How to know the price of gold?
How is the price of gold calculated? It is the complementary question asked by lot of peoples. There are several factors to take into account when Estimate you scrap gold for unwanted jewellery.
So how do I calculate the gold price of the objects that I am going to sell?
It can be calculated straightforwardly, with a simple formula, which -not that it is the best- but the only way to know the official world price of the gold market and its quotation.
Gold price calculation graphs will give us the information by kilos and by ounces; to calculate the price of gold, we look at the price of gold per kilo. The price marked by the said graph is the price per kilo of 24 karat gold (of the highest purity in its form of sale for investors), and to know the price of a gram of 18 karat gold jewelry, we must divide by 1,000 the price of gold per kilo of this graph and multiply the result by 0.73. In this way, we will have achieved the price according to the international and real price at 100% in an absolutely empirical way at the moment.
The purity of gold
To estimate the value of your gold items, you must first assess the purity of the metal. It is measured in carats. The gold of the coin or the jewel can thus be 9, 14, 18, or 22 carats. In principle, pure gold, at 24 carats, is not used in jewelry.
Take the example of an 18-karat gold jewel. It contains 75% gold, or, to put it better, 750 thousandths.
To find out the number of carats of your jewel, use a magnifying glass. It will allow you to distinguish the punch which appears on it. If you see a hallmark in the shape of an eagle’s head, the jewelry’s gold is 18 or 22 carats.
A shell-shaped hallmark indicates 14k gold. As for the hallmark depicting a clover, it indicates 9-carat gold.
The other criteria
After determining the number of carats of the gold coin or jewel, it is necessary to assess its weight in grams. If it is a piece of jewelry, gold should be separated from all ornaments, which are not considered in the estimate.
If you want more precision, use the postal weighing machines. In this case, you can put the gold to be weighed in an envelope.
It may be best to have this weighing carried out by a dealer who has suitable instruments. To be on the safe side, have the gold weighed by several professionals.
To know the price of a gram of gold, it suffices to divide a gold bar’s official value by 1000. The most common gold bar actually weighs a kilo.
The official price of this ingot, and therefore the price of gold, is set every day, depending on supply and demand, by the London international market, the world’s number one place for gold transactions.
