Calculating actual gold value

While calculating gold value it is very important to know gold purity. Gold purity is known as Karat.

Karat represents the gold ratio inside the alloy in which it is located. Weight ratio of gold alloy and value of the carats gives you value or the amount of pure gold inside that specific alloy.

If the gold piece of jewelry or other piece has no mark for the karats then you can do test with the proper equipment, which can tell you gold purity.

Learn how to test gold to determine karats

If you don’t have the equipment to determine gold purity, then we suggest that you buy it. If you don’t want to spend money in that way, then just go to the jewelry and ask them to test your gold.

Anyway, if you want to do it yourself and you have equipment this is how it’s done. Reading gold purity with this method brings you reading something like these - 10, 14, 18 and 22 carats. This is quite accurate for such a use.

Now, if you suspect that you have 14 carat piece of jewelry do this. Rub a piece of jewelry by stone and put a single drop of acid from a bottle that reads 14 karat gold. If it is indeed the 14 karat gold then the acid will not show any reaction. If, for example, you don’t know the purity of gold at all, then you are doing the test that we wrote in a way to repeat the action with acids from the lowest to the highest value. The first time you see that the acid reacted know that you have previously lower carat value of gold jewelry.

How to determine the weight of gold?

Once you determine the purity of gold, the next step is to weigh gold. It is necessary to weigh the gold each group separately. So, if you have two pieces of jewelry with 18K gold and one piece of 10K and 22K gold do this. Do separate weigh measurement for 10K gold. Do separate weight measurement for two 18K gold pieces. And once again, do separate weight measurement for 22K gold piece.

While you do weight measures it is very important to use precision scale. If you own goldsmith's scale, which measures weight in ounces of gold then simply Calculate Ounces to Grams. 1 ounce contains 28.3495231 Grams.

On the end you need to determine the price of gold

The price of gold per ounce is changing every moment. However, to know the current value of gold on the world market is enough to look on the internet and read the chart.

Gold price is expressed per troy ounce, which is 31.1 grams of pure gold.

Divide the current value of gold per ounce from 01/31 to get one value per gram. The value you get now to be multiplied with the purity of gold you own. For each group of gold that you weigh divide it with 24 and then multiply the result with the current value of gold per gram.

And finally, just multiply the value of gold per gram with the weight of gold that you have weighed in grams.