Gold rate today in Porto

Porto gold rate at a glance

Converted at today's rates, pure 24k gold costs about 116.00 EUR per gram in Porto, and 22k about 106.33 EUR. Per 10 grams, a common size for small bars and rate boards, that is about 1,159.97 EUR for 24k. These are spot-based figures, before any tax, premium or making charge.

Porto's assay office

Porto has one of Portugal's two assay offices, the Contrastaria do Porto. The other is in Lisbon, and both are listed for Portugal under the international Hallmarking Convention.

Jewellers in the north of Portugal can send gold to be tested and hallmarked in Porto itself instead of shipping it to the capital.

What moves the gold price in Porto

The euro gold price is simply the dollar price of gold multiplied by the exchange rate. Today that means about $4,042.7 per ounce times 0.8924 EUR per dollar. The euro is the second most traded currency in the world, and EUR/USD moves of half a percent in a day are routine. When the euro rises against the dollar, the euro gold price lags the dollar price; when it falls, the euro price outruns it.

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 Porto

The shelf price in Porto is higher than the converted figure above. A shop adds VAT on jewellery (investment gold is VAT-exempt across the EU), the dealer's premium on bars and coins and the jeweller's margin. 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. Investment bars and coins must meet the EU's 995 and 900 fineness tests to be VAT-free; Germany lets jewellery be sold at any fineness as long as the mark is accurate.

Gold market hours in Porto

The international gold market trades almost around the clock on weekdays. In Porto the London–New York overlap, usually the busiest and most volatile part of the day, runs today from about 13:00–17:00 local time. The two LBMA Gold Price auctions in London, at 10:30 and 15:00 London time, fall at 10:30 and 15:00 in Porto, and major US data released at 08:30 New York time, such as payrolls and inflation, lands at 13:30 local time. The week's trading closes at 22:00 on Friday and reopens at 23:00 on Sunday, Porto time; over the weekend the price on this page is the last close. EU rules exempt investment gold from VAT in every member state, which is why bars and coins are priced close to spot while jewellery carries the local VAT rate. Our gold market hours tool shows the sessions in any time zone.

Porto compared with Lisbon

Porto and Lisbon both price gold in EUR off the same international price and the same exchange rate, so the converted figure is identical: about 116.00 EUR 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 EUR 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 = 0.8924 EUR. 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 EUR = $129.98 × 0.8924 = 116.00 EUR (24k, pure gold).
3. Price per 10 grams = 116.00 × 10 = 1,159.97 EUR.
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 Porto, 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