Gold Price in Pounds Today
Track the live gold price in British pounds per troy ounce and per gram. LBMA London pricing with real-time GBP/USD conversion.
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London: The World's Gold Trading Hub
The gold price in GBP carries special significance because London has been the centre of the global gold market for over three centuries. The LBMA Gold Price is set twice daily and serves as the definitive benchmark worldwide.
- LBMA daily turnover: approximately $30 billion in gold traded
- Price fix at 10:30 AM and 3:00 PM London time
- Gold Sovereigns and Britannias are exempt from Capital Gains Tax (UK legal tender)
- Investment gold is VAT-free in the UK; silver and platinum are subject to 20% VAT
- Royal Mint produces the Gold Britannia (1 oz, .9999 fine) and Gold Sovereign
- London Good Delivery bars: 400 oz meeting strict purity and weight standards
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Frequently Asked Questions
How is the gold price in pounds calculated?
The gold price in pounds is calculated by dividing the international US dollar spot price (XAU/USD) by the current GBP/USD exchange rate. For example, if gold is $2,000/oz and GBP/USD is 1.25, the pound price is 1,600 GBP per ounce. The LBMA also publishes a benchmark price in GBP alongside the USD fix.
Are gold coins tax-free in the UK?
Investment gold is VAT-free in the UK. Additionally, UK legal tender gold coins such as the Gold Sovereign and Gold Britannia are exempt from Capital Gains Tax (CGT). This makes them the most tax-efficient form of gold investment for UK residents. Standard gold bars are VAT-free but are subject to CGT on profits above the annual allowance.
Why does the London gold price matter?
The LBMA Gold Price, set in London, is the most widely used benchmark for gold pricing worldwide. It is used to value gold held by central banks, to settle gold derivatives, and to price gold ETFs. London's deep liquidity pool and centuries-long tradition make it the reference point for the global gold market.
What are the best gold coins to buy in the UK?
The Gold Britannia (1 oz, .9999 fine) and Gold Sovereign (7.32g, .9167 fine) are the most popular choices for UK investors because they are CGT-free as UK legal tender. Other widely traded coins include the South African Krugerrand, Canadian Maple Leaf, and Austrian Philharmonic, though these are subject to CGT.