The price of gold ended October 2026 with an average of US$4,105 per troy ounce, according to the World Bank monthly series updated on November 3. That is 18.2% below February's record of US$5,020, but still 1.2% higher than a year earlier and more than three times the 2016 average. At October's observed dollar rate, an ounce was worth about CLP 4,032,250 and a gram of pure gold about CLP 129,640.
This guide brings together the data anyone following gold from Chile needs: what it is worth today in dollars and pesos, how it moved month by month in 2026, what a gram is worth by karat and which factors explain the rises and falls. All figures come from the World Bank's official series (known as the Pink Sheet) and the Central Bank of Chile's observed dollar.
View the data as a table
| Troy ounce in dollars | US$4,105 |
| Troy ounce in pesos | $4,032,250 |
| Gram of pure gold | $129,640 |
| Below the February record | -18.2% |
Gold price today: what an ounce is worth in dollars and pesos
Gold is quoted in dollars per troy ounce, a unit of 31.1035 grams. The international benchmark is the London price compiled by the World Bank: in October 2026 it averaged US$4,105, after US$4,319 in September and US$4,411 in August. Day to day the price changes by the minute: on Thursday, November 5, an ounce was trading at around US$4,120, according to Trading Economics market tracking, very close to the October average.
To convert it to pesos you multiply by the dollar. The Central Bank's observed dollar averaged CLP 982.28 in October, its highest level of the year, according to data published by mindicador.cl. That is why gold in pesos fell less than in dollars in the second half: a pricier dollar partly offsets cheaper gold. On Thursday, November 5, the observed dollar stood at CLP 970.95.
| Month of 2026 | Gold (US$/oz) | Observed dollar | Ounce in pesos | Gram in pesos |
|---|---|---|---|---|
| January | US$4,753 | CLP 883.97 | CLP 4,201,489 | CLP 135,081 |
| February | US$5,020 | CLP 862.02 | CLP 4,327,340 | CLP 139,127 |
| March | US$4,856 | CLP 909.89 | CLP 4,418,441 | CLP 142,056 |
| April | US$4,721 | CLP 897.89 | CLP 4,238,921 | CLP 136,284 |
| May | US$4,587 | CLP 897.64 | CLP 4,117,465 | CLP 132,379 |
| June | US$4,228 | CLP 903.38 | CLP 3,819,509 | CLP 122,800 |
| July | US$4,073 | CLP 930.97 | CLP 3,791,841 | CLP 121,910 |
| August | US$4,411 | CLP 917.66 | CLP 4,047,813 | CLP 130,140 |
| September | US$4,319 | CLP 947.27 | CLP 4,091,247 | CLP 131,537 |
| October | US$4,105 | CLP 982.28 | CLP 4,032,250 | CLP 129,640 |
Source: gold, monthly average from the World Bank, Pink Sheet (November 3, 2026); dollar, monthly average of the Central Bank of Chile's observed dollar published by mindicador.cl. The peso columns are a Pauta Financiera calculation (ounce in dollars times the average dollar; gram = ounce divided by 31.1035).
How the gold price has changed in 2026, month by month
The year started strong. In January the ounce averaged US$4,753 and in February it reached US$5,020, the highest monthly average in the entire World Bank series, which begins in 1960. From there gold fell for five straight months to US$4,073 in July, bounced in August (US$4,411) and slipped again in September and October.
View the data as a table
| Gold | |
|---|---|
| Jan-25 | US$2,710 |
| Feb-25 | US$2,895 |
| Mar-25 | US$2,983 |
| Apr-25 | US$3,218 |
| May-25 | US$3,309 |
| Jun-25 | US$3,353 |
| Jul-25 | US$3,340 |
| Aug-25 | US$3,368 |
| Sep-25 | US$3,668 |
| Oct-25 | US$4,058 |
| Nov-25 | US$4,087 |
| Dec-25 | US$4,309 |
| Jan-26 | US$4,753 |
| Feb-26 | US$5,020 |
| Mar-26 | US$4,856 |
| Apr-26 | US$4,721 |
| May-26 | US$4,587 |
| Jun-26 | US$4,228 |
| Jul-26 | US$4,073 |
| Aug-26 | US$4,411 |
| Sep-26 | US$4,319 |
| Oct-26 | US$4,105 |
In pesos the story is somewhat different. Because the dollar was cheap early in the year (it averaged CLP 862 in February), a gram of gold peaked in March, at CLP 142,056, when the dollar had already risen to CLP 910. In October, with the dollar above CLP 980, the gram stood at CLP 129,640, only 8.7% below that peak, while in dollars the drop from the record exceeds 18%. Anyone measuring in pesos must watch both variables; this article explains what drives the dollar in Chile and how much it has risen in 2026.
View the data as a table
| Gram of gold in pesos | |
|---|---|
| Jan-25 | $87,195 |
| Feb-25 | $89,039 |
| Mar-25 | $89,437 |
| Apr-25 | $99,525 |
| May-25 | $100,111 |
| Jun-25 | $101,122 |
| Jul-25 | $102,181 |
| Aug-25 | $104,635 |
| Sep-25 | $113,255 |
| Oct-25 | $124,463 |
| Nov-25 | $122,951 |
| Dec-25 | $126,923 |
| Jan-26 | $135,081 |
| Feb-26 | $139,127 |
| Mar-26 | $142,056 |
| Apr-26 | $136,284 |
| May-26 | $132,379 |
| Jun-26 | $122,800 |
| Jul-26 | $121,910 |
| Aug-26 | $130,140 |
| Sep-26 | $131,537 |
| Oct-26 | $129,640 |
The gold price over the last ten years
In perspective, the rise is exceptional. Between 2016 and 2019 gold moved around US$1,250 to US$1,400 an ounce. The pandemic took it to an average of US$1,770 in 2020, and it then stayed near US$1,800 through 2022. The big jump came later: US$2,388 in 2024, US$3,442 in 2025 (+44.1%, the largest annual increase since 1980) and an average of US$4,507 between January and October 2026.
| Year | Annual average (US$/oz) | Change |
|---|---|---|
| 2016 | US$1,249 | — |
| 2017 | US$1,258 | +0.7% |
| 2018 | US$1,269 | +0.9% |
| 2019 | US$1,393 | +9.8% |
| 2020 | US$1,770 | +27.1% |
| 2021 | US$1,800 | +1.7% |
| 2022 | US$1,801 | +0.1% |
| 2023 | US$1,943 | +7.9% |
| 2024 | US$2,388 | +22.9% |
| 2025 | US$3,442 | +44.1% |
| 2026 (Jan-Oct) | US$4,507 | +30.9% |
Source: averages calculated by Pauta Financiera from the World Bank, Pink Sheet monthly series. The 2026 change compares the January–October average with the full-year 2025 average.
Gold was not the only precious metal to soar. Using the same source, silver averaged US$71.8 an ounce between January and October 2026, 80.4% more than in 2025, with a peak of US$92.1 in January; platinum rose 50.1%. Industrial metals followed their own cycle, as shown by the copper price trend in 2026, key for Chilean exports.
- January 2025The ounce averages US$2,710
- April 2025Tops US$3,000 for a month for the first timeUS$3.218
- October 2025Crosses US$4,000US$4.058
- February 2026Monthly record: US$5,020
- October 2026Falls to US$4,105, 18% below the peak
What a gram of gold is worth in Chile by karat
Karats indicate how much of a piece is gold: 24-karat gold is pure (99.9%), 18-karat has 75% gold and 14-karat, 58.5%. To know what the metal in a piece of jewelry is worth, multiply the value of a gram of pure gold by its purity. At the October average, an 18-karat gram contains about CLP 97,230 in gold.
| 24k | 100.0% | 129,640 |
| 22k | 91.7% | 118,880 |
| 18k | 75.0% | 97,230 |
| 14k | 58.5% | 75,840 |
| 10k | 41.7% | 54,060 |
That figure is a reference for the metal, not what a gold buyer pays or what a jeweler charges. A buyer of gold also pays manufacturing costs, the seller's margin and VAT in the case of jewelry; a seller usually receives quite a bit less than the metal value, because the buyer deducts refining costs and margin. It is wise to get the price per gram and the purity in writing and compare at least two offers.
What drives the value of gold
- US interest rates. Gold pays no interest: when rates rise, holding it has a higher opportunity cost and its price tends to fall; when cuts are expected, it rises.
- The dollar. Because it is priced in dollars, a strong dollar globally tends to make gold cheaper and a weak dollar, more expensive.
- Geopolitical uncertainty. Wars and crises increase demand for safe-haven assets. The war in the Middle East and the oil price spike marked much of 2026.
- Purchases by central banks and exchange-traded funds (ETFs). They are the big buyers of bullion and their demand weighs on the price.
- Inflation. Gold is used as long-term protection against loss of purchasing power, although over short periods the link is weak.
In Chile, 12-month inflation reached 4.1% in September 2026, according to the INE; the details are in our article on CPI and inflation in 2026. For a saver in pesos, gold's result depends at the same time on the ounce, the dollar and local inflation.
Chile also produces gold
Chile is known for copper, but gold is gaining ground. National output reached 45,364 kilos of fine gold in 2025, 27% more than the 35,684 kilos of 2024 and the highest level since 2014, according to Cochilco data cited by Redimin. The main new contributor was Gold Fields' Salares Norte mine in the Atacama region. With prices above US$4,000, gold has also become a relevant by-product for several copper mines.
Is your company in mining, metals or investments? Reach Pauta Financiera readers who follow the markets every day.
See advertising optionsHow to invest in gold from Chile: options and costs to check
There are several ways to gain exposure to the gold price, and each has different costs. Pauta Financiera does not recommend any in particular: what helps is comparing what you pay to get in, to hold and to get out.
| Option | How it works | Costs to check |
|---|---|---|
| Physical gold (coins or bars) | You buy the piece and store it | Spread between buy and sell price, custody, insurance |
| Jewelry | The metal value is only part of the price | Manufacturing, margin and VAT; when selling you get only the metal value minus discounts |
| Gold exchange-traded funds (ETFs) | Bought on an exchange through a broker | Broker commission, fund's annual expense, exchange rate |
| Mutual funds with gold or mining shares | A manager invests on the investor's behalf | Annual fee and redemption charge |
Before deciding, keep two things in mind. First, gold is volatile: it fell 18% in dollars between February and October 2026. Second, it pays no interest or dividends, so the whole gain depends on its price going up. To compare fund costs, see our guide to mutual funds and their fees.
Frequently asked questions
What is the price of gold in Chile today?
In October 2026 the ounce averaged US$4,105 according to the World Bank, about CLP 4,032,250 at the month's average observed dollar. On November 5 it was trading near US$4,120 on the international market.
What is a gram of 18-karat gold worth?
The gold contained in one gram of 18-karat (75% purity) was worth about CLP 97,230 at the October 2026 average. A gold buyer pays less than that and a jeweler charges more.
How many grams are in an ounce of gold?
The troy ounce, used for precious metals, equals 31.1035 grams. It is not the same ounce used to weigh food (28.35 grams).
What was the highest gold price?
In the World Bank monthly series, the record is February 2026, with an average of US$5,020 an ounce. In pesos, the gram peaked in March 2026 at CLP 142,056.
Why does gold go up?
Because of a combination of factors: expectations of lower US interest rates, a weaker dollar, geopolitical uncertainty and purchases by central banks and funds. Several of them came together in 2025 and 2026.
Notice: this information is journalistic and educational, not financial advice. Check the terms and the total cost (CAE) with the institution before signing up.
