United Kingdom · GBP · Saturday, May 31, 2014
Gold Price in United Kingdom — May 31, 2014
On May 31, 2014, gold in United Kingdom closed at approximately £746 per troy ounce — about £280 per tola or £24 per gram. The figure is computed from the verified international XAU/USD spot price ($1,250.50/oz) × the day's GBP/USD exchange rate.
GBP / Troy Ounce
£746
31.1035 g
GBP / Gram
£24
1 g
GBP / Tola
£280
11.664 g
All unit prices on May 31, 2014 — United Kingdom
| Unit | Weight | GBP price |
|---|---|---|
| Troy ounce | 31.1035 g | £746 |
| Gram | 1.0000 g | £24 |
| 10 grams | 10 g | £240 |
| Kilogram | 1,000 g | £23,978 |
| Tola | 11.664 g | £280 |
Karat-purity breakdown — May 31, 2014
| Karat | Per gram | Per 10g | Per tola |
|---|---|---|---|
| 24K | £24 | £240 | £279 |
| 22K | £22 | £220 | £256 |
| 21K | £21 | £210 | £245 |
| 18K | £18 | £180 | £210 |
| 14K | £14 | £140 | £164 |
| 10K | £10 | £100 | £117 |
The United Kingdom gold market
The UK retail gold market quotes per gram, with 9K being the historically dominant jewellery standard alongside 18K and 22K. Investment-grade gold (bars and coins, ≥99.5% purity) is VAT-exempt under the EU Gold Directive (preserved post-Brexit). Sovereigns and Britannia coins issued by The Royal Mint also enjoy capital-gains-tax exemption for UK residents.
Standard quote unit
gram
Common purity
9K
Currency
GBP (£)
May 31 in other years — United Kingdom
May 31, 2014 gold price in other countries
How this May 31, 2014 United Kingdom price is calculated
International benchmark. The XAU/USD spot price for May 31, 2014 comes from gold-api.com's historical archive — the London PM-fix benchmark, which is the reference used by central banks and bullion dealers globally. On this date, that price was $1,250.50/oz.
Currency conversion. The GBP/USD exchange rate for the same date comes from exchangerate-api.com. We apply that day's exact rate (0.5964) to the USD price — not a year-average or month-end approximation. This makes the £ figure on this page accurate to the trading session.
Per-unit math. Per-gram = per-ounce ÷ 31.1035. Per-tola = per-gram × 11.664. Per-10g = per-gram × 10. Per-kilo = per-gram × 1000. Karat values multiply per-gram by the purity ratio (24K = 0.999, 22K = 0.916, 21K = 0.875, 18K = 0.750, 14K = 0.585, 10K = 0.417). We never compound rounding errors by going through intermediate units.
What this page does NOT include. Local sales tax / VAT, customs duty on imports, dealer making charges, jewellery design premiums, or coin numismatic premiums. To go from this pure-metal value to a final retail rate in United Kingdom, add the country-specific levies described in the “United Kingdom gold market” section above. The retail rate at a jeweller in United Kingdom on May 31, 2014 would have been a few percent above this number once those costs are included.
FAQ — United Kingdom gold price on May 31, 2014
What was the gold price in United Kingdom on May 31, 2014?
On May 31, 2014 (Saturday), gold in United Kingdom traded at approximately £746 per troy ounce. That works out to about £24 per gram, £280 per tola, and £240 per 10 grams. The figure is derived from international XAU/USD spot of $1,250.50/oz × the day's GBP/USD exchange rate of 0.5964.
What was the 24K gold rate per tola in United Kingdom on May 31, 2014?
The 24K gold rate per tola in United Kingdom on May 31, 2014 was approximately £279 (99.9% pure metal value). This excludes local taxes, dealer making charges and any country-specific levies — those add on top to produce the final retail rate.
What was the 9K gold rate in United Kingdom on May 31, 2014?
United Kingdom's most-quoted retail standard is 9K per gram. On May 31, 2014, that pure-metal value was approximately £14. Add country-specific taxes and making charges (see the market-context section above) for the final retail rate.
How accurate is this number versus what jewellers were quoting?
The £ figure on this page is the verified international XAU/USD spot price for May 31, 2014 multiplied by the day's exchange rate. It represents the pure metal value at international parity — what a London-fix benchmark would have implied. Local jewellers add (1) import duties + sales tax / VAT, (2) dealer making charges (typically 3–12% of metal value), and (3) any premium for purity certification. Final retail rates in United Kingdom typically sit a few percent above this number.
Was May 31, 2014 a trading day?
May 31, 2014 fell on a Saturday; the international gold market may have been closed (weekend or holiday). The price shown on this page reflects the most recent close carried forward.
Want today's rate in United Kingdom? See live gold prices in United Kingdom with minute-by-minute updates and full karat breakdowns. To compare this archive figure against the live rate, that's where to go.
Different unit on this same date? The USD-only daily archive for May 31, 2014 includes per-day prices in 100+ other currencies and is the canonical reference page for this date.
Browse the archive. Step through every day of May 2014 in United Kingdom, see the full 2014 archive, or use our tola, gram and karat calculators for live calculations against today's rate.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested date, converted to GBP at the same day's exchange rate. They are intended for informational and educational use only and do not constitute investment advice or a price quote for buying or selling physical gold today. Always verify current local rates with a reputable bullion dealer in United Kingdom before transacting.