Gold in Australia: A Comprehensive Guide to Prices, 24K Gold, Bullion, and the Best Places to Buy
Australia is the world’s second-largest gold producer, mining approximately 320 tonnes annually (2024), behind only China. Iconic mines like Super Pit in Kalgoorlie and Telfer in Western Australia fuel this output, while refineries like The Perth Mint and ABC Refinery produce world-class bullion.
In Australia, a nation renowned for its vast gold reserves and world-class mints, gold remains a cornerstone of financial security and cultural heritage. With a global spot price of $2,600 per troy ounce ($83.33 per gram) as of June 15, 2025, and a thriving local market, Australia offers unparalleled opportunities for gold investment.
Gold’s value lies in its scarcity, durability, and universal acceptance. It’s a safe-haven asset, thriving during economic uncertainty, as seen in 2025 with global prices reaching $2,600/oz amid inflation and geopolitical tensions.
In Australia, gold is not only an investment but a cultural touchstone, celebrated in coins like the Australian Kangaroo and Lunar Series, which blend artistry with intrinsic value, offering 24K gold at competitive prices ($80,000–$84,000/kg in Uganda vs. $86,000–$90,000/kg in Australia).
By combining local expertise with global sourcing, we empower you to diversify your portfolio with ethical, high-purity gold.
Understanding Gold Prices in Australia
The price of gold in Australia is tied to the global spot price, set by the London Bullion Market Association (LBMA) at $2,600 per troy ounce ($83.33/g, June 15, 2025), converted to Australian Dollars (AUD) based on exchange rates (1 USD ≈ 1.51 AUD).
Local factors like taxes, refining costs, and dealer premiums add layers to pricing. Below, we break down gold prices, focusing on 24K gold and bullion.
Factors Influencing Gold Prices in Australia
- Global Spot Price
The LBMA sets the benchmark, driven by global demand, inflation, interest rates, and USD strength. In 2025, demand from central banks (e.g., China, India) and investors has pushed prices to $2,600/oz, up 20% from 2023.
- AUD Exchange Rate
A weaker AUD increases gold prices in Australia. With 1 USD ≈ 1.51 AUD, 1 oz of gold costs ~$3,926 AUD ($2,600 × 1.51).
- Local Supply and Demand
Australia’s robust mining output (320 tonnes/year) ensures ample supply, but export demand to markets like China and India can raise local prices.
- Taxes and Duties
Gold bullion (99.99% pure) is GST-exempt in Australia, but coins with numismatic value or jewelry may incur 10% GST. Import duties on foreign gold (e.g., from Uganda) are minimal but require compliance.
- Dealer Premiums
Retailers add 1%–8% premiums for refining, minting, and distribution. Bullion bars have lower premiums (1%–3%) than coins (3%–15%).
- Economic Conditions
High inflation (4% in Australia, 2025) and stock market volatility drive gold demand, supporting prices.
24K Gold Price in Australia
24K gold, or 99.99% pure gold, is the standard for investment-grade bullion and coins. In Australia, 24K gold prices are quoted per troy ounce, gram, or kilogram, reflecting live spot rates plus premiums. Below is a snapshot as of June 15, 2025:
|
Unit
|
24K Gold Price (AUD)
|
24K Gold Price (USD)
|
Notes
|
|---|---|---|---|
|
Per Gram
|
$125.83–$130.00
|
$83.33–$86.09
|
Spot $125.83/g (83.33 × 1.51), premiums add $2–$4/g.
|
|
Per Troy Ounce
|
$3,914–$4,045
|
$2,600–$2,678
|
Spot $3,926/oz, premiums 2%–5% for bullion, 5%–15% for coins.
|
|
Per Kilogram
|
$125,830–$130,000
|
$83,330–$86,093
|
Spot $125,830/kg, cast bars at lower premiums (1%–3%).
|
Examples:
- A 1kg cast bullion bar from ABC Bullion costs ~$127,000 AUD ($84,106 USD), with a 1% premium.
- A 1 oz Perth Mint Kangaroo coin costs ~$4,045 AUD ($2,678 USD), with a 5%–10% premium due to minting and design.
In contrast, Gold Buyers Africa Limited offers 24K gold at $80,000–$84,000/kg ($53,000–$55,630 USD) in Uganda, saving up to $5,000/kg before shipping ($500–$2,000/kg) and import costs.
While Australian gold is locally accessible, African gold can be a cost-effective alternative for bulk investors.
Historical Price Trends
Gold prices in Australia have risen steadily:
- 2015: $1,600 AUD/oz ($1,058 USD).
- 2020: $2,700 AUD/oz ($1,788 USD), driven by COVID-19 uncertainty.
- 2025: $3,926 AUD/oz ($2,600 USD), fueled by inflation and central bank buying.
Analysts predict prices could hit $3,000 USD/oz ($4,530 AUD) by 2027 if inflation persists, making now a strategic time to invest
Gold Bullion in Australia
Gold bullion—bars and coins of 99.5%+ purity—is the backbone of gold investment in Australia, prized for its liquidity, low premiums, and tangible value. Bullion is produced by world-renowned mints like The Perth Mint, Royal Australian Mint, and ABC Refinery, ensuring quality and global tradability.
Types of Gold Bullion
- Cast Bullion Bars
- Description: Poured into molds, with a rustic finish.
- Purity: 99.99% (24K).
- Sizes: 1g, 10g, 100g, 1kg, 400 oz (12.44kg).
- Advantages: Lowest premiums (1%–3%), ideal for bulk investors.
- Examples: ABC Bullion 1kg bar ($127,000 AUD), Perth Mint 400 oz bar (~$1.57M AUD).
- Price: $125,830–$127,500/kg AUD ($83,330–$84,437 USD).
- Minted Bullion Bars
- Description: Stamped with serial numbers, logos, and polished finishes, often in tamper-proof packaging.
- Purity: 99.99% (24K).
- Sizes: 1g, 5g, 10g, 1 oz, 100g, 1kg.
- Advantages: High security, aesthetic appeal, easier resale.
- Examples: PAMP Suisse 100g bar ($12,700 AUD), Perth Mint 1 oz bar ($4,000 AUD).
- Price: $126,500–$130,000/kg AUD ($83,775–$86,093 USD), 3%–5% premiums.
- Bullion Coins
- Description: Minted with intricate designs, often featuring Australian wildlife (e.g., Kangaroo, Koala).
- Purity: 99.99% (24K).
- Sizes: 1/10 oz, 1/4 oz, 1/2 oz, 1 oz.
- Advantages: Collectible value, fractional sizes for smaller budgets.
- Examples: Perth Mint Kangaroo 1 oz ($4,045 AUD), Royal Australian Mint Koala 1/10 oz ($450 AUD).
- Price: $3,950–$4,200/oz AUD ($2,616–$2,781 USD), 5%–15% premiums.
- Pool Allocated Bullion
- Description: A share in a dealer’s physical gold holdings, stored securely without owning specific bars.
- Advantages: Lower costs, 24/7 trading, no storage fees.
- Examples: ABC Bullion Pool Allocated ($125,830/kg AUD).
- Price: Near spot ($125,830/kg AUD), minimal premiums.
Why Invest in Gold Bullion?
- Liquidity: Bullion is easily sold at LBMA rates, with dealers like ABC Bullion guaranteeing buybacks.
- Low Premiums: Bars offer better value per gram than coins or jewelry. A 1kg bar at $127,000 AUD has a $1,670 premium vs. $4,000 for 1 oz coins.
- Diversification: Gold’s negative correlation with stocks (down 10% in 2025) balances portfolios.
- Tangible Asset: Physical bullion offers security in crises, unlike paper investments.
- GST Exemption: Bullion (99.99% pure) is tax-free, unlike jewelry (10% GST).
Gold Buyers Africa Limited offers an alternative, sourcing 24K bullion bars at $80,000–$84,000/kg ($53,000–$55,630 USD) from Uganda, with assay reports ensuring 99.9% purity. While shipping ($500–$2,000/kg) and import compliance add costs, bulk buyers can save significantly compared to Australia’s $127,000/kg.
Best Places to Buy Gold in Australia
Australia boasts a robust gold market with reputable dealers, mints, and online platforms. Below, we highlight the best places to buy gold, based on pricing, product range, security, and customer service, while introducing Gold Buyers Africa Limited as a cost-effective international option.
Top Australian Gold Dealers
- ABC Bullion (Sydney, Melbourne, Brisbane)
- Overview: Australia’s leading bullion dealer since 1972, accredited by LBMA and Shanghai Gold Exchange (SGE).
- Products: Cast bars (1g–400 oz), minted bars, Perth Mint coins, pool allocated gold.
- Pricing: Competitive, e.g., 1kg cast bar at $127,000 AUD ($84,106 USD), 1 oz Kangaroo coin at $4,045 AUD. Live prices update every 5 minutes.
- Advantages: 24/7 online trading, secure storage via Custodian Vaults, SMSF investment options, guaranteed buybacks.
- Why Buy Here?: Trusted brand, low premiums, extensive range. Ideal for institutional and retail investors.
- Contact: www.abcbullion.com.au, +61 1300 361 261.
- The Perth Mint (Perth)
- Overview: World-renowned mint, exporting $18 billion in bullion annually to over 100 countries.
- Products: Kangaroo, Koala, Lunar coins (1/10 oz–1 oz), cast/minted bars (1 oz–400 oz).
- Pricing: 1 oz Kangaroo coin ~$4,045 AUD, 1kg bar ~$128,000 AUD. Prices finalized in-store or online.
- Advantages: High-quality designs, fractional coins for small budgets, storage programs, direct sales.
- Why Buy Here?: Iconic Australian coins, global reputation, ideal for collectors.
- Contact: www.perthmint.com, +61 8 9421 7218.
- Guardian Gold (Sydney, Melbourne)
- Overview: Authorized distributor of Perth Mint and Royal Australian Mint, part of Guardian Vaults Group.
- Products: Bullion bars (1g–1kg), coins (Kangaroo, Koala), pool allocated gold.
- Pricing: 1kg bar ~$127,500 AUD, 1 oz coin ~$4,000 AUD. Prices update every 3 minutes online.
- Advantages: Wholesale pricing, no delivery fees in Sydney/Melbourne CBDs, secure storage, SMSF support.
- Why Buy Here?: Seamless online buying, local pickup, storage solutions.
- Contact: www.guardian-gold.com.au, +61 1300 788 788.
- KJC Bullion (Sydney)
- Overview: Family-run dealer with 25+ years of experience, stocking international mints (Perth Mint, PAMP, US Mint).
- Products: Bars (1g–1kg), coins (Kangaroo, Maple Leaf), collectibles, secure storage.
- Pricing: 1kg bar ~$127,000 AUD, 1 oz coin ~$4,050 AUD. Live spot prices, bulk discounts.
- Advantages: Largest product range, worldwide shipping, SMSF options, no deposit for orders under $50,000.
- Why Buy Here?: Competitive prices, diverse selection, expert support.
- Contact: www.kjc-gold-silver-bullion.com.au, +61 2 9290 2599.
- Melbourne Gold Company (Melbourne)
- Overview: Premium dealer in Melbourne CBD, specializing in bullion and jewelry.
- Products: Cast/minted bars, coins, pool allocated gold, gold granules for jewelers.
- Pricing: 1kg bar ~$127,500 AUD, 1 oz coin ~$4,000 AUD. Live prices tied to spot.
- Advantages: No appointment needed, cash payments, gold loans, high buyback rates.
- Why Buy Here?: Convenient walk-in service, transparent pricing, ideal for local investors.
- Contact: www.melbournegoldcompany.com.au, +61 3 8678 2085.
- Bullion Now (Melbourne)
- Overview: Melbourne-based dealer with a focus on physical bullion and collectibles.
- Products: Bars, coins, silver bullion, numismatic items.
- Pricing: 1kg bar ~$127,000 AUD, 1 oz coin ~$4,050 AUD. Pays 100% of spot for buybacks.
- Advantages: Transparent pricing, excellent customer service, Little Coin Shop for collectors.
- Why Buy Here?: High buyback rates, personalized service, central Melbourne location.
- Contact: www.bullionnow.com.au, +61 3 9077 9918.
International Alternative: Gold Buyers Africa Limited
- Overview: Based in Kampala, Uganda, sourcing conflict-free gold from Uganda, Congo, Kenya, South Africa, Ghana, and Mali.
- Products: 24K bullion bars (100g–1kg), coins, nuggets, doré bars.
- Pricing: 1kg 24K bar at $80,000–$84,000 USD ($120,800–$126,840 AUD), saving ~$3,000–$6,000 AUD/kg vs. Australian dealers. Nuggets at $70,000–$75,000/kg USD ($105,700–$113,250 AUD).
- Advantages: Lower prices due to direct sourcing from artisanal mines, certified assay reports (AGR, SGS), ethical sourcing (planetGOLD, Fairmined standards), insured shipping via DHL/Brinks.
- Why Buy Here?: Cost savings for bulk purchases, ethical investment supporting African communities, 24/7 support via +256785307551 (WhatsApp).
- Considerations: Shipping costs ($500–$2,000/kg), Australian import compliance (minimal duties, AML/KYC requirements). Savings outweigh costs for orders over 1kg.
- Contact: +256785307551, https://goldbuyersafrica.com/ (website).
Comparison of Buying Options
|
Dealer
|
1kg 24K Bar (AUD)
|
1 oz Coin (AUD)
|
Key Strengths
|
Best For
|
|---|---|---|---|---|
|
ABC Bullion
|
$127,000
|
$4,045
|
Low premiums, 24/7 trading, storage
|
Institutional, retail investors
|
|
Perth Mint
|
$128,000
|
$4,045
|
Iconic coins, global reputation
|
Collectors, international buyers
|
|
Guardian Gold
|
$127,500
|
$4,000
|
Wholesale pricing, local pickup
|
SMSF, local investors
|
|
KJC Bullion
|
$127,000
|
$4,050
|
Diverse range, bulk discounts
|
Diverse investors, collectors
|
|
Melbourne Gold Company
|
$127,500
|
$4,000
|
Walk-in service, gold loans
|
Local buyers, jewelers
|
|
Bullion Now
|
$127,000
|
$4,050
|
High buyback rates, personalized service
|
Melbourne investors, collectors
|
|
Gold Buyers Africa Limited
|
$120,800–$126,840
|
$3,850–$4,000
|
Low prices, ethical sourcing, global reach
|
Bulk buyers, ethical investors
|
Challenges and Solutions for Buying Gold in Australia
|
Challenge
|
Description
|
Solution
|
Gold Buyers Africa Limited’s Role
|
|---|---|---|---|
|
High Premiums
|
Australian coins carry 5%–15% premiums vs. 1%–3% for bars.
|
Focus on cast bars or pool allocated gold.
|
Offers 24K bars at $80,000–$84,000/kg USD, 1%–3% premiums.
|
|
Price Volatility
|
Daily fluctuations ($3,926/oz AUD).
|
Monitor live prices, lock in rates.
|
Provides real-time LBMA pricing, locks in $80–$83/g USD.
|
|
Counterfeit Risks
|
Fake bars/coins in unregulated markets.
|
Buy from LBMA-accredited dealers, verify assays.
|
Supplies AGR/SGS assay reports, sources from licensed miners.
|
|
Storage Costs
|
Secure vaults charge fees (~0.5%–1% annually).
|
Use pool allocated gold or home safes.
|
Advises on storage, ships insured via DHL/Brinks.
|
|
Import Regulations
|
Importing gold requires AML/KYC, minimal duties.
|
Comply with Australian Border Force rules.
|
Handles export permits, AML/KYC for Uganda-sourced gold.
|
Why Invest in Gold in Australia?
Gold’s appeal in Australia is rooted in its financial and cultural significance:
- Safe-Haven Asset: Gold thrives in 2025’s volatile markets, with stocks down 10% and inflation at 4%.
- Liquidity: Australian bullion is tradable globally, with dealers like ABC Bullion offering buybacks at spot.
- Tax Benefits: GST-exempt bullion reduces costs compared to jewelry or numismatic coins.
- Diversification: Gold’s negative correlation with equities balances portfolios, recommended at 10%–25% allocation.
- Cultural Value: Perth Mint’s Kangaroo and Koala coins celebrate Australia’s heritage, adding collectible appeal.
- Ethical Options: Gold Buyers Africa Limited offers conflict-free gold, supporting sustainable mining in Uganda and Congo.
Practical Tips for Buying Gold in Australia
- Monitor Prices: Use live feeds from ABC Bullion or Perth Mint, updating every 3–5 minutes.
- Choose Bullion: Opt for cast bars (1kg, $127,000 AUD) for lowest premiums or coins (1 oz, $4,045 AUD) for collectibility.
- Verify Authenticity: Demand assay reports or buy from LBMA-accredited dealers like ABC Bullion.
- Consider Storage: Use vaults (Guardian Vaults, $500–$1,000/year) or home safes for physical gold.
- Explore International Options: For bulk savings, contact Gold Buyers Africa Limited at +256785307551 for 24K bars at $80,000–$84,000/kg USD.
- Plan for Taxes: Ensure bullion is 99.99% pure for GST exemption; declare imports for AML compliance.
- Time Your Purchase: Buy during price dips (e.g., post-Fed rate hikes) to maximize value.
Gold Buyers Africa Limited: Your Global Gold Partner
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Cost Savings: 24K bars at $80,000–$84,000/kg USD ($120,800–$126,840 AUD) vs. $127,000 AUD locally.
-
Ethical Sourcing: Conflict-free gold, certified by planetGOLD and Fairmined, supporting African communities.
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Security: Assay reports from AGR/SGS, escrow payments, insured shipping via DHL/Brinks.
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Expertise: 24/7 support (+256785307551), navigating AML/KYC and Australian import rules.
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Community Impact: Profits fund schools and clinics in mining regions, aligning your investment with social good.
Future Outlook for Gold in Australia
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Central Bank Buying: China and India added 1,000 tonnes to reserves in 2024, boosting demand.
-
Inflation Pressures: Australia’s 4% inflation rate (2025) supports gold as a hedge.
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Geopolitical Risks: Tensions in the Middle East and trade disputes fuel safe-haven demand.
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Mining Output: Australia’s 320 tonnes/year ensures supply, but global shortages could raise prices.