Learn how to calculate the gold rate! It’s easy and very helpful!

Amino from Cheyenne asked

How to calculate gold rate?

Alan, reDollar expert answered

It’s important to understand how it works to calculate the gold rate for buyers and sellers. If you either are about to buy gold or if you have made serious plans to sell gold, knowing the current gold price and knowing how you can calculate how much your gold is worth is the foundation of making a good gold-deal.

Hint: instead of doing a calculation by yourself you can also use our gold calculator

First Step

Know the current gold price: $3312.31 per ounce

Second Step

You need to know your gold’s purity stated in “K” for karat or as a figure like “999” or “750” to know how much pure gold was used to produce your gold.

10K means: your gold contains 41.6% pure gold
14K means: your gold contains 58.5% pure gold
18K means: your gold contains 75.0% pure gold
24K means: your gold contains 99.9% pure gold

.585 means: your gold contains 58.5% pure gold
.750 means: your gold contains 75.0% pure gold
.999 means: your gold contains 99.9% pure gold

Third Step

Calculate the gold rate according to our calculation-examples.

Current Gold Price / 31.1 = current gold price per gram

current gold price per gram x purity (0.585 for 14K gold) x gold’s weight = current gold value

It’s always smart to know as much as possible about your items value to figure out if you probably run into a good or bad deal. Once the business is done, it can be too late to make a step back.

Calculate Gold Rate for Various Alloys

The most convenient way to calculate the current gold rate is using a gold calculator like ours. It’s easy to handle and you can calculate both, the value per gram and the value per pennyweight.

Calculate 10K Gold Rate

Purity: 41.6% pure gold
Value per gram: $39.92
Value per pennyweight: $61.87

Calculation for 10K gold
Value per gram or pennyweight x your gold’s weight = value

Calculate 14K Gold Rate

Purity: 58.5% pure gold
Value per gram: $56.13
Value per pennyweight: $87.00

Calculation for 14K gold
Value per gram or pennyweight x your gold’s weight = value

Calculate 18K Gold Rate

Purity: 75.0% pure gold
Value per gram: $71.96
Value per pennyweight: $111.54

Calculation for 18K gold
Value per gram or pennyweight x your gold’s weight = value

Calculate 24K Gold Rate

Purity: 99.9% pure gold
Value per gram: $94.99
Value per pennyweight: $147.24

Calculation for 24K gold
Value per gram or pennyweight x your gold’s weight = value

Questions about calculating your gold rate?

It’s a matter of of course that our experts help yo to calculate your gold rate. Just send us some basic information about the gold you have and we will provide you with the value-facts you need.

Alan knows almost everything about gold. He is the perfect expert if you have a questions like how to calculate the gold rate. No matter if you plan to buy or sell gold, he will serve you with the best possible advice.

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