Commodity
Gold
Gold spot price in U.S. dollars, useful for reading defensive demand and real-rate pressure.
At a glance
Gold: latest value and prior change
As of 2026-07-22, Gold is 4,155 USD/oz. It is 102.8 USD/oz higher than 4,052 USD/oz on 2026-07-21.
Across 638 available observations from 2024-01-02 to 2026-07-22, the latest value is at the tie-adjusted 78th percentile.
- Observed on
- Default comparison window
- 2024-01-02–2026-07-22
- Observations · observed cadence
- 638 · Daily
- Data source
- LBMA
A high or low percentile does not by itself make the indicator positive, negative, or a buy or sell signal.
Time-series chart
Gold
2024-01-02–2026-07-22
Long-history series are stored as real provider observations. Index, FX, VIX, and ratio charts use historical backfill where providers expose it; Korean investor flow and margin-credit feeds expand as stable historical endpoints become available.
Interpretation guide
Reading gold spot through real rates and the dollar
This series tracks the spot price of gold in U.S. dollars per troy ounce. Because gold pays no interest, it is highly sensitive to U.S. real yields and the dollar, with central-bank buying and crisis-driven safe-haven demand layered on top.
The three forces behind the price
Gold competes with interest-bearing assets, so rising inflation-adjusted yields raise the cost of holding it. Falling real rates, a softer dollar, geopolitical stress, and reserve diversification by emerging-market central banks work in the opposite direction.
- When the US 10-year yield climbs faster than inflation expectations, gold rallies tend to lose momentum.
- If gold holds firm while real rates rise, look for a different buyer, such as official-sector or crisis demand.
- Gold and the dollar rising together usually signals systemic hedging rather than a simple inflation trade.
Judge combinations, not levels
Gold has no natural valuation band, so the mix of signals matters more than the absolute price. Line this series up with the US Treasury 10Y, US CPI, VIX, and gold-silver ratio series on TapeFlow before drawing conclusions.
- Gold up alongside a VIX spike and falling equities reads as a flight to safety and a cue to review risk exposure.
- Gold up while the gold-silver ratio falls points to broad precious-metal strength rather than pure defense.
- Gold stalling near record highs without follow-through deserves a check for exhausted catalysts.
The won-denominated blind spot
Korean investors experience gold through the won-converted price, which is the dollar price multiplied by USD/KRW. A flat dollar gold price can still produce gains in KRX gold-market quotes or local gold ETFs when the won weakens, so the two drivers should be separated.
- Always pair this series with TapeFlow's USD/KRW series when evaluating gold returns in won terms.
- If currency moves explain most of the gain, recognize the position was effectively a dollar bet, not a gold bet.
- Treat gold as a long-horizon purchasing-power hedge rather than a short-term inflation trade when sizing it.
Related views
Related indicators and radar
Gold-Silver Ratio
Compares defensive gold demand with more cyclical silver demand.
Checks whether gold strength is defensive relative to silver.
VIX Index
The U.S. equity volatility gauge for global risk aversion.
Pairs safety demand with volatility pressure.
USD/KRW
A key FX gauge for won weakness and foreign-flow pressure.
Adds dollar and FX context to gold.