How much gold costs?

Answer 1

To find the value of a gram of gold, you must first find the spot price of gold (per troy ounce) in your country, then convert to grams. Thus, if the spot price of gold is 900 US dollars per troy ounce and there are about 31.10 grams in a troy ounce, then the math follows:

$900 x 1 ounce/31.10 grams = $28.94/gram

To find the value of jewelry, you need to know the karats (weight) of actual gold in the jewelry. 24kt gold is the most karats of gold available and this is basically pure gold. 14kt and 18kt are common in the US, while 22kt gold is sold overseas. If you buy an 18kt piece of jewelry, this means that this jewelry is in fact only 75% gold. The remaining 25% is other metals.

So if I have a gram of 18kt gold jewelry, I must multiply price per gram by percent gold to find the actual price in grams. $28.94 x .75 = $21.71/gram. Other factors will also affect the ultimate price, such as workmanship, gemstones, etc.

A gram of gold weighs approx the same as a dollar bill and at todays price is valued at $32