Gold rate today in Pretoria

Gold rate in Pretoria today

At the last update, one gram of 24k gold in Pretoria works out to about 2,132 ZAR, and a gram of 22k to about 1,955 ZAR. Per 10 grams, a common size for small bars and rate boards, that is about 21,324 ZAR for 24k. These are spot-based figures, before any tax, premium or making charge.

The South African Mint in Centurion

The South African Mint is at Old Johannesburg Road, Gateway, in Centurion, part of the City of Tshwane with Pretoria. It is a wholly owned subsidiary of the South African Reserve Bank.

Its flagship bullion coin is the Krugerrand, which the Mint calls the world's first and most widely traded bullion coin. So the coin that many South Africans buy as gold is made in Tshwane.

What moves the gold price in Pretoria

Two numbers set the gold price in Pretoria: the international price in US dollars, about $4,042.7 per ounce at the last update, and the USD/ZAR exchange rate, now 16.406. The rand is one of the most traded emerging-market currencies and often weakens when global investors turn cautious, which is also when gold tends to be in demand. The two effects can stack, so the rand gold price sometimes jumps 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 Pretoria

The shelf price in Pretoria is higher than the converted figure above. A shop adds 15% VAT on jewellery and bars (Krugerrands are zero-rated), a dealer premium on coins and the jeweller's margin. On jewellery, making charges are built into the price of jewellery, so two pieces of the same weight and purity can carry very different prices. We found no compulsory hallmarking rule for South African jewellery, so check the karat stamp; the Krugerrand is South Africa's own gold bullion coin, made by the South African Mint with Rand Refinery.

Gold market hours in Pretoria

The international gold market trades almost around the clock on weekdays. In Pretoria the London–New York overlap, usually the busiest and most volatile part of the day, runs today from about 15:00–19:00 local time. The two LBMA Gold Price auctions in London, at 10:30 and 15:00 London time, fall at 12:30 and 17:00 in Pretoria, and major US data released at 08:30 New York time, such as payrolls and inflation, lands at 15:30 local time. The week's trading closes at 00:00 on Saturday and reopens at 01:00 on Monday, Pretoria time; over the weekend the price on this page is the last close. Precious metals are regulated by the South African Diamond and Precious Metals Regulator under the Precious Metals Act of 2005. Our gold market hours tool shows the sessions in any time zone.

Pretoria compared with Johannesburg

Pretoria and Johannesburg both price gold in ZAR off the same international price and the same exchange rate, so the converted figure is identical: about 2,132 ZAR 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 ZAR 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 = 16.406 ZAR. 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 ZAR = $129.98 × 16.406 = 2,132 ZAR (24k, pure gold).
3. Price per 10 grams = 2,132 × 10 = 21,324 ZAR.
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 Pretoria, 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