How much does 1 kilogram of gold cost today: official exchange rate in rubles and USD

The price of a precious metal is determined by its function

The answer to this question depends, first of all, on the purposes for which you are interested in this. It should immediately be noted that this precious metal performs several functions in today’s market economy:

• Raw materials for industry
• Jewelry
• Measured gold bars for savings
• Metal bank accounts
• Collectible gold coins
• Exchange-traded financial instruments (futures and options contracts, etc.)

Pricing in each of these cases has its own specifics. Prices are influenced by market mechanisms - the balance of supply and demand, the cost of mining and processing of precious metals, stock exchange quotes, etc.

Where can you buy or sell gold

You can buy gold:

• On the MICEX. On the Moscow Exchange you can buy compulsory medical insurance or futures contracts for precious metals. This is a convenient and affordable way to trade precious metals.
• Coins\bars in banks. There are two types of gold coins - investment and collectible. Bullion can only be purchased from large banks. This is gold of the highest standard, available in bars from 1 gram to 1 kg. The greater the weight of the bar, the cheaper each gram of gold in it is. Precious bullion is subject to VAT at the rate of 18% of the total value.
• Compulsory medical insurance (impersonal metal account). An account is created in the selected bank, which contains grams of gold. According to the law, when opening an impersonal account, VAT is not paid.
• Mutual Fund\ETF. Investment funds whose only asset (other than money) can be shares of an index ETF. The average management fee is 0.3–5% of the average annual net asset value.

Price today

The main price reference point in determining the price of a precious metal for a specific date is the exchange quotation of the precious metal in US dollars. The stock quote is currently $1,188.70/troy ounce (November 2016). The Central Bank exchange rate is 64.62 rubles/$ and a troy ounce is almost 31.1 grams. That is, the stock price for gold in rubles is 2,469.80 rubles/gram at the moment.

Again, depending on the purpose of using the precious metal, the quotation can be set only for today, for a certain period of time or for a specific contract.

We are probably most often asked the question “What is the price of a kilogram of gold?” when it is related to the purpose of saving or conservative investment.

The most convenient ways to save in gold is to buy bullion at a bank or open a metal bank account.

Let's take a closer look at these two options. Let's try to figure out how much 1 gram of this precious metal costs, and then we will get the price of 1 kg of gold by multiplying the price of 1 gram by a thousand.

How much is 1 kg of gold worth today?

Today's gold rate in Russia in rubles per kilogram:

The official price of gold at Sberbank is set daily on weekdays and is published only on the bank’s official website. It is influenced by the discount price of the Central Bank of Russia, as well as stock exchange quotes, and roughly corresponds to the quote presented here.

The price of a one-kilogram bar in dollars is presented below:

Convenient investments

For our “savings purposes”, the exact price of a gram of 999 fine precious metal is set daily by the Central Bank of the Russian Federation and publishes it on its official website. For example, the price of gold today at the Central Bank exchange rate is 2,466.91 rubles/gram (November 2016). But the official price of the Central Bank is not used directly during purchase; it is the basis for calculating gold prices in credit and other organizations.

Note that the cost of the precious metal in an ingot is higher than exchange quotes, due to 18% VAT and the added value of the manufacturer and seller. That is, the real cost of 1 gram of bullion will be significantly higher. How much a gold bar costs depends on its weight; only standard measured bars are sold in banks. The main thing in a bank bullion is the purity of the precious metal content and compliance with the standard. For an ingot with a fineness of 999, the standard content of precious metal is 999 grams in one kilogram of the alloy.

The most economical investment option would be to open a metal account at a bank. In this case, there is no need to pay VAT, because the investment does not have a physical form; there is no need to remove an expensive safe deposit box to store bullion. In addition, it is a very liquid investment that has the same market value and can be easily converted into cash. The rate for Sberbank gold metal accounts today is purchase 2,324.74 rubles/gram, sale – 2,759.26 rubles/gram.

Online chart of the gold rate per 1 gram of 999 fines in rubles

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How much is a kilogram?

So, how much is a kilogram of gold worth today? Based on the above exchange rate data, we get that 1 kilogram of gold in a metal account today costs 2,759,260 rubles. And how much one specific measured gold bar costs today, you can only find out at a bank branch.

The average price of gold on the stock exchange in 2021 was $1,200/troy ounce, and time will tell how much it will cost next year. The price of gold per 1 gram or the price of 1 troy ounce is very variable and is influenced by a huge number of factors.

Quotes are strongly influenced by the economic and political situation in the world, the presence of stock market speculation, currency fluctuations, and the accumulation of risks in the economy. Every year we witness how gold quotes can change by 5-10% per day. Any exchange-traded assets have very sharp price jumps in one direction or another. Sharp crashes and sharp rises in prices often occur on stock exchanges, and 2021 has once again demonstrated this to all of us. Suffice it to recall Brexit and the US elections. Any investment in exchange-traded assets requires caution and diligence. Therefore, in order to get a good profit from investing in gold, you need to at least study the current market situation.

How much could you earn in a year, 2, 5 and 10 years?

Investing in precious metals is one of the most stable instruments. At the same time, the price of gold never stands still. The cost at one moment can increase by 10-15% or, on the contrary, become cheaper. It is best to invest in precious metal for the long term. It’s worth forgetting about your investment portfolio for 5-10 years. In this case, its profitability will be really high.

For example, if you bought a kilogram bar a year ago and sold it today, your income would be 196,000 rubles.

But in two years you would have lost 202,000 (in 2021 the rate was higher).

For 5 years: +1,278,000 rubles (then the price was almost 2 times lower).

For 10: +1,895,000 rubles.

You must understand that there is a big difference between the buying and selling price. This difference is called the spread. It varies between 4-15%.

Don't invest in jewelry. The pawn shop will buy them back only at the price of scrap.

Price 18 tons of gold

Do you want to know how much 18 tons of gold costs today, October 8, 2021? We invite you to familiarize yourself with the current cost of 18 tons of gold depending on its purity: the price for 18 tons of gold is 375, 500, 583, 585, 750, 916, 958 and 999 samples.

Over the year, gold fell in price by -15.51%

Dynamics of changes in the cost of 18 tons of gold in rubles

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