Gold Price per Ounce UK in GBP Sterling
|Week Change||£-6.95 (-0.46 %)|
Gold Price Per Ounce
View the gold price per ounce in Pounds Sterling via our fast loading chart. The price of gold per ounce chart shows the price for the last week. If you would like to see the gold prices per ounce live or in any other time frame simply click the text options above to tailor your chart.
What is a Troy Ounce of gold?
The troy ounce (T/Oz) is a unit of imperial measure. Gold is commonly measured in troy ounces which are used to weight and price precious metals such as gold, silver, and platinum. The troy weights system originated in the French city of Troyes and was the basis for the Medieval British coinage system introduced by Henry II.
A troy ounce contains 31.1035 grams of 24 carat pure gold and there are approximately 32.15 troy ounces in a kilogram.
The gold troy ounce is one of the most commonly purchased unit sizes of gold. As well as being a highly flexible size, it is very easy to track the performance of your gold against the global market price of gold which is displayed in troy ounces (T/Oz). As well as being highly flexible and easy to track, troy ounce units of gold are very easy to store due to their relatively small physical size.
Investors looking to buy troy ounce units of gold have the option to buy 1oz bars or 1oz coins. Gold bullion bars are pure 24ct gold with a fineness of 999.9 and at BullionByPost we have a wide range available.
Alternatively, investors can buy 22ct or 24ct coins, depending on their budget. 24ct gold coins such as Canadian Maples and Britannias (2013 onwards) are pure gold with a fineness of 999.9, just like bullion bars.
22 carat gold coins, such as 1oz Krugerrands and the pre-2013 1oz Gold Britannias, contain another alloy other than gold (typically copper) to make them harder-wearing than pure 24ct gold coins. These coins still contain exactly one troy ounce or 31.1035 grams of pure gold but weigh slightly more to account for the additional alloy metal.