Every working day we publish two reference rates for gold and silver, one in the morning and one in the evening. Here is what those numbers mean and how every other price on this site is worked out from them.
One rate, every purity
We publish the rate for fine metal: 24K gold and 999 silver. Every lower purity is calculated from that same rate by its metal content, so the prices always agree with each other:
- 22K gold contains 91.6% gold, so it is priced at 22/24 of the 24K rate.
- 18K gold contains 75% gold, so it is priced at 18/24 of the 24K rate.
- 925 sterling silver contains 92.5% silver and is priced from the 999 rate in the same way.
Grams, sovereigns, tolas and ounces
Gold is usually quoted per 10 grams and silver per kilogram. Our rate pages also show the units people buy in: 1 gram, 8 grams (one sovereign), a tola (11.66 grams) and a troy ounce (31.10 grams), so you can compare like with like.
What the rate does not include
The published rate is the value of the metal only. Making charges, where they apply, and 3% GST are added to your final quote. Coins and bars carry small making charges; jewellery carries more, depending on the design and the work involved.
Always check the time
Every rate shows when it was published, at the top of each page and beside the rate tables. If you are comparing prices, compare rates from the same session. To lock in a price, ask our desk for a firm quote.
