Data Sources and Methodology

This page explains where Gold Updates price data comes from, how it is calculated and displayed, and how the site handles delays, errors, and the gap between spot prices and local shop prices.

Spot Price Data

The international spot price shown on the site is obtained from a public gold price feed. The feed reports the market price of gold per troy ounce in US dollars, derived from wholesale trading activity. Gold Updates does not set the price itself and does not adjust the feed's figure; the site displays the value it receives, converted into the units and currencies readers select.

Because the feed is a third-party source, the site depends on its availability and accuracy. If the feed is delayed or unavailable, the site shows the most recent value it received and marks it as such, rather than inventing a substitute figure. Readers should always check the timestamp shown alongside a price to see how recent it is.

Currency Conversion Data

Prices in currencies other than the US dollar are calculated using exchange rates from a public exchange-rate feed. The site multiplies the dollar gold price by the current exchange rate for the selected currency to produce the local-currency figure. Exchange rates are updated on a regular schedule, and the converted price therefore moves both when the gold price moves and when the exchange rate moves.

The exchange rate used is a mid-market reference rate. Banks, bureaus, and dealers apply their own spreads when actually exchanging money, so the rate a reader obtains in a real transaction may differ slightly from the rate used in the site's calculations. The converted figures are indicative, not a quote for an actual currency exchange.

Historical Price Data

Historical charts are drawn from a public market-data feed that reports futures market prices for gold. Futures prices track the spot market closely but are not identical to it: they reflect contracts for future delivery and can differ slightly from the spot price at any given moment, particularly around contract expiry dates.

Charts on the site are labelled to make clear what they show, and readers should treat them as a record of market movement over time rather than as a series of spot prices. The distinction rarely matters for understanding long-term trends, but it can matter for precise comparisons on a single day.

Unit and Purity Calculations

All unit conversions use standard factors. One troy ounce equals 31.1035 grams, and one kilogram equals 32.1507 troy ounces. Purity conversions use the standard karat fractions: 24K is pure gold, 22K is about 91.6 percent pure, 21K is 87.5 percent, 18K is 75 percent, and 14K is about 58.3 percent. The calculators apply these factors transparently, so readers can reproduce any result by hand.

Calculators estimate the metal value of the gold content only. They do not include making charges, dealer margins, shipping, insurance, or taxes, and they cannot account for gemstones or non-gold components in a piece of jewellery. A calculator result is therefore a starting point for understanding value, not a valuation of a finished item.

Caching and Stale Data

To keep the site fast and reliable, price data is cached for short periods. This means the price displayed may be seconds or minutes old rather than instantaneous, particularly during periods of heavy traffic. Each price display carries a timestamp so readers can judge its freshness.

If data becomes stale beyond the site's normal refresh window — for example, because a feed is unavailable — the site continues to show the last known value with a clear indication that it is not current, or it withholds the price until fresh data returns. The site never fills a gap with an estimated, interpolated, or previous-day figure presented as current.

Why Local Shop Prices Differ

Even a perfectly accurate spot price will differ from the price charged by a local jeweller. Shops add making charges for craftsmanship, margins to cover rent, staff, security, and stock risk, and taxes and duties that apply in their country. Import and currency costs add further layers in countries that import their gold.

Readers comparing the site's prices with shop prices should therefore expect a gap and should ask shops for a breakdown of gold value, making charges, and taxes. The site's guides on spot prices versus jewellery prices and on local price differences explain each layer in detail.