Gold Price Today in South Africa
The live table shows the gold price in South Africa in rand (ZAR) per gram, per ounce and for the gold content of each Krugerrand size, plus 18K, 14K and 9K jewellery gold per gram. Coin dealers sell above these parity values and buy back below them.
Live gold rate in South Africa (ZAR)
| Weight & purity | Live price |
|---|---|
| 24K gold · 1 gram | live |
| 1 oz fine gold (1 oz Krugerrand content) | live |
| ½ oz fine gold (½ oz Krugerrand) | live |
| ¼ oz fine gold (¼ oz Krugerrand) | live |
| 1/10 oz fine gold (1/10 oz Krugerrand) | live |
| 18K gold · 1 gram | live |
| 14K gold · 1 gram | live |
| 9K gold · 1 gram | live |
Live XAU/ZAR (TradingView FX_IDC:XAUZAR) scaled to each weight and purity. Krugerrand rows show gold content only; dealers add a premium. International parity: the live world gold price converted at the current exchange rate, scaled by weight and purity. It excludes local dealer premiums, taxes and making charges. How we calculate
Gold and the rand
South Africa was the world's largest gold producer for most of the twentieth century, and Johannesburg was built on the Witwatersrand goldfields. Output has fallen a long way since its peak, but gold still matters to the economy, to the Johannesburg Stock Exchange through mining shares, and to the rand. The local price is the dollar price multiplied by USD/ZAR. The rand is a volatile emerging-market currency, so the rand gold price often moves more than the dollar price, and a weak rand can lift it to records even when dollar gold is not.
The Krugerrand
First issued in 1967, the Krugerrand was the first modern gold bullion coin designed for private investors. The 1 oz coin contains exactly one troy ounce of fine gold, alloyed to 22K (91.67%) with copper, which gives it its orange tone and makes it harder-wearing; the coin therefore weighs more than an ounce, at about 33.93 g. Fractional sizes of ½, ¼ and 1/10 oz followed in 1980. Because the gold content is a round ounce, the Krugerrand's value tracks the spot price directly, and it is one of the most widely traded bullion coins worldwide.
| Krugerrand | Fine gold | Fine gold (g) |
|---|---|---|
| 1 oz | 1 troy oz | 31.10 |
| ½ oz | 0.5 troy oz | 15.55 |
| ¼ oz | 0.25 troy oz | 7.78 |
| 1/10 oz | 0.1 troy oz | 3.11 |
Smaller coins carry a higher premium per ounce, because striking and distribution costs are spread over less gold. See gold coin prices to compare the Krugerrand with other bullion coins.
Jewellery in South Africa
South African jewellers sell 9K, 14K and 18K gold. 9K (37.5%) is common for affordable rings and chains because it is durable and cheap per gram; 18K is the norm for engagement rings and diamond settings. Jewellery is subject to VAT at the standard rate of 15%, included in the shelf price. When selling jewellery, cash-for-gold buyers pay for the gold content by karat, far below the original retail price, because design, stones and VAT are not recovered.
Worked example (illustrative)
Suppose 1 oz of gold is R72,600 at parity (about R2,334 per gram). A dealer sells a 1 oz Krugerrand at 4% over spot and buys back at 1% under spot:
| Item | Calculation | Amount |
|---|---|---|
| Dealer selling price | R72,600 × 1.04 | R75,504 |
| Dealer buy-back price | R72,600 × 0.99 | R71,874 |
| Spread | R75,504 − R71,874 | R3,630 (5% of spot) |
| 9K chain, gold content per gram | R2,334 × 37.5% | R875.25 |
These are example numbers, not quotes. The 9K line shows why a 9K piece resells for far less per gram than its shop price.
Selling gold in South Africa
Coin dealers buy Krugerrands at a small discount to spot, provided the coins are genuine and in reasonable condition; they test weight, dimensions and sometimes conductivity. Jewellery is a different market. Cash-for-gold shops pay for the fine gold content by karat, minus a margin, and must keep records of who sold what under second-hand goods legislation, so bring identification. Old 9K rings and chains often yield surprisingly little, because only 37.5% of their weight is gold.
Where to buy
- Bullion and coin dealers in Johannesburg, Cape Town and Durban publish live buy and sell prices for Krugerrands and bars.
- Banks and investment platforms have offered Krugerrands and gold exchange-traded products; compare their spreads with dealers'.
- Jewellers in malls sell 9K to 18K pieces with VAT included.
Tips
- Compare the dealer's premium over the parity value in the table.
- Keep coins in capsules; heavily marked coins may be bought back at a discount.
- Ask cash-for-gold buyers to test and weigh in front of you, and get a written quote per gram.