Gold Warning: You are not logged in. Your IP address will be publicly visible if you make any edits. If you log in or create an account, your edits will be attributed to your username, along with other benefits.Anti-spam check. Do not fill this in! === Price === {{further|Gold as an investment}} [[File:Gold price in USD.png|thumb|upright=1.35|Gold price history in 1960β2020.]] Like other precious metals, gold is measured by [[troy weight]] and by grams. The proportion of gold in the alloy is measured by ''[[fineness#karat|karat]]'' (k), with 24 karat (24k) being pure gold (100%), and lower karat numbers proportionally less (18k = 75%). The purity of a [[gold bar]] or coin can also be expressed as a decimal figure ranging from 0 to 1, known as the [[fineness#millesimal_fineness|millesimal fineness]], such as 0.995 being nearly pure. The price of gold is determined through trading in the gold and [[derivative (finance)|derivatives]] markets, but a procedure known as the [[Gold Fixing]] in [[London]], originating in September 1919, provides a daily benchmark price to the industry. The afternoon fixing was introduced in 1968 to provide a price when US markets are open.<ref>{{cite book |last1=Warwick-Ching |first1=Tony |url=https://books.google.com/books?id=GrQQxVrtJ3sC&pg=PA26 |page=26 |title=The International Gold Trade |isbn=978-1-85573-072-4 |date=28 February 1993|publisher=Woodhead }}</ref> {{as of|2017|September|}}, gold was valued at around $42 per gram ($1,300 per troy ounce). Summary: Please note that all contributions to Christianpedia may be edited, altered, or removed by other contributors. If you do not want your writing to be edited mercilessly, then do not submit it here. You are also promising us that you wrote this yourself, or copied it from a public domain or similar free resource (see Christianpedia:Copyrights for details). Do not submit copyrighted work without permission! Cancel Editing help (opens in new window) Discuss this page