UK Gold Price Per Gram: Live Rates by Carat and Scrap Prices
The UK gold price per gram is currently about £103 for 24K gold, £95 for 22K, £77 for 18K and £39 for 9K, based on the live international spot price converted to pounds, and a scrap buyer will typically pay you only a percentage of those figures, because they cover refining costs and their own margin.
Gold is priced in US dollars worldwide, so the UK price moves with the dollar gold price and the pound-dollar exchange rate, then changes again once a dealer adds a premium, VAT on non-investment items, or a scrap discount.
Because the rate shifts several times a day, treat every figure here as a reference point and check a live quote before you buy or sell.
This guide gives you the current UK gold price per gram by carat, explains how it is calculated, shows what scrap gold buyers really pay, compares the best places to buy gold in the UK, answers the common questions on VAT and reporting limits, and explains how buying certified gold from Africa really compares.
Live Gold Spot Prices per Gram by Carat (Purity)
| Carat | Fineness | Price per Gram | Price for 10 Grams | Price per Troy Ounce |
|---|---|---|---|---|
| 24K | 999 | £103.20 | £1,032 | £3,210 |
| 22K | 916 | £94.63 | £946 | £2,943 |
| 18K | 750 | £77.48 | £775 | £2,410 |
| 14K | 585 | £60.43 | £604 | £1,880 |
| 10K | 417 | £43.08 | £431 | £1,340 |
| 9K | 375 | £38.74 | £387 | £1,205 |
These are raw melt values: the gold content of each carat at the current international spot price, converted at an approximate USD/GBP rate. Retail prices, dealer premiums, VAT on jewellery and scrap discounts all change what you actually pay or receive, and both the gold price and the exchange rate move during the day.
The carat tells you how much of an item is pure gold: 24K is almost pure, 22K is about 91.6% gold, 18K is 75%, 14K is 58.5%, 10K is about 41.7% and 9K is 37.5%. The rest is other metals such as copper and silver, which add strength. For more on how 18K is valued, see our guide to the price of 18K gold.
How Is the UK Gold Price Per Gram Calculated?
- Start with the spot price, quoted in US dollars per troy ounce on international markets.
- Convert to pounds using the current USD/GBP exchange rate.
- Divide by 31.1035, the number of grams in a troy ounce, to get the price per gram of pure gold.
- Multiply by the purity: 0.999 for 24K, 0.916 for 22K, 0.75 for 18K, 0.585 for 14K and 0.375 for 9K.
- Add or subtract the dealer’s margin: a premium when you buy, a discount when you sell.
A weaker pound raises the UK price even if the dollar gold price is unchanged, and a stronger pound lowers it. For a shorter walkthrough with a calculator, see our guide to the gold price per gram today in the UK.
1 Gram and 10 Grams of Gold in the UK
At the current spot price:
| Weight | 24K | 22K | 18K |
|---|---|---|---|
| 1 gram | £103.20 | £94.63 | £77.48 |
| 10 grams | £1,032 | £946 | £775 |
These are melt values. If you are buying a small gold bar, the premium is much higher on a 1 gram bar (roughly 8 to 10%) than on a 10 gram bar (roughly 6 to 7%), and larger bars are lower still. See our guides to pure gold bars for sale in the UK and the 1 oz gold bar price for premiums by size.
Today’s Gold Rate in the UK: Why It Keeps Changing
Gold trades almost around the clock, so the UK rate can change many times in a day. The main drivers are:
- Global economic conditions. Uncertainty and geopolitical tension tend to push investors toward gold as a safe-haven asset, raising demand and price.
- Currency exchange rates. Gold is priced in dollars, so the pound-dollar rate matters.
- Inflation and interest rates. Gold is often held as an inflation hedge, and higher interest rates can reduce its appeal because gold pays no income.
- Supply and demand. Mining output, recycling, jewellery demand and central bank buying all play a part.
Scrap & Sell Prices (What Buyers Pay)
Scrap gold means old or unwanted gold, such as broken jewellery, odd earrings or unwanted chains, that is sold to be melted and refined. A scrap buyer will not pay you the full melt value. They have to test the gold, refine it, cover their costs and make a profit, so offers are a percentage of melt value, and that percentage varies widely between buyers, with higher percentages generally going with larger quantities, higher carats and specialist refiners.
The table below shows the full melt value of each carat per gram, and two illustrative payout levels so you can see how much the buyer’s percentage matters:
| Carat | Melt Value per Gram | If a Buyer Pays 80% | If a Buyer Pays 90% |
|---|---|---|---|
| 24K | £103.20 | £82.56 | £92.88 |
| 22K | £94.63 | £75.70 | £85.16 |
| 18K | £77.48 | £61.98 | £69.73 |
| 14K | £60.43 | £48.35 | £54.39 |
| 10K | £43.08 | £34.46 | £38.77 |
| 9K | £38.74 | £30.99 | £34.87 |
These are illustrations, not quotes. Actual offers depend on the buyer, the weight, the carat and the market on the day, and may be lower or higher.
How to Get the Best Price for Scrap Gold
- Identify the carat. Look for a hallmark such as 375, 585, 750 or 916, and confirm it with a test if you are unsure.
- Weigh each item in grams on an accurate scale, and weigh gold separately from stones and other materials, since only the gold counts.
- Work out the melt value using the table above, so you know what the gold is worth before you hear an offer.
- Compare several offers, asking each buyer what percentage of melt value they pay and whether there are fees.
- Ask how the weighing and testing are done, and whether you can watch.
- Understand the payout and paperwork, including any fees, how you will be paid, and what identification is needed.
- Do not accept an offer you cannot explain. A buyer who will not tell you the percentage or the weight is a reason to walk away.
Best Places to Buy Gold in the UK
| Where | Strengths | Trade-offs |
|---|---|---|
| High street and Hatton Garden shops | Personal service, you can inspect the gold | Often higher premiums, and VAT on jewellery |
| Banks | Trust and security | Limited selection and typically higher prices; retail bullion sales are uncommon |
| Online bullion dealers (such as BullionByPost and Atkinsons) | Competitive pricing, wide range, home delivery | You must trust the seller’s reputation and wait for delivery |
| The Royal Mint | A government-backed mint with coins and storage | Premiums on coins can be higher than on bars |
| Licensed international exporters | Often lower premiums on larger bars | Import documentation and checks needed |
See our guides to buying gold bars and coins online in the UK, buying gold coins online and buying gold in the UK.
Is It Better to Buy Gold Bars or Coins in the UK?
Gold bars generally have lower premiums per gram, which makes them the more cost-effective choice for larger, long-term investments, but they are less convenient to sell in small portions.
Gold coins such as Sovereigns and Britannias carry slightly higher premiums per gram but are more liquid, easy to sell in parts and widely recognised. UK legal tender coins also have a tax advantage: they are exempt from Capital Gains Tax for UK residents, regardless of the gain.
Both investment bars and qualifying coins are VAT-exempt. See our guide to taxes on physical gold for how the rules work.
What Is the VAT on Gold in the UK?
Investment gold, meaning bars and coins that meet HMRC’s purity and form criteria, is exempt from VAT under the Investment Gold Scheme. Gold jewellery and other non-investment items are subject to standard VAT, currently 20%. Confirm the treatment of any specific item with the dealer or HMRC before a large purchase.
How Much Gold Can You Buy in the UK Without Reporting?
There is no legal limit on how much gold you can buy in the UK. What exists are anti-money-laundering (AML) rules for the dealers:
- Dealers accepting large cash payments (broadly, the equivalent of about €10,000 or more) must register with HMRC as high value dealers and carry out customer due diligence, including checking identity and the source of funds.
- All dealers must report suspicion. A dealer who suspects money laundering must file a Suspicious Activity Report.
- Many dealers set their own, stricter rules, such as asking for identification on lower-value purchases or limiting cash.
- Bank transfer and debit card payments leave a clear record, so they usually involve fewer awkward questions, but they are not a way of avoiding checks.
Do not split a purchase into smaller payments to stay under a threshold. Deliberately structuring payments to avoid anti-money-laundering checks is itself suspicious, can be treated as an offence, and will be reported by any compliant dealer. Always be open about who you are and where your money comes from, and keep invoices and records.
UK Gold Price vs. Gold From Africa: What the Real Difference Is
You may see claims that gold bought in Africa is dramatically cheaper than in the UK, sometimes by 20 to 40 percent. That is not true. Gold is priced on global markets in dollars, so the raw gold price is the same everywhere, and a seller offering gold at a price far below spot is showing the classic sign of a scam, not a bargain. Read our guide to why cheap African gold offers can be dangerous.
What can differ is the premium over spot. A licensed exporter buying and shipping larger bars may quote a premium of roughly 1 to 3 percent, whereas small bars and many retail sellers charge more.
The saving, where there is one, is therefore a matter of a few percentage points on larger bars, not a halving of the price, and it only matters if the gold is genuine and the paperwork is real. Compare:
| Typical UK Retail | Licensed African Exporter | |
|---|---|---|
| Gold price | Spot price | Spot price |
| Premium on larger bars | Often a few percent | Roughly 1 to 3 percent |
| Premium on small bars | Higher, up to roughly 8 to 10% on 1 gram | Higher, up to roughly 8 to 10% on 1 gram |
| Delivery and paperwork | Often simple | Export and import documents required |
Buy Gold Bars Africa is a licensed exporter supplying certified gold bars, 1 oz gold bars and 1 kg gold bars from Uganda, the DR Congo, Kenya, Tanzania and South Africa, each with an independent assay certificate, certificate of origin and export documentation. See our comparison of African gold prices vs. Dubai gold prices and our guide to buying gold bars at the lowest price.
How to Import Gold Legally From Africa to the UK
Importing gold into the UK is straightforward when every document is in order. In practice you need:
- An export permit and certificate of origin from the source country
- An independent assay certificate confirming purity and weight
- A commercial invoice stating the declared value
- A customs declaration under HMRC’s import rules, with the gold correctly classified
- Insured, tracked transport with a specialist carrier
- Confirmation of the VAT treatment: qualifying investment gold is exempt, while other gold may not be
A licensed exporter should supply the African-side paperwork, and you or your customs agent handle the UK declaration. See our guides to the legal requirements to buy gold bars from Africa and how to buy gold bars from Africa safely, and see where to buy gold in Africa.
How to Check If Your Gold Is Real
- Check the hallmark and any certificate, remembering both can be faked.
- Use a magnet. Real gold is not magnetic, but many fakes are not either, so it can only rule an item out.
- Weigh and measure the item and compare it with its stated specification.
- Use professional testing such as XRF analysis, and request an assay report for large purchases.
- Buy from reputable, verifiable dealers.
See our guides to gold authentication and how to spot fake gold.
How to Store Gold Safely in the UK
Store gold somewhere secure and insured: a bank safe deposit box, a private vault, or a heavy home safe bolted to the floor. Make sure your home insurance covers the value, and keep records of serial numbers, certificates and invoices. For large holdings, a professional vault is usually the better choice.
Is Gold a Good Investment in the UK?
Gold is widely held as a store of value and a hedge against inflation, currency weakness and economic uncertainty, and many investors use it to diversify a portfolio.
It also pays no income, its price can fall as well as rise, and premiums and fees reduce returns, especially on small purchases. Whether it suits you depends on your goals and time horizon, so consider independent financial advice. This is general information, not investment advice.
Frequently Asked Questions: UK Gold Price Per Gram
What is the gold price per gram in the UK today? About £103 for 24K, £95 for 22K, £77 for 18K and £39 for 9K at the current spot price, before any premium or discount. Check a live quote before buying or selling.
What is the 22K gold price per gram in the UK? Roughly £95 at the current spot price.
How much is 10 grams of gold worth in the UK? About £1,032 for 24K and £946 for 22K, as melt value.
What does a scrap gold buyer pay per gram? Only a percentage of melt value, often well below the full figure. For example, at 80% a buyer would pay about £62 per gram for 18K gold with a melt value of about £77.
Why is scrap gold worth less than the gold price? Because the buyer must test, melt and refine it, cover costs and make a profit, so they pay a share of the melt value.
How do I calculate the gold price per gram? Take the spot price per ounce in pounds, divide by 31.1035, then multiply by the purity of the gold.
Is gold VAT-free in the UK? Investment gold meeting HMRC’s criteria is exempt from VAT. Jewellery and other non-investment gold are subject to 20% VAT.
Which UK gold coins are exempt from Capital Gains Tax? UK legal tender coins such as Sovereigns and Britannias are exempt from CGT for UK residents.
How much gold can I buy without reporting? There is no limit on buying gold, but dealers must carry out due diligence on large cash payments and report suspicion. Do not split payments to avoid checks.
Is gold cheaper in Africa? No. The raw gold price is global. A licensed exporter may offer a lower premium on larger bars, but a price far below spot is a scam warning.
Where is the best place to buy gold in the UK? It depends on what you need: shops for personal service, online dealers for pricing and range, and the Royal Mint for coins. Compare premiums and verify the seller.
Is it better to buy gold bars or coins? Bars have lower premiums per gram; coins are easier to sell in parts, and UK legal tender coins are CGT-exempt.
How do I store gold safely? In an insured bank deposit box, private vault or bolted home safe, with records of serial numbers and certificates.
Get a Live Quote for Certified Gold
Prices move every day. For a quote benchmarked to today’s spot price, contact Buy Gold Bars Africa Ltd, message us on WhatsApp at +256 707 585144, or read about our company.
Related Pages
- Gold Price Per Gram Today in the UK
- Buy Gold in the UK
- Buy Gold Bars and Coins Online in the UK
- Pure Gold Bars for Sale in the UK
- Price of 18K Gold
- Taxes on Physical Gold
- Gold Authentication
- More gold guides
Prices are indicative reference values based on the international spot price and an approximate exchange rate, not a live feed or a binding offer; confirm the current rate before any transaction. Scrap payout percentages are illustrations. Tax and AML rules change, so confirm them with HMRC or a qualified adviser. Educational content, not tax or investment advice.
