How much does gold cost per ounce?

In January of 2019, that investor may have been able to purchase gold for approximately $1300/ounce, meaning that by September of 2020, those five ounces becoming eight ounces would put his average cost per ounce of gold at $812.50.

How much is gold worth today?

The price of gold has increased approximately 4,750% since 1935 when President Franklin D. Roosevelt raised the value of gold to $35 per ounce. This is compared to today’s gold prices (June 2020) that are hovering around $1,700.

How is gold price determined?

The price is determined by converting the current spot gold price for an ounce or gram of gold into the country"s currency. For example, the current spot gold price for 1 gram of gold would be converted into Indian Rupees according to the current exchange rate.