Gold rate today in Warsaw

Warsaw gold rate at a glance

At the last update, one gram of 24k gold in Warsaw works out to about 508.71 PLN, and a gram of 22k to about 466.33 PLN. Per 10 grams, a common size for small bars and rate boards, that is about 5,087.05 PLN for 24k. These are spot-based figures, before any tax, premium or making charge.

Warsaw's assay offices

Poland checks the purity of gold through state assay offices. Warsaw has two of them at the same address, ul. Elektoralna 2: the Regional Assay Office in Warsaw and the Assay Office of Warsaw.

The regional office oversees the city offices in its part of the country, while the Warsaw office tests and marks articles brought in by jewellers and importers.

What moves the gold price in Warsaw

Two numbers set the gold price in Warsaw: the international price in US dollars, about $4,042.7 per ounce at the last update, and the USD/PLN exchange rate, now 3.9138. The zloty floats and tends to weaken when investors avoid emerging markets, which is also when gold is in demand, so the zloty gold price can rise faster than the dollar 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 Warsaw

The shelf price in Warsaw is higher than the converted figure above. A shop adds 23% VAT on jewellery (investment gold is VAT-exempt), the dealer's premium 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. Hallmarking is compulsory for gold items of 1 gram or more, and the official list of gold standards is 999, 960, 750, 585, 500 and 375.

Gold market hours in Warsaw

The international gold market trades almost around the clock on weekdays. In Warsaw 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 Warsaw, 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, Warsaw time; over the weekend the price on this page is the last close. Investment gold is VAT-exempt and, if held for more than six months, free of income tax when sold. Our gold market hours tool shows the sessions in any time zone.

Warsaw 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 Warsaw's 508.71 PLN. What differs is what each market adds. In Warsaw that is 23% VAT on jewellery (investment gold is VAT-exempt), the dealer's premium and the jeweller'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 PLN 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 = 3.9138 PLN. 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 PLN = $129.98 × 3.9138 = 508.71 PLN (24k, pure gold).
3. Price per 10 grams = 508.71 × 10 = 5,087.05 PLN.
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 Warsaw, 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