Find the gold price in grams in UK markets
If you are considering selling some gold jewellery or other gold items, you should make sure you know how to calculate its worth. In order to work this out you will need to understand a little bit about how the gold markets work, and how gold is valued. For example, while the gold price in grams in UK markets will give you some indication of the value of your collection, you must also take into account the purity of the samples.
The gold price in grams in UK markets is determined for a sample of completely pure gold. However gold is available in different purities, which of course affects its value. Firstly, gold in its purest form is defined as having 24 carats. Gold alloys, which are composed of combinations of gold and other metals, have lower carat values, indicating how much pure gold is contained in the sample. For example 2 carat gold contains 2 parts pure gold, while the other 22 parts are made up of other metals. In order to work out the percentage of pure gold in a 2 carat sample therefore, you simply have to divide 2 by 24, and multiply the answer by 100.
The current gold market price can be found at lbma.org.uk. This figure is given for a single Troy Ounce of pure gold, which is equal to 31.1 grams of 24 carat gold. To find the gold price in grams in UK markets therefore, you must divide this figure by 31.1. Remember that this is the price for 1 gram of pure gold. Multiply this figure by the carat value of your item, and then divide it by 24, to find out how much each gram of your sample is worth.