GOLD & SILVER MARKET

Illustration of gold and silver bullion bars on a dark stone surface

Illustrative gold and silver imagery, not a photograph of products offered for sale.

Understanding the precious metals market

Learn how gold and silver are quoted, what the spot price means, and how to compare market reference prices with physical bullion.

Gold and silver price snapshots in GBP

Selected dated prices in pounds sterling per troy ounce. These are not annual averages, a continuous price history, live prices or a forecast. Bars are approximate and use different scales for each metal. The 2026 figure is a dated snapshot, not a full-year result.

Gold — GBP per troy ounce

31 Oct 2023  ███████████           £1,632.87
31 Oct 2024  ██████████████        £2,127.76
29 Oct 2026  ████████████████████  £3,027.31

Silver — GBP per troy ounce

31 Oct 2023  █████████             £18.811
31 Oct 2024  █████████████         £25.328
29 Oct 2026  ████████████████████  £39.71

Important: 2023 and 2024 figures are historical prices from Bullion Rates. The 2026 figures are The Royal Mint’s displayed Buy quotes at 08:03:42 GMT on 29 October 2026. Different providers and quote conventions mean these figures are not strictly like-for-like and should not be used to calculate investment returns. They are not REALIST GLOBAL purchase or sale quotes. This chart does not update automatically.

Sources: 2023 gold, 2023 silver, 2024 gold, 2024 silver, and The Royal Mint price charts, 2026 snapshot.

What is the spot price?

The spot market relates to metal for immediate delivery under market settlement conventions. Gold and silver are generally quoted in US dollars per troy ounce. A price shown in pounds sterling also depends on the currency conversion used.

Troy ounces and grams

Precious metals are measured in troy ounces rather than ordinary ounces. One troy ounce is approximately 31.1035 grams. When comparing prices, check that the metal, currency and weight unit are the same.

Why bullion prices can differ

The market reference price is not necessarily the price of an individual coin or bar. Bar size, purity, delivery location and settlement date can result in a premium or discount to the reference price. Always check the listed price and product specifications before purchasing.

Daily benchmarks versus live prices

The LBMA Gold Price is set twice daily, while the LBMA Silver Price is set once daily. These benchmarks are different from continuously updating market quotes.

Understanding price information

When using a market chart, check its data source, last-update time, currency, weight unit and whether its quotes are live or delayed. This page does not currently display a live price feed.

Market information is provided for general information only, not as personal investment advice or a binding purchase or sale quote. Historical price movements do not guarantee future results.

Account