Gold Price Today: How Much Is Gold Worth?

Gold Price per Ounce

As of July 24, 2024, the current price of gold is $2408.89 per ounce. This represents a slight decrease from yesterday's price of $2409.12 per ounce.

Historical Gold Prices

The price of gold has fluctuated over time, but it has generally trended upwards in recent years. The following table shows the historical gold price per ounce for the past 10 years:

| Year | Gold Price per Ounce | |---|---| | 2014 | $1245.25 | | 2015 | $1158.85 | | 2016 | $1261.00 | | 2017 | $1294.25 | | 2018 | $1348.50 | | 2019 | $1462.25 | | 2020 | $1895.00 | | 2021 | $1826.25 | | 2022 | $1950.50 | | 2023 | $2387.04 |

As you can see, the price of gold has increased significantly over the past 10 years. This is due to a number of factors, including increased demand from investors and central banks, as well as supply disruptions.

Factors that Affect the Gold Price

The price of gold is influenced by a number of factors, including:

* **Economic conditions:** Gold is often seen as a safe haven asset, so its price tends to increase during times of economic uncertainty. * **Inflation:** Gold is also a hedge against inflation, so its price tends to rise when inflation is high. * **Interest rates:** Gold tends to perform well when interest rates are low, as it is a non-yielding asset. * **Supply and demand:** The price of gold is also affected by supply and demand. When demand for gold is high, its price tends to increase. When supply is high, its price tends to decrease.

How to Invest in Gold

There are a number of ways to invest in gold, including:

* **Buying physical gold:** You can buy physical gold in the form of bars, coins, or jewelry. * **Buying gold ETFs:** You can also invest in gold through exchange-traded funds (ETFs). Gold ETFs are baskets of gold stocks that trade on stock exchanges. * **Buying gold futures:** You can also invest in gold through futures contracts. Gold futures are contracts to buy or sell gold at a set price on a future date.