As of August 17, 2026, gold is trading at elevated levels. The global spot price is approximately $4,400–$4,402 per troy ounce, which corresponds to around $141.5 per gram of pure 24-karat gold.
Current prices
Global market (spot)
24K gold — ≈ $141.5 per gram
Kazakhstan
24K gold — 65,300–65,500 tenge per gram
Russia
Pure gold (24K / 999) — ≈ 12,190–12,200 ₽ per gram
585 gold (scrap/melting value) — ≈ 7,100–7,300 ₽ per gram
In Russian jewelry stores, the price per gram for finished 585 gold jewelry usually starts from 8,000–10,000 ₽ and can be higher depending on the brand, design, and markup.
How gold prices changed in 2026
Gold has shown high volatility in 2026, but the overall trend remains upward:
- At the beginning of the year and during spring, prices repeatedly reached new local highs.
- In summer, the market experienced corrections, but by mid-August gold had again stabilized above the $4,400 per ounce level.
- Over the past 30 days, gold has risen by approximately 9–10%.
- Over the year (since August 2025), gold has increased by around 31–32%.
In Kazakhstan, the price of one gram of gold has increased by more than 2.5 times in recent years (in May 2021, it was around 26,000 tenge per gram).
Why gold remains expensive
The main factors supporting gold prices:
- Central bank demand
- Many countries continue increasing their gold reserves as protection against currency and geopolitical risks.
- Inflation expectations and monetary policy
- Concerns about inflation and possible policy easing by major central banks make gold an attractive asset.
- Geopolitical uncertainty
- During periods of instability, investors traditionally increase investments in safe-haven assets.
- Limited supply
- Gold production is growing more slowly than demand, especially amid rising production costs.
- Jewelry industry demand
- Despite higher prices, jewelry production continues to grow in several countries, including Kazakhstan.
How rising gold prices affect the jewelry market
- The average weight of gold jewelry has noticeably decreased. Manufacturers are increasingly switching to hollow and lightweight designs to maintain relatively affordable retail prices.
- Consumers are increasingly choosing lighter jewelry and silver.
- Interest is growing in combined products (gold + silver) and jewelry with colored gemstones or lab-grown diamonds.
- In Kazakhstan, mandatory digital labeling of jewelry will be introduced from December 1, 2026 — this should partially bring the market out of the shadow economy and improve price transparency.
What buyers should know now
- Look not only at purity but also at weight
- With high metal prices, even a 1–2 gram difference can significantly affect the final cost.
- Hollow jewelry is not always a bad choice
- Modern technologies allow manufacturers to create durable and attractive pieces with lower weight.
- Compare the price per gram
- Markups can vary significantly between stores. Sometimes buying a slightly heavier item with a lower markup can be more cost-effective.
- Consider alternatives
- Silver, mixed metals, and jewelry with lab-grown stones can provide a stylish look at a lower cost.
- Monitor exchange rates
- In Kazakhstan and Russia, the final price strongly depends on the dollar exchange rate and local market quotations.
Summary
Gold remains at historically high levels, and most analysts do not expect a sharp decline in the near future. For jewelry buyers, this means paying closer attention to the weight of the piece, design, and the balance between price and quality. Lightweight modern models, silver, and jewelry with contemporary gemstones allow consumers to stay fashionable without overpaying for excess metal.
Data is current as of August 17, 2026, and may change throughout the day. Sources: spot market quotations and publicly available market data.