Gold Price in GBP
1 oz Gold = 3,020.60 GBP · 1 g Gold = 97.1145 GBP
Provider's last update: 2026-10-29 21:20 UTC · Source: gold-api.com (time reported by the provider; it may be when the provider last checked the price, not the last market trade)
USD→GBP conversion: ECB reference rate of 2026-10-29
Gold to GBP by weight
1 troy ounce of gold = 3,020.6 GBP
Troy ounce (31.1035 g) — the standard unit for precious metals, not the 28.35 g ounce used for food.
Spot value of the pure metal. A jeweller's or dealer's buying and selling prices are different.
Quick Stats
Gold to GBP — Common Amounts
| Amount | Value (GBP) |
|---|---|
| 1 g Gold | 97.11 GBP |
| 5 g Gold | 485.57 GBP |
| 10 g Gold | 971.14 GBP |
| 20 g Gold | 1,942.29 GBP |
| 50 g Gold | 4,855.72 GBP |
| 100 g Gold | 9,711.45 GBP |
| 1 oz Gold | 3,020.60 GBP |
| 5 oz Gold | 15,102.99 GBP |
| 10 oz Gold | 30,205.98 GBP |
About Gold as an Asset
Gold is a widely recognized store of value, held by central banks, investors, and individuals across every continent. Unlike fiat currencies, its supply cannot be expanded by a central bank — its scarcity and durability have made it a store of value and a basis for money throughout recorded history. Today, gold functions simultaneously as a financial asset, a safe-haven holding, and an industrial material.
💡 Gold barely corrodes and is widely recycled, so gold mined centuries ago can still be in use today — in jewellery, bars, coins, electronics and central bank vaults.
What Drives Gold Prices
- US Dollar strength — gold is priced in USD; a weaker dollar makes gold cheaper for foreign buyers
- Real interest rates — higher rates raise the opportunity cost of holding non-yielding gold
- Central bank buying and selling — official reserve managers hold large amounts of gold
- Geopolitical risk — wars, sanctions, and political uncertainty drive safe-haven demand
- Inflation expectations — gold is widely used as a long-term inflation hedge
- ETF flows — gold-backed exchange-traded funds buy and sell physical metal as investors move in and out
Editorial content last reviewed: 2026-10-22
Gold & GBP — Local Context
London is a centre of the global over-the-counter gold market, and the London benchmark gold price is used as a reference in many contracts worldwide. The UK's long history in bullion trading and vaulting makes the GBP gold price closely watched.