Gold Price Today in U.S. Cities

One national spot price, many local totals

The gold price in New York, Chicago, Los Angeles, Houston or Tucson is the same spot price per ounce, because gold trades in one continuous national and global market. What differs locally is the dealer’s premium, state sales tax and, when you sell, the payout percentage a buyer offers.

Same coin, same spot price, and a difference of $187.20 caused entirely by the delivery address. Local tax rates added by counties and cities can widen the gap further in taxing states.

Threshold states and small orders

Several states exempt bullion only when a purchase exceeds a set amount. In such a state, a buyer placing two small orders on different days can pay tax on both, while a buyer placing one order above the threshold pays none. How the threshold is measured, per invoice or per transaction, depends on each state’s wording.

Tax follows the delivery address

When a dealer ships to you, your state’s rules usually apply, wherever the dealer is based. When you pick up in person, the rules of the state where you take possession generally apply. The sales tax by state table lists each state’s current treatment.

What actually varies from one city to the next

Local gold markets differ in competition, regulation and convenience rather than in the price of the metal.

• The number of competing shops. Where several buyers and sellers sit within a few blocks, quotes tend to stay honest because walking next door is easy.
• Local licensing rules for secondhand dealers, which can mean ID checks, purchase reporting and holding periods before a buyer can melt what you sell.
• Pickup versus shipping. Buying locally saves shipping and insurance but you pay the local shop’s premium.
• Shop hours. A counter can only lock prices while the market is open and the shop is staffed.
• Distance. In rural areas with few buyers, online sellers that ship insured often set the effective local price.

New York City

Manhattan’s Diamond District on West 47th Street, between Fifth and Sixth Avenues, packs a large number of jewelry and gold businesses into one block. That density makes comparing offers quick. New York State exempts qualifying bullion purchases above $1,000, so small purchases are taxed.

Los Angeles and Chicago

Both cities have established jewelry districts, downtown in Los Angeles and along Jewelers Row on Wabash Avenue in Chicago’s Loop, where many buyers compete for scrap and bullion. The same rule applies there as anywhere: get the offer as a percentage of melt value, not as a flat number.

When local shops run short

In March 2020, when demand for coins jumped nationwide, retail premiums rose sharply and many local shops sold out of popular products while online sellers quoted weeks of delivery delays. In a rush like that, the local price is set by whoever still has inventory, and it can sit far above the usual premium even though spot is identical everywhere. The reverse happens when many people sell at once: buyers widen their spreads, and local payouts drop further below spot than usual.

Carrying and shipping gold

There is no federal limit on carrying or transporting gold within the United States. Keep the invoice with the metal so you can show where it came from. Bullion sent by mail usually travels fully insured, and shippers of high-value parcels often use USPS Registered Mail or a courier service with signature on delivery.

Houston and Dallas

Large Texas metros have many coin shops and pawn shops spread across wide areas rather than in one district, so comparing offers takes more driving. Calling ahead to ask for the payout percentage by karat saves trips.

Local gold prices across U.S. time zones

The market runs on Eastern Time, but you buy and sell on local time. That matters most for shops in the western states, whose working day starts after New York’s busiest hours.

Tucson, Phoenix and the rest of Arizona

Arizona does not observe daylight saving time, apart from the Navajo Nation. From March to November, the COMEX settlement at 1:30 p.m. ET happens at 10:30 a.m. in Tucson and Phoenix; in winter it happens at 11:30 a.m. A shop opening at 9:00 a.m. in summer opens at noon New York time, long after the morning’s U.S. data release.

West Coast shops

In Los Angeles, San Francisco and Seattle the settlement falls at 10:30 a.m. Pacific all year. By the time many Pacific shops open, London’s benchmark auctions are finished and the day’s U.S. economic data is already out, so the morning’s biggest moves may have happened before the doors open.

The full weekly schedule, including Sunday opens and holidays, is on the gold market hours page.

Checking a local quote in five steps

Whatever city you are in, the method for judging a local price is the same, and it takes about five minutes with a phone calculator. Do it at the counter, not after you have paid. Every shop in the country prices off the same gold price today, so that number is your starting point.

1. Check the spot price on your phone and note the time.
2. Ask the shop for its price per ounce on the exact item, and work out the premium as a percentage of spot.
3. Add sales tax if your state charges it on that product and amount.
4. Compare with an online total for the same item, including shipping, insurance and any card surcharge.
5. Ask the shop’s buyback price for the same item today, so you know the spread you are taking on.

Searching for “gold price near me”

Local search results for gold prices mostly list shops. Their advertised figures are usually per gram of a specific karat, or a buying price rather than a selling price, so convert them before comparing with spot. A shop that pays more per gram of 14K may still pay less than another as a percentage of melt value. For per-gram conversions, the gold price per gram page lists every karat.

Who pays the most near you

The buyer who pays the most is the one offering the highest percentage of melt value, not the one with the biggest sign. Getting two or three quotes on the same weighed lot is the only reliable way to find out. The selling guide covers the questions to ask.

Buying locally

For purchases, the buying guide compares product types and premiums so you can judge a local shop’s prices against the wider market.