Find the 24 ct gold rate today

Over the last few decades hedge funds and traders of all types invested heavily in bonds, warrants, contracts etc. As a result of the global downturn however, many investors have lost faith in such transient commodities. Now they have fallen back on more concrete items, which are considered to be solid and real investments. Therefore more and more people are now trading in gold, and as a result the 24 ct gold rate today is much higher than it was in previous years.

A 24 carat gold bar is a sample of completely pure gold. This quality of gold is rarely used in jewellery however, as gold is a relatively soft metal which is very malleable. Generally other metals such as copper and silver are added to the gold, to help it hold its shape. Therefore most gold items that are sold in jewellers and other stores are in fact gold alloys. Consumers and dealers can then identify the purity of each gold item using the carat measurement system.

When the gold price is fixed twice daily in London, this figure pertains to 24 ct gold samples only. If dealers wish to work out how this price relates to gold of lower carats, they must adjust the figure accordingly. For example, 10 carat gold is 10 parts pure gold and 14 parts additional metals. Therefore the price for gold of this quality is 10/24 times the 24 ct gold price.

Interestingly, the 24 ct gold rate today is given in a slightly archaic unit of measurement - the Troy Ounce. This corresponds to 20 pennyweight, or 31.1 grams. The current 24 ct gold price can be found at lbma.org.uk.

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