Working out the gold price in UK sterling

The global downturn has seen us all scrabbling for new ways to make a little bit of money. Thanks to their all encompassing presence in TV ad breaks, more and more people are coming around to the idea of selling their old gold to try and make a few quick bucks. While it's a pretty good idea, and there's definitely money to be made, it's vital you familiarise yourself with the gold price for the UK in sterling.

Due to the sheer number of "Cash for Gold" sites out there, there are obviously going to be a few bad eggs eager to separate you from your gold for the lowest possible price. Preventing this is easy, you just have to know what gold is roughly worth, and how to value your old gold.

Finding out the current price of gold is the easy part. There are literally hundreds of sites on the internet who publish the current price daily. However, it's best to go with one that has no affiliations, and isn't trying to foist their products on you. This is why we recommend checking out goldprice.org, as they have charts with all the current prices for each weight and carat.

So how do you find out the carat? Well, this isn't too difficult either, as each gold piece will have a Hallmark on it somewhere. The higher the number of the Hallmark, the better. To give an example, 24 carat gold's hallmark is 999, while 22 Carat is 936. So look out for the figure. Then it's simply a case of weighing your gold and multiplying the gram figure by the value of whatever carat gold it is. Simple!

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