Gold rate today in Los Angeles (USD)

What gold costs in Los Angeles today

Converted at today's rates, pure 24k gold costs about 128.86 USD per gram in Los Angeles, and 22k about 118.12 USD. Per 10 grams, a common size for small bars and rate boards, that is about 1,288.57 USD for 24k. These are spot-based figures, before any tax, premium or making charge. Los Angeles opens three hours after New York, so by the time local shops open the most active part of the gold day is usually already under way.

What moves the gold price in Los Angeles

Two things decide the price of gold in most cities: the international price in US dollars and the local exchange rate. In Los Angeles only the first matters, because the international price already is a dollar price. Today it stands at about $4,007.9 per troy ounce. Gold is priced internationally in US dollars, so there is no exchange rate to convert: the price on this page is the COMEX price itself. That also means the dollar's own strength matters in a different way, since a stronger dollar tends to weigh on the gold price for everyone else and can cool global demand.

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 Los Angeles

The shelf price in Los Angeles is higher than the converted figure above. A shop adds the dealer's premium over spot, state or local sales tax where it applies (many states exempt investment bullion) and, on jewellery, the retailer's markup. On jewellery, making charges are built into the price of jewellery, which is often marked up well above its gold content, so two pieces of the same weight and purity can carry very different prices. Most US jewellery is 14k, with 10k and 18k also common; coins such as the American Eagle are 22k and the Buffalo is 24k.

Where gold is bought in Los Angeles

The Downtown Los Angeles Jewelry District around Hill Street, Broadway and 6th Street is one of the largest in the country, and coin dealers across the region sell bullion. When comparing shops, ask for the gold rate per gram, the purity, the making charge and the buy-back price separately; that is the only way to see which offer is really cheaper.

Buying seasons in Los Angeles

Christmas, Valentine's Day, Lunar New Year and Diwali are busy, along with the wedding season. Across the United States, demand is strongest around Christmas, Valentine's Day, Mother's Day and the wedding season. Seasonal demand tends to show up in shop premiums, promotions and queues rather than in the international price, which is set by global flows. Knowing the calendar helps explain why a local quote can look expensive or cheap against this page in a given week.

Gold market hours in Los Angeles

The international gold market trades almost around the clock on weekdays. In Los Angeles the London–New York overlap, usually the busiest and most volatile part of the day, runs today from about 05:00–09:00 local time. The two LBMA Gold Price auctions in London, at 10:30 and 15:00 London time, fall at 02:30 and 07:00 in Los Angeles, and major US data released at 08:30 New York time, such as payrolls and inflation, lands at 05:30 local time. The week's trading closes at 14:00 on Friday and reopens at 15:00 on Sunday, Los Angeles time; over the weekend the price on this page is the last close. COMEX gold futures, operated by CME Group, are the most traded gold contract in the world and the source of the price on this page. Our gold market hours tool shows the sessions in any time zone.

Los Angeles compared with New York

Los Angeles and New York both price gold in USD off the same international price and the same exchange rate, so the converted figure is identical: about 128.86 USD 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 gold price is calculated

In the United States no currency conversion is needed. Two numbers decide everything on this page: the international gold price, $4,007.9 per troy ounce at the last update, and the weight: one troy ounce is 31.1035 grams.

1. Price per gram = $4,007.9 ÷ 31.1035 = $128.86 (24k, pure gold).
2. Price per 10 grams = $128.86 × 10 = $1,288.57.
3. For a lower purity, multiply by the fineness: 22k = 0.9167, 18k = 0.750, 14k = 0.585.

The price comes from COMEX gold futures, which track spot XAUUSD closely but are not identical to it. 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 Los Angeles, but they are not the price you will pay or receive at a shop. The retail or "jeweller" price adds some or all of these on top:

• Import duty or customs charges, where the country imports most of its gold.
• Sales tax, GST or VAT, which may apply to jewellery, to bars and coins, or to both, depending on local law.
• 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