Gold rate today in Perth (AUD)

What gold costs in Perth today

At the last update, one gram of 24k gold in Perth works out to about 183.35 AUD, and a gram of 22k to about 168.08 AUD. Per 10 grams, a common size for small bars and rate boards, that is about 1,833.49 AUD for 24k. These are spot-based figures, before any tax, premium or making charge. Western Australia produces most of Australia's gold, from the Kalgoorlie goldfields and beyond, and the Perth Mint, founded in 1899, refines much of it.

What moves the gold price in Perth

Two numbers set the gold price in Perth: the international price in US dollars, about $4,007.9 per ounce at the last update, and the USD/AUD exchange rate, now 1.4229. The Australian dollar is closely tied to commodity prices and to demand from Asia. It often rises with gold, which can dampen moves in the Australian-dollar gold price, but when it falls the local price can rise even on a flat day for gold.

The dollar price itself responds to US interest-rate expectations, the strength of the dollar, inflation data, central-bank buying and geopolitical risk. Our guide to what moves gold prices covers each in turn.

Premiums, making charges and tax in Perth

The shelf price in Perth is higher than the converted figure above. A shop adds 10% GST on jewellery (investment-grade gold of 99.5% purity or more is GST-free), the dealer's premium and the retailer's markup. On jewellery, making charges are built into the retail price of jewellery, so two pieces of the same weight and purity can carry very different prices. Jewellery is mostly 9ct, 14ct and 18ct; investment bars and coins are 9999 fine.

Where gold is bought in Perth

The Perth Mint sells coins and bars to the public from its historic building on Hay Street, and jewellers across the CBD and suburbs sell jewellery. When comparing shops, ask for the gold rate per gram, the purity, the making charge and the buy-back price separately; that is the only way to see which offer is really cheaper.

Buying seasons in Perth

Christmas and the wedding season are the busiest periods. Across Australia, demand is strongest around Christmas, Valentine's Day, the wedding season, Diwali and Lunar New Year. Seasonal demand tends to show up in shop premiums, promotions and queues rather than in the international price, which is set by global flows. Knowing the calendar helps explain why a local quote can look expensive or cheap against this page in a given week.

Gold market hours in Perth

The international gold market trades almost around the clock on weekdays. In Perth the London–New York overlap, usually the busiest and most volatile part of the day, runs today from about 20:00–00:00 local time. The two LBMA Gold Price auctions in London, at 10:30 and 15:00 London time, fall at 17:30 and 22:00 in Perth, and major US data released at 08:30 New York time, such as payrolls and inflation, lands at 20:30 local time. The week's trading closes at 05:00 on Saturday and reopens at 07:00 on Monday, Perth time; over the weekend the price on this page is the last close. Australia is one of the largest gold producers in the world, and gold-backed products trade on the Australian Securities Exchange. Our gold market hours tool shows the sessions in any time zone.

Perth compared with Sydney

Perth and Sydney both price gold in AUD off the same international price and the same exchange rate, so the converted figure is identical: about 183.35 AUD per gram of 24k in both. Any difference at the counter comes from making charges, dealer premiums and how hard the shops compete.

How this AUD gold price is calculated

Three numbers decide everything on this page. First, the international gold price in US dollars per troy ounce: $4,007.9 at the last update. Second, the exchange rate: 1 USD = 1.4229 AUD. Third, the weight: one troy ounce is 31.1035 grams, and one tola is 11.6638 grams.

1. Price per gram in USD = $4,007.9 ÷ 31.1035 = $128.86.
2. Price per gram in AUD = $128.86 × 1.4229 = 183.35 AUD (24k, pure gold).
3. Price per 10 grams = 183.35 × 10 = 1,833.49 AUD.
4. For a lower purity, multiply by the fineness: 22k = 0.9167, 21k = 0.875, 18k = 0.750.

The gold price comes from COMEX gold futures, which track spot XAUUSD closely but are not identical to it. The exchange rate is a mid-market rate; the rate your bank or money changer gives you will be slightly different. If you want to do the maths yourself, our guide to converting the gold price per gram, tola and kilo walks through every step with worked examples.

What this price does not include

The figures above are the international spot price converted into local currency. They are the starting point for every retail price in Perth, but they are not the price you will pay or receive at a shop. The retail or "jeweller" price adds some or all of these on top:

• Import duty or customs charges, where the country imports most of its gold.
• Sales tax, GST or VAT, which may apply to jewellery, to bars and coins, or to both, depending on local law.
• Dealer premium: the margin a bullion dealer or bank adds to the spot price for bars and coins, usually larger on small pieces.
• Making charges (labour) on jewellery, often a percentage of the gold value or a fixed amount per gram.
• Local supply and demand, which can push the physical price to a premium or a discount against the international price for weeks at a time.

When you sell, the buyer usually quotes below the spot-based number and deducts for purity testing, wear and sometimes stones. The gap between the buying and the selling price is the real cost of owning physical gold, and it varies a lot between shops, so it is worth asking several.

Frequently asked questions