How to Track Gold Rates in UK

The purity of an item made of gold is measured in what is commonly known as carats. Pure gold for example, is equivalent to 24 carats. To know the carat rate, see the inscription on the item. The lesser the carat, the lesser the percentage of then gold when combined in relation to it’s combined metal. Most of the gold that is mined are made into jewellery, industrial and medical components, and gold coins and bullions.

After knowing its purity, you can now weigh the item. The weighing scale used must be accurate and precise because a few grams are already equivalent to more than a hundred pounds. The standard unit of measurement is in ounce.

Multiply the weight with the percentage of gold content and with the current rate or “spot price” of gold to get its bullion value. The resulting price will be the selling or buying price of the said item on a particular day. Websites like scrap-gold-buyers.co.uk have online calculators for anyone to use.

To know the recent gold rates in the UK, check gold-prices websites like Goldpricetoday.co.uk and 24hourgold.com regularly. They also have gold prices in different currencies. The prevailing rate of gold for the past month ranged from £990 to £1075 per ounce.

Gold is a popular form of investment because its price is not as easily affected as the price changes in commodities because it acts as a form of currency. You can invest by buying gold coins or bullion gold bars. Though gold bars have lower premiums than coins, they are also easier to forge. So always be careful in your investment choices.

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