ZAforexLive gold chart (XAU/USD)
Gold trades almost 24 hours a day, five days a week. The chart shows the live spot price in US dollars per ounce.
Gold price per gram in South Africa by carat
Jewellery is rarely pure gold. The table converts today's spot price into a per-gram value for common purities. Jewellers and buy-back shops pay less than this (they deduct refining costs and a margin) and sell for more.
How the gold price works
Gold is quoted in US dollars per troy ounce (31.1035 grams). The "spot" price is for immediate delivery in the global over-the-counter market centred on London; the LBMA sets twice-daily benchmark auctions. Because gold is priced in dollars, the rand gold price rises when either gold goes up or the rand weakens. That is why South African gold miners such as Gold Fields, Harmony and DRDGold often rally when the rand falls.
What moves gold today
- Real interest rates. Gold pays no interest, so it tends to fall when inflation-adjusted US yields rise and rally when they fall. Every FOMC decision matters.
- The US dollar. A weaker dollar usually lifts gold.
- Fear and geopolitics. Wars, banking stress and market sell-offs push investors into gold as a safe haven.
- Central-bank buying. Central banks have been large net buyers of gold in recent years, adding steady demand.
- US data. NFP and CPI releases often trigger the biggest intraday moves.
Ways to own or trade gold in South Africa
| Option | How it works | Things to check |
|---|---|---|
| Krugerrands and bullion bars | Physical coins or bars from dealers, banks or the Rand Refinery network | Premium over spot, storage, VAT treatment (Krugerrands are zero-rated for VAT) |
| Gold ETFs on the JSE | Exchange-traded funds backed by physical gold, bought through any share account | Total expense ratio, tracking |
| Gold mining shares | Shares in miners; more volatile than gold itself | Costs, production, rand moves |
| XAU/USD CFDs | Leveraged trading on the price with a forex broker | High risk; see XAUUSD guide |
Frequently asked questions
What is the gold price today in South Africa?
The live price per ounce and per gram in rand is shown at the top of this page. It combines the global spot price in dollars with the current USD/ZAR rate.
How much is 1 gram of gold in rand?
Divide the rand price per ounce by 31.1035. The page does this for you and also shows 22ct, 18ct and 9ct values.
Why is gold priced in dollars?
The global gold market settles in US dollars, so prices in rand move with both gold and the USD/ZAR rate.
What time does the gold market open?
Spot gold trades from about 00:00 SAST on Monday (Sunday night) to about 23:00 SAST on Friday, with a short daily break.