins:
Key advantage — CGT-free coins: Gold and silver Britannia coins and gold Sovereign coins are UK legal tender and therefore exempt from Capital Gains Tax regardless of the profit or holding period. This makes them the most tax-efficient way to invest in physical precious metals in the UK. Use our Tax Estimator to compare scenarios.
ETCs and ISA Eligibility
Precious metal ETCs such as iShares Physical Gold (SGLN) or WisdomTree Physical Gold (PHGP) are chargeable assets and produce a CGT liability on disposal. Unlike shares, gold ETCs are not eligible for Stocks & Shares ISAs, so the ISA shelter cannot be used. Gains above the Annual Exempt Amount of £3,000 are charged at 18% or 24% depending on where the gain sits against your basic rate band. Note the contrast with physical coins: an ETC never carries the legal tender exemption that takes a Sovereign or a Britannia out of charge entirely.
Our Tools & Calculators
On preciousmetalprices.com you have access to eight specialized calculators and tools to calculate precious metal prices, simulate investment strategies and estimate tax implications. All calculators use current spot prices and are updated every minute.
Calculate the value of your gold in real time — by weight, fineness and current market price.
Determine silver value by weight and alloy. Supports fine silver, sterling and other alloys.
Calculate the material value of jewelry, dental gold and scrap metal based on pure precious metal content.
Determine realistic purchase prices: spot price minus typical dealer margin (2–5%).
Convert weight units: gram, kilogram, troy ounce, grain, pennyweight and tael.
Simulate a gold or silver savings plan with dollar-cost averaging over freely selectable periods.
Check whether the weight and dimensions of your coin match official specifications (counterfeit detection).
Estimate capital gains tax when selling precious metals based on purchase price, holding period and applicable rates.