Gold rate today in Sydney (AUD)

Today's gold price in Sydney

Converted at today's rates, pure 24k gold costs about 183.35 AUD per gram in Sydney, and 22k 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. Sydney's trading day starts before London's, so local shops often price off the overnight New York close until London opens in the evening.

What moves the gold price in Sydney

The Australian dollar gold price is simply the dollar price of gold multiplied by the exchange rate. Today that means about $4,007.9 per ounce times 1.4229 AUD per dollar. 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 Sydney

The shelf price in Sydney 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 Sydney

Jewellers in the Strand Arcade, Pitt Street and the CBD, bullion dealers selling bars and coins, and 22k jewellers in Harris Park and Parramatta are the main options. 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 Sydney

Christmas, Lunar New Year, Diwali and the wedding season are the busiest times. 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 Sydney

The international gold market trades almost around the clock on weekdays. In Sydney the London–New York overlap, usually the busiest and most volatile part of the day, runs today from about 23:00–03:00 local time. The two LBMA Gold Price auctions in London, at 10:30 and 15:00 London time, fall at 20:30 and 01:00 in Sydney, and major US data released at 08:30 New York time, such as payrolls and inflation, lands at 23:30 local time. The week's trading closes at 08:00 on Saturday and reopens at 10:00 on Monday, Sydney 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.

Sydney compared with Singapore

Shoppers often ask how Singapore stacks up. On the converted spot price neither city is cheaper: Singapore quotes about 164.70 SGD per gram of 24k, which is the same $128.86 per gram as Sydney's 183.35 AUD. What differs is what each market adds. In Sydney that is 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; in Singapore it is GST on jewellery (investment-grade bars and coins have been exempt from GST since 2012), workmanship charges and the dealer's margin. Buying abroad also means paying an exchange margin and checking the customs allowance at home.

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 Sydney, 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