The gold price does not change over the weekend because international trading markets are closed. The spot price of precious metals, such as the gold price, silver price, platinum price, and palladium price price, is determined on these global markets, with London (LBMA), New York (COMEX), and Shanghai (Shanghai Gold Exchange, SGE) playing a central role. Precious-metal prices are quoted worldwide in U.S. dollars (USD).
The Shanghai Gold Exchange is the first market to open on Monday morning at 02:30 a.m. Dutch time. The LBMA in London is the last to close on Friday evening at 10:00 p.m. Dutch time. From that moment, precious-metal trading largely pauses, which is why prices remain unchanged during the weekend.
The price you see over the weekend reflects the final trading level from Friday evening. Although the spot price itself does not move, you can still buy and sell precious metals 24/7 via our website or the Holland Gold App.
Read more about the spot price.