Australia · AUD · July 2024
Gold Price in Australia — July 2024
In July 2024, the gold price in Australia closed at approximately A$3,938 per troy ounce, equivalent to A$1,477 per tola or A$127 per gram. This represents a +2.20% change on the month (A$3,853 open → A$3,938 close).
Open
A$3,853
per troy ounce
Close
A$3,938
per troy ounce
High
A$3,991
per troy ounce
Low
A$3,755
per troy ounce
All unit prices at July 2024 close — Australia
| Unit | Weight | Closing AUD price |
|---|---|---|
| Troy ounce | 31.1035 g | A$3,938 |
| Gram | 1.0000 g | A$127 |
| 10 grams | 10 g | A$1,266 |
| Kilogram | 1,000 g | A$126,620 |
| Tola | 11.664 g | A$1,477 |
Karat-purity breakdown at July 2024 close
| Karat | Per gram | Per tola |
|---|---|---|
| 24KAUSTRALIA STD | A$126 | A$1,475 |
| 22K | A$116 | A$1,353 |
| 21K | A$111 | A$1,292 |
| 18K | A$95 | A$1,108 |
| 14K | A$74 | A$864 |
| 10K | A$53 | A$616 |
Daily gold price in AUD — July 2024
July 2024 gold market: Fresh records on reviving rate-cut hopes
BullishSofter inflation and rate-cut hopes drove fresh records.
Gold pushed to new record highs toward $2,480 in late July 2024 as a softer US inflation print revived expectations that the Fed would soon cut rates. A weaker dollar and safe-haven demand amid US political uncertainty added to the momentum.
What drove gold in July 2024
- softer US June CPI
- reviving Fed rate-cut bets
- weaker dollar
- US political uncertainty
Key events in July 2024
- Jul 17Gold sets a record near $2,480 on rate-cut optimism
What happened next
Momentum carried gold to its first close above $2,500 in August.
For gold buyers in Australia
July confirmed the dips were for buying — each cooler inflation print sent gold to new highs.
The 2024 gold market: Above $2,500 — breakout to new highs
2024 saw gold break decisively above $2,000 and reach $2,790 by year-end. Central-bank buying continued at record pace. Geopolitical tensions (Middle East, Ukraine) and Fed rate cuts beginning in September drove the rally. Year close: $2,624.
Key drivers in 2024
Fed cuts begin, central-bank buying records, BRICS expansion, Middle East tensions, USD weakness
2024 XAU/USD high
$2,790 (Oct)
2024 XAU/USD low
$1,991 (Feb)
Era context — The modern bull market (2019 to today)
Gold's second major bull market of the 21st century. Driven by COVID stimulus, Russia sanctions, central-bank accumulation at record levels, and the structural shift toward a multi-polar reserve system. New all-time highs reached repeatedly since 2020.
The Australia gold market
Australia retail gold prices are quoted in the local currency per gram for 24K and 22K purities, and per troy ounce for investment-grade bullion. Local rates usually sit above the international XAU/USD spot price after import duties, sales taxes, and jewellery making charges are applied. Use this archive as the international reference price; final retail rates depend on your dealer and the date's exchange rate.
Standard quote unit
gram
Common purity
24K
Currency
AUD (A$)
Daily gold price — July 2024, Australia
A$3,853
$2,398.20/oz
A$3,755
$2,336.89/oz
A$3,800
$2,365.00/oz
A$3,796
$2,362.60/oz
A$3,845
$2,392.97/oz
A$3,842
$2,391.13/oz
A$3,842
$2,391.13/oz
A$3,811
$2,371.63/oz
A$3,835
$2,386.73/oz
A$3,896
$2,424.60/oz
A$3,886
$2,418.31/oz
A$3,920
$2,439.86/oz
A$3,920
$2,439.86/oz
A$3,969
$2,470.08/oz
A$3,991
$2,483.74/oz
A$3,977
$2,475.00/oz
A$3,923
$2,441.39/oz
A$3,876
$2,412.26/oz
A$3,876
$2,412.26/oz
A$3,876
$2,412.08/oz
A$3,908
$2,432.07/oz
A$3,857
$2,400.15/oz
A$3,842
$2,390.84/oz
A$3,862
$2,403.27/oz
A$3,861
$2,402.61/oz
A$3,877
$2,412.94/oz
A$3,938
$2,451.01/oz
How Australia gold prices are calculated on this page
Source. The international XAU/USD spot price comes from gold-api.com's historical archive (London PM-fix benchmark). The AUD/USD exchange rate comes from exchangerate-api.com's 2024 year-end snapshot.
Conversion. Every AUD figure on this page is computed as XAU/USD price × AUD/USD rate. We use the year-end exchange rate consistently across all July 2024 prices on this page.
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).
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 Australia, add the country-specific levies described in the “Australiagold market” section above.
FAQ — Australia gold price in July 2024
What was the gold price in Australia in July 2024?
In July 2024, gold in Australia opened at A$3,853/oz and closed at A$3,938/oz — a move of +2.20% on the month. Per tola: ≈A$1,477; per gram: ≈A$127; per 10g: ≈A$1,266.
What was the 24K gold rate per tola in Australia in July 2024?
The 24K gold rate per tola in Australia at the July 2024 close was approximately A$1,477, derived from international XAU/USD spot of $2,451.01/oz times the 2024-end AUD/USD exchange rate of 1.6068. This is pure metal value; final retail rates include local taxes and dealer making charges.
What was the 24K gold rate per gram in Australia in July 2024?
Australia's most-quoted retail standard is 24K per gram. At the July 2024 close, that worked out to approximately A$126 (24K pure-metal value). Add local taxes and making charges for the final retail rate.
How was the local currency price calculated?
AUD prices on this page are computed from the verified international XAU/USD spot price for July 2024 (sourced from gold-api.com), multiplied by the 2024-end AUD/USD exchange rate from exchangerate-api.com. We use year-end rates as a single reference point for the entire month — for most stable currencies the within-year FX drift is small, but during currency crises (PKR 2022–23, TRY 2022, ARS 2024 etc.) the actual mid-month rate may differ.
Why does the retail price in shops differ from this number?
The A$ figures here represent the international gold spot price converted to AUD at the 2024-end exchange rate. Australia's retail jewellers add (1) import duties and sales tax (varies by SKU and karat), (2) dealer making charges (typically 3–12% of metal value), and (3) a small premium for purity certification on bars. Always verify the exact day's retail rate with a reputable local dealer before transacting.
Want today's rate in Australia? See live gold prices in Australia with minute-by-minute updates and per-karat breakdowns.
Different month or year? Use the prev / next buttons above, or jump to the full 2024 archive or the USD-only July 2024 page with the country-by-country list at the bottom.
Other markets? Compare July 2024 prices across other major gold-trading countries: New Zealand, Singapore, Japan, China, United Kingdom, United States.
Disclaimer: Historical gold prices on this page reflect the international XAU/USD spot price for the requested period, converted to AUD at the 2024-end 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 Australia before transacting.