Gold rate today in Copenhagen

What gold costs in Copenhagen today

At the last update, one gram of 24k gold in Copenhagen works out to about 867.74 DKK, and a gram of 22k to about 795.46 DKK. Per 10 grams, a common size for small bars and rate boards, that is about 8,677.41 DKK for 24k. These are spot-based figures, before any tax, premium or making charge.

Denmark's gold in Copenhagen

Danmarks Nationalbank holds 66.5 tonnes of gold, and since 2002 about 2.5% of it has been stored in Copenhagen. Almost all the rest, about 97%, is at the Bank of England in London, with 0.5% at the Federal Reserve Bank of New York.

The Danish assay office, Ædelmetalkontrollen, is in Brøndby in Greater Copenhagen, at Park Allé 345. Control marking is voluntary in Denmark, so ask the seller what a piece's fineness stamp means.

What moves the gold price in Copenhagen

Two numbers set the gold price in Copenhagen: the international price in US dollars, about $4,042.7 per ounce at the last update, and the USD/DKK exchange rate, now 6.6762. The krone is pegged to the euro at a central rate of 746.038 kroner per 100 euro within a ±2.25% band, so the krone gold price moves almost exactly like the euro gold price.

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 Copenhagen

The shelf price in Copenhagen is higher than the converted figure above. A shop adds 25% VAT on jewellery (investment gold is VAT-exempt) and the seller's margin. On jewellery a making charge comes on top, so two pieces of the same weight and purity can carry very different prices. Denmark uses registration and inspections with voluntary control marks, and the listed legal gold finenesses run from 999 down to 375.

Gold market hours in Copenhagen

The international gold market trades almost around the clock on weekdays. In Copenhagen the London–New York overlap, usually the busiest and most volatile part of the day, runs today from about 14:00–18:00 local time. The two LBMA Gold Price auctions in London, at 10:30 and 15:00 London time, fall at 11:30 and 16:00 in Copenhagen, and major US data released at 08:30 New York time, such as payrolls and inflation, lands at 14:30 local time. The week's trading closes at 23:00 on Friday and reopens at 00:00 on Monday, Copenhagen time; over the weekend the price on this page is the last close. We found no local gold exchange; prices follow the international price. Our gold market hours tool shows the sessions in any time zone.

Copenhagen compared with Frankfurt

A common question is whether gold is cheaper in Frankfurt. On the converted spot price neither city is cheaper: Frankfurt quotes about 116.00 EUR per gram of 24k, which is the same $129.98 per gram as Copenhagen's 867.74 DKK. What differs is what each market adds. In Copenhagen that is 25% VAT on jewellery (investment gold is VAT-exempt) and the seller's margin; in Frankfurt it is VAT on jewellery (investment gold is VAT-exempt across the EU), the dealer's premium on bars and coins and the jeweller's margin. Buying abroad also means paying an exchange margin and checking the customs allowance at home.

How this DKK 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 = 6.6762 DKK. 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 DKK = $129.98 × 6.6762 = 867.74 DKK (24k, pure gold).
3. Price per 10 grams = 867.74 × 10 = 8,677.41 DKK.
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 Copenhagen, 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