Gold rate today in Bogotá

What gold costs in Bogotá today

Converted at today's rates, pure 24k gold costs about 421,398 COP per gram in Bogotá, and 22k about 386,295 COP. Per 10 grams, a common size for small bars and rate boards, that is about 4,213,979 COP for 24k. These are spot-based figures, before any tax, premium or making charge.

Selling gold to the central bank in Bogotá

Banco de la República, Colombia's central bank, buys domestically produced gold at its Central de Efectivo in Bogotá, one of only three places in the country where it buys. It takes gold only in its natural state, free of mercury, cyanide or acid treatment, and does not accept melted metal or jewellery scrap.

The bank publishes a daily buy and sell price per gram in pesos, based on the LBMA benchmarks. Traders selling to it need a valid RUCOM registration and may sell up to 2,000 gross grams a day.

What moves the gold price in Bogotá

The Colombian peso gold price is simply the dollar price of gold multiplied by the exchange rate. Today that means about $4,042.7 per ounce times 3,242.13 COP per dollar. The peso gold price is the dollar price times the TRM, the reference rate the Superintendencia Financiera certifies each day.

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 Bogotá

The shelf price in Bogotá is higher than the converted figure above. A shop adds IVA where it applies (standard rate 19%), making charges and the jeweller's margin. On jewellery a making charge comes on top, so two pieces of the same weight and purity can carry very different prices. We found no official karat or hallmark rule for jewellery in Colombia, so ask for the purity on the receipt.

Gold market hours in Bogotá

The international gold market trades almost around the clock on weekdays. In Bogotá the London–New York overlap, usually the busiest and most volatile part of the day, runs today from about 08:00–12:00 local time. The two LBMA Gold Price auctions in London, at 10:30 and 15:00 London time, fall at 05:30 and 10:00 in Bogotá, and major US data released at 08:30 New York time, such as payrolls and inflation, lands at 08:30 local time. The week's trading closes at 17:00 on Friday and reopens at 18:00 on Sunday, Bogotá time; over the weekend the price on this page is the last close. Banco de la República publishes a daily buy and sell price per gram of gold in pesos, based on the LBMA benchmarks. Our gold market hours tool shows the sessions in any time zone.

Bogotá compared with New York

Shoppers often ask how New York stacks up. On the converted spot price neither city is cheaper: New York quotes about 129.98 USD per gram of 24k, which is the same $129.98 per gram as Bogotá's 421,398 COP. What differs is what each market adds. In Bogotá that is IVA where it applies (standard rate 19%), making charges and the jeweller's margin; in New York it is the dealer's premium over spot, state or local sales tax where it applies (the rules differ by state) and, on jewellery, the retailer's markup. Buying abroad also means paying an exchange margin and checking the customs allowance at home.

How this COP gold price is calculated

Three numbers decide everything on this page. First, the international gold price in US dollars per troy ounce: $4,042.7 at the last update. Second, the exchange rate: 1 USD = 3,242.13 COP. Third, the weight: one troy ounce is 31.1035 grams, and one tola is 11.6638 grams.

1. Price per gram in USD = $4,042.7 ÷ 31.1035 = $129.98.
2. Price per gram in COP = $129.98 × 3,242.13 = 421,398 COP (24k, pure gold).
3. Price per 10 grams = 421,398 × 10 = 4,213,979 COP.
4. For a lower purity, multiply by the fineness: 22k = 0.9167, 21k = 0.875, 18k = 0.75.

The gold price is the spot price of gold (XAUUSD) from a public real-time feed, refreshed every few seconds while the page is open; the 7-day table and the 30-session chart use COMEX gold futures closes, which usually sit a few dollars above spot. 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 Bogotá, but they are not the price you will pay or receive at a shop. The shop price adds some or all of these on top:

• Import duty or customs charges, where gold or jewellery is imported.
• Sales tax or VAT, where the country charges one. Many countries tax jewellery but not investment bars; the sections above say what applies here.
• 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