Gold Price Today in New York City
The gold price in New York City is the US spot price, shown live below per ounce and per gram for the karats sold in Manhattan's jewelry trade. What you pay in a store adds a dealer premium and, for jewelry, New York sales tax.
Live gold rate in New York City (USD)
| Weight & purity | Live price |
|---|---|
| 24K gold · 1 troy ounce | live |
| 24K gold · 1 gram | live |
| 22K gold · 1 gram | live |
| 18K gold · 1 gram | live |
| 14K gold · 1 gram | live |
| 14K gold · 1 pennyweight | live |
| 10K gold · 1 gram | live |
Melt values at spot, before any dealer premium or sales tax. Values are the live international spot price converted at the live exchange rate and scaled by weight and purity. They exclude dealer premiums, local market premiums or discounts, taxes and making charges. How we calculate
New York's place in the gold market
New York is where the US gold price is largely discovered. The COMEX gold futures contract trades on the CME Group's exchange, and its front-month price is what most American dealers follow during the day. The Federal Reserve Bank of New York also holds one of the world's largest stores of monetary gold in its vault beneath Lower Manhattan, mostly on behalf of foreign central banks. None of this gives New Yorkers a lower price: a coin bought on 47th Street starts from the same spot price as one bought online in Ohio.
The Diamond District on West 47th Street
The block of West 47th Street between Fifth and Sixth Avenues is the center of the city's jewelry and precious-metals trade, with hundreds of businesses in street-level booths and the office buildings above them. You will find retail jewelers, wholesale manufacturers, coin and bullion dealers, and buyers of scrap gold side by side. Competition is close, so prices for standard bullion products can be keen, but quality of service and honesty vary between booths.
- Bullion and coins: Gold Eagles, Buffalos, Maple Leafs and branded bars, priced as spot plus a premium that the dealer will usually quote on the spot.
- Jewelry: mostly 14K and 18K, with 22K and 24K pieces sold by jewelers serving South Asian, Middle Eastern and Chinese customers in the city.
- Selling scrap: buyers test and weigh in front of you, often in pennyweights, and offer a percentage of melt value.
Outside Midtown, neighborhoods such as Jackson Heights in Queens and Canal Street in Chinatown have jewelers selling high-karat gold priced closer to weight, the way it is sold in South Asia and China.
Sales tax in New York
New York City's combined sales tax rate is 8.875% (state, city and the regional transportation surcharge), and it applies to jewelry. New York State exempts qualifying investment bullion and coins when the purchase totals more than $1,000; smaller bullion purchases are taxable. Ask the dealer how they are applying the rule to your transaction and get an itemized receipt.
Worked example: bar versus ring
Illustrative numbers only, assuming spot at $4,150.00 per ounce ($133.43 per gram).
| Purchase | Calculation | Amount |
|---|---|---|
| 1 oz bar at 3% over spot | $4,150.00 × 1.03 | $4,274.50 |
| Sales tax on the bar (qualifying, over $1,000) | exempt | $0.00 |
| 6 g 18K ring, tagged | store price | $1,800.00 |
| Sales tax on the ring | 8.875% × $1,800.00 | $159.75 |
| Ring total | $1,959.75 | |
| Gold content of the ring at melt | 6 × $133.43 × 0.75 | $600.44 |
The ring costs more than three times its metal value, which is normal for finished jewelry. If resale value matters to you, bullion or high-karat pieces sold by weight hold more of their price. Run your own figures in the jewelry price calculator.
Tips for buying or selling in Manhattan
- Check the live spot price on your phone before you walk in, so you can turn any quote into a premium or a percentage of melt.
- Get two or three quotes on the same block; walking away is normal and costs nothing.
- For scrap, separate items by karat stamp and ask for the weight and the price per pennyweight or gram for each group.
- Prefer dealers who quote you a buy-back price as readily as a selling price.
- Pay by bank transfer or check where possible; card payments often carry a surcharge.