Published 2 June 2026
The headline figures
On the morning of 2 June 2026, the UK gold price was about £3,360 per troy ounce (live spot, indicative). The published World Bank monthly averages are £3,533 for January 2026, £3,696 for February (the recent peak) and £3,640 for March. Daily prices since March have drifted lower into early June.
For sellers, the per-gram pure (24ct) translation of £3,360/oz is roughly £108/g, and that flows through to the carat rates GoldPaid publishes on the gold calculator and the gold price page. The current published rate set was reviewed on 2 June 2026.
What has actually changed
The April 2026 World Bank Commodity Markets Outlook reported that the precious-metals price index fell 2.7% in the month while energy prices rose 12%. The Bank’s analysis suggests the long bull run in gold and silver since late 2025 is meeting a ceiling, not collapsing. It is a pullback off an unusually high spring peak, not a rout.
Three drivers are doing most of the work. The first is the real interest-rate path: as central-bank rates priced in firm-er-for-longer language during May, the opportunity cost of holding non-yielding gold rose. The second is the dollar: sterling firmed modestly into June, which lowers headline GBP gold prices on the same dollar-denominated metal. The third is profit-taking after a roughly 47% twelve-month rise in GBP terms (May 2025 to March 2026), which is a logical place for funds to take chips off the table.
What it means for sellers
Two things are honestly true at once. First, prices are still close to all-time highs in GBP — £3,360 is below the February peak but well above the £2,477 spot of May 2025, where this most recent rally started. A sale in June 2026 still clears materially more pounds than the same items would have done a year ago.
Second, no one, including us, can reliably predict the next move. The World Bank’s view is that prices may retreat further into 2027; private analysts disagree, and the market’s job is to disagree with both. The practical answer is: take an indicative figure today, weigh it against your reason for selling, and decide. Waiting for the top is a strategy that only ever looks obvious in hindsight.
What we are doing on our side
Indicative per-gram buyer rates were reviewed on 2 June 2026 against the day’s live spot. Final offers continue to be set after an XRF assay against the live precious-metal market on the day the parcel arrives, not against last week’s spot, and not against a stale published rate. That is the whole point of the postal model: you see a written, dated valuation on real numbers before you decide.
Common questions
Will gold go higher than the February 2026 peak?
No one knows. The World Bank expects a possible ceiling and a soft retreat into 2027; private analysts disagree. The honest answer is to treat the market like the weather rather than a strategy.
Is now a good time to sell gold?
Prices are still close to all-time highs in GBP and well above where the rally started in May 2025. Whether it is a good time for you depends on your reason for selling, see our 2026 market outlook.
Has GoldPaid changed its per-gram rates?
Yes, rates were reviewed on 2 June 2026 against the day’s live spot. The current indicative figures are on the gold calculator and final offers always use the live market on the day of assay.
Where does the World Bank data come from?
It is the monthly average of daily London PM fixings published in the World Bank Commodity Markets Outlook (the "Pink Sheet"), reproduced by IndexMundi. The dataset behind our gold price chart uses the same series.