Gold rate today in Budapest

Budapest gold rate at a glance

The international price puts a gram of 24k gold in Budapest at roughly 42,036 HUF today, with 22k at about 38,534 HUF. Per 10 grams, a common size for small bars and rate boards, that is about 420,359 HUF for 24k. These are spot-based figures, before any tax, premium or making charge.

Hallmarks and coins in Budapest

Hungary's only assay office is in Budapest: the precious-metal hallmarking department of the Budapest Capital Government Office, at Bláthy Ottó utca 3-5 in the VIII district. It tests and hallmarks gold, silver, platinum and palladium articles for the whole country.

Budapest is also home to the Hungarian Mint (Magyar Pénzverő), which is 100% owned by the Magyar Nemzeti Bank. Its head office is at Európa utca 1, and it has a coin shop at Báthory utca 7.

What moves the gold price in Budapest

Everything on a Budapest rate board starts from the same place: the dollar price of gold (about $4,042.7 an ounce today) converted at the USD/HUF rate of 323.41. The forint gold price is the dollar price converted at the USD/HUF rate, which the Magyar Nemzeti Bank publishes every day; the forint's moves often add to or cancel out gold's own move.

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 Budapest

The shelf price in Budapest is higher than the converted figure above. A shop adds 27% standard VAT on jewellery (investment gold is VAT-exempt) and the dealer's margin. On jewellery a making charge comes on top, so two pieces of the same weight and purity can carry very different prices. Hallmarking is compulsory for gold items of 1 g or more, and the listed legal gold finenesses are 916, 750, 585 and 375.

Gold market hours in Budapest

The international gold market trades almost around the clock on weekdays. In Budapest 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 Budapest, 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, Budapest time; over the weekend the price on this page is the last close. We found no local gold exchange; licensed dealers price from the international price. Our gold market hours tool shows the sessions in any time zone.

Budapest compared with Prague

It is natural to compare Prague with the price at home. On the converted spot price neither city is cheaper: Prague quotes about 2,824 CZK per gram of 24k, which is the same $129.98 per gram as Budapest's 42,036 HUF. What differs is what each market adds. In Budapest that is 27% standard VAT on jewellery (investment gold is VAT-exempt) and the dealer's margin; in Prague it is 21% VAT on jewellery (investment gold is VAT-exempt) and the seller's margin. Buying abroad also means paying an exchange margin and checking the customs allowance at home.

How this HUF 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 = 323.41 HUF. 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 HUF = $129.98 × 323.41 = 42,036 HUF (24k, pure gold).
3. Price per 10 grams = 42,036 × 10 = 420,359 HUF.
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 Budapest, 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