Gold Price Calculator

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.

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.

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.

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.

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.

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