The price of gold is constantly moving as the market values it according to supply and demand. Typically the price of gold is always taken as the currency cost of 1 troy ounce in US dollars.
When it comes to money gold is also a good way of seeing the price of a currency: Not how much is the gold in US dollars but how much are US dollars worth in gold terms. By looking at it this way you can get some indication of how the dollar (or the pound) has inflated over time.
Sign up to get the latest Glint news
Receive the GLINT newsletter with the most popular content, platform updates and software guides.