When checking today’s gold price quoted by the Hong Kong Gold Exchange, you first need to clarify which product you are viewing. The exchange offers different gold contracts with distinct quotation units. By contrast, the posted prices at gold shops are generally for retail jewellery or investment gold products. The two sets of prices include different costs and serve different trading scenarios, so their figures do not have to match.
It is very common for users searching for “today’s gold price” to see several different gold quotes at the same time. One price for international spot gold, another from the Hong Kong Gold Exchange, and a third at gold retail shops. Once you distinguish what each quote represents, you will not get confused by these prices.
What price is quoted on the Hong Kong Gold Exchange?
The Hong Kong Gold Exchange provides a variety of gold and silver products. Its electronic trading system includes instruments such as London Gold. London Gold is commonly quoted in US dollars per troy ounce, and the 100-ounce contract is a standard specification. Electronic trading on the Hong Kong Gold Exchange currently runs for an extended 23-hour trading session.
If you want to track international gold price movements, these quotes follow the standard pricing convention of the global precious metals market. A quote such as “$4300 per ounce” refers to the US dollar price per troy ounce. This cannot be directly compared with shop board prices labelled in RMB or HKD per gram.
What extra costs are built into gold shop prices?
Gold shops sell tangible retail goods. Gold jewellery usually incorporates fabrication costs, brand premiums, store operating expenses and sales service charges. Even though the gold content of an intricately crafted gold piece links to the raw gold price of the day, its final selling price will not simply equal the international raw gold price.
Investment gold bars are usually closer to raw material prices, yet they may still carry brand premiums, manufacturing fees and bid-ask spreads. This explains the frequent question: “Why have gold shop prices not fallen proportionally even when international gold prices dropped?” The answer lies in the different products and pricing structures.
How to convert USD per ounce into price per gram
To get a rough RMB-per-gram equivalent for international gold prices, standardise the units first. 1 troy ounce ≈ 31.1034768 grams. Calculation formula: International Gold Price (USD/oz) × USD/CNY Exchange Rate ÷ 31.1034768
The output serves only as a theoretical reference for the RMB per gram price. It excludes retail craftsmanship fees, distribution costs and product-specific premiums. This converted figure is suitable for market observation only and cannot be used to demand gold shops to sell at that rate.
Which “today’s gold price” should you follow?
If tracking international gold market trends: follow London Gold or other global gold market quotes. If buying physical gold bars: check the real-time purchase and buyback terms published by the corresponding seller. If purchasing gold jewellery: refer to the brand’s retail price and craftsmanship fees for the day. If trading London Gold: use the live bid and ask prices shown on your trading terminal. Though all labelled “gold price”, they serve completely different purposes.
How Lucky Gold users check quotes
The London Gold contract at Lucky Gold has a contract size of 100 ounces per lot, denominated in US dollars. The quotes displayed on users’ trading terminals are for London Gold transactions.
When also viewing domestic gold prices quoted per gram or jewellery shop board rates, unify the currency, unit and product type before calculating the price gap. Directly comparing raw figures of “USD per ounce” and “CNY per gram” easily leads to wrong judgements.
Why gold prices keep changing within the same day
International gold trading spans major market sessions worldwide. As Asian, European and American markets open sequentially, new orders, economic data, interest rate expectations and risk events drive price shifts. There is no single fixed “today’s gold price” that stays unchanged all day. Any price printed in articles reflects the level around the time of publication. For trading decisions, always refer to live terminal quotes.
Risk Warning: Different gold products adopt different quotation units, trading mechanisms and fee structures. Historical or converted prices are for market understanding only. Actual trading shall be executed at the prevailing executable price.