Finding Out How Much [is] 18 Carat Gold is Worth
How much [is] 18 carat gold is worth depends entirely on the trading price of gold, which can change every day. It also depends on what gold you have and where you want to sell; scrap gold retailers will normally purchase gold for a fixed price and deduct 20% (on average) off the offer price to meet profit margins. International gold trades go from the current market price of gold, with no deduction for profit because gold is widely bought and sold as an investment.
When you want to find the value of gold you've got a few choices. You can go directly to the trader if you're selling scrap gold and compare prices (you can also go online to most traders and use calculators) or use international gold prices to calculate the value of gold. How much [is] 18 carat gold is worth also depends on its weight in grams; 18 carat refers to the purity of the gold, which is 0.750 purity in this case.
Formula for Calculating Market Gold Prices
If you want to sell your gold to a gold high street trader as scrap gold but want to make sure you're not being ripped off then you could try and use current gold prices to calculate the actual worth of 18 carat gold. With an average price in mind you'll find it easier to grab the cheapest deal, but note that most retailers may not considerably less than current gold prices; the price you calculate should be used as a typical idea of price, not an accurate representation of how much your gold is worth when sold as scrap.
You'll need to find somewhere that offers real time gold price updates, such as http://www.goldprice.com. Find the current price of your gold in grams using the charts, but remember your gold only has 0.750 purity if it's 18 carats. Once you find the real time update of the gold price, times it by the purity of your carat (in this case 28.59 x 0.750 using recent gold prices in GBP). Times the final figure by the weight of grams for your gold. Here's an example based on 5 grams and GBP gold trading price:
28.59 (current trading price) x 0.750 (purity of 18 carat) x 5 (amount of grams) = 107.21 GBP.
Gold Price Calculator Sites
If you prefer to keep things simple you can find out how much [is] 18 carat gold is worth using online calculators. They may not necessarily give you a real time update but it certainly cuts out conversions and calculations for you. Here's a few examples:
Gold Price (http://www.goldprice.org/)
Gold Price Calculator (http://www.goldpricecalculator.co.uk/)
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