Gold Price Today in UK

What Influences Gold Prices in the UK?

Gold prices in the United Kingdom are affected by global gold market trends, but also by UK-specific factors such as the strength of the British Pound, Bank of England policies, Brexit developments, and domestic economic indicators. Gold is often seen as a safe-haven investment during times of economic uncertainty in the UK.

Gold Measurement Units in the UK

In the United Kingdom, gold is typically measured in:

• Troy Ounce: The standard unit for gold trading (1 troy oz = 31.1035 grams)
• Grams: Used for smaller quantities and jewelry
• Sovereign: A traditional British gold coin (= 7.322 grams)
• Carat: Used to measure gold purity, not to be confused with karat

Most gold price reporting in the UK uses the price per troy ounce in British Pounds.

Gold Purity Standards in UK Markets

Gold in the UK is typically categorized by these purity levels:

• 24 Carat (999.9 fine): 99.9% pure gold, primarily for investment
• 22 Carat (916.7 fine): 91.67% pure, traditional standard for wedding rings
• 18 Carat (750 fine): 75% pure, common for high-quality jewelry
• 14 Carat (585 fine): 58.5% pure, durable option for everyday jewelry
• 9 Carat (375 fine): 37.5% pure, popular in UK for affordable jewelry

The UK has a strong hallmarking tradition, with all gold items weighing over 1 gram requiring hallmarking by one of the UK's four Assay Offices.