The spot price of Gold is the market price at which one ounce of Gold can be bought and sold for instant delivery. The Gold spot price is constantly changing, making it crucial to remain updated on performance indicators such as market conditions and current events because they greatly affect the buying and selling of Gold.
 
The Gold price is always quoted in troy ounces but can be converted into any quantity a person wants to buy or sell. Gold spot prices are universal, as most Gold markets use live Gold prices listed in U.S. dollars, so the price of Gold per ounce is the same worldwide.