Gold Price Calculator
Calculate the value of gold by weight, purity (karat), and current spot price. Supports grams, troy ounces, tolas, and pennyweights with 9K through 24K purity levels. Enter your gold weight and the live spot price per troy ounce to get an instant valuation for buying, selling, or insuring gold jewelry and bullion.
Enter Values
Weight of your gold item
Higher karat means higher gold content
Current gold spot price in USD per troy ounce
Result
Enter values above and click Calculate to see your result.
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Formula
How it works: Convert the gold weight to troy ounces (1 troy oz = 31.1035 grams), multiply by the karat purity fraction (e.g., 22K = 91.67%), then multiply by the current spot price per troy ounce. The result is the melt value of the gold before any dealer premiums or making charges.
Worked Example
How to Calculate Gold Value by Weight and Purity
The value of gold depends on three factors: weight, purity (karat), and the current market spot price. This calculator converts your gold weight to troy ounces, applies the karat purity percentage, and multiplies by the live spot price to give you the melt value.
- 1 troy ounce = 31.1035 grams, the standard unit for precious metal pricing worldwide
- 24K gold is 99.9% pure, 22K is 91.67%, 18K is 75%, 14K is 58.5%, and 9K is 37.5%
- Tolas (11.66 g) are used in South Asia, pennyweights (1.555 g) in North American jewelry trade
- Melt value is the baseline; retail prices include premiums for fabrication, design, and dealer margin
- Gold spot price changes throughout the trading day; use the most current quote for accuracy
Enter your gold weight, select the unit and karat, and input the current spot price to see an instant valuation.
You can also calculate changes using our Scrap Gold Calculator, Gold Loan Calculator, Gold Investment ROI Calculator or Jewelry Markup Calculator.
Gold Purity by Karat
Karat ratings and their equivalent gold purity percentages.
| Karat | Purity (%) | Gold Parts | Common Use |
|---|---|---|---|
| 24K | 99.9% | 24/24 | Bullion, coins, bars |
| 22K | 91.67% | 22/24 | Indian, Middle Eastern jewelry |
| 18K | 75.0% | 18/24 | Fine jewelry, watches |
| 14K | 58.5% | 14/24 | US, European everyday jewelry |
| 9K | 37.5% | 9/24 | UK, Australian budget jewelry |
Note: The remaining percentage in non-24K gold consists of alloy metals like copper, silver, zinc, or palladium that add strength and alter color.
Frequently Asked Questions
How do I find the current gold spot price?
The live gold spot price is published by commodity exchanges like COMEX and LBMA. You can check it on financial sites such as Kitco, Bloomberg, or Google Finance by searching "gold price." The spot price changes throughout trading hours and is quoted per troy ounce in USD. Use the most recent price for the most accurate calculation.
What is the difference between karat and carat?
Karat (K) measures gold purity: 24K is 99.9% pure gold, 22K is 91.67%, 18K is 75%, 14K is 58.5%, and 9K is 37.5%. Carat (ct) measures gemstone weight where 1 carat = 0.2 grams. They are completely different units despite sounding similar. In some countries, "carat" is used for both, but in the gold industry, "karat" specifically refers to purity.
Why is 22K gold more common in jewelry than 24K?
Pure 24K gold is very soft and scratches easily, making it impractical for everyday jewelry. 22K gold (91.67% pure) contains 8.33% alloy metals like copper, silver, or zinc that increase hardness and durability while keeping the rich yellow color. In South Asia and the Middle East, 22K is the standard for gold jewelry. Western markets tend to use 14K or 18K for even greater durability.
What is a troy ounce vs a regular ounce?
A troy ounce equals 31.1035 grams, while a regular (avoirdupois) ounce equals 28.3495 grams. Gold and other precious metals are always measured in troy ounces. One troy ounce is about 10% heavier than a standard ounce. When someone quotes gold at "$2,350 per ounce," they mean per troy ounce.
Does this calculator include dealer premiums?
No. This calculator computes the melt value based on pure gold content and spot price. When buying gold, you will pay a premium above spot price (typically 3 to 10% for bullion, 20 to 100%+ for jewelry). When selling, dealers typically pay 90 to 98% of melt value. The melt value is the baseline for negotiations.
Financial Disclaimer
This calculator is provided for informational and educational purposes only. It is not intended as financial, investment, or tax advice. Results are estimates and may not reflect your actual financial situation. Always consult a qualified financial advisor or tax professional before making any financial decisions based on these results.
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