Gold Price Today in USA

What Drives Gold Prices in the USA?

Gold prices in the United States reflect global market conditions but are also influenced by domestic factors such as the strength of the US dollar, Federal Reserve policies, inflation rates, and economic indicators. As the US dollar is the global benchmark for gold trading, there's an inverse relationship between dollar strength and gold prices.

Gold Measurement Units in the USA

In the United States, gold is commonly measured in:

• Troy Ounce: The standard unit for gold trading (1 troy oz = 31.1035 grams)
• Grams: Used for smaller quantities and in scientific contexts
• Pennyweight (dwt): Used in some jewelry contexts (1 dwt = 1.555 grams)

Most financial reporting and market quotes for gold in the USA reference the price per troy ounce.

Gold Purity Standards in American Markets

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

• 24K Gold (99.9% pure): Used primarily for investment (gold bars, coins)
• 22K Gold (91.7% pure): Sometimes used for coins and higher-end jewelry
• 18K Gold (75% pure): Common for fine jewelry and luxury watches
• 14K Gold (58.3% pure): Most popular for everyday American jewelry
• 10K Gold (41.7% pure): Minimum gold content legally marketable as gold in the US