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Determining the Worth of Your Gold Through Live Gold Prices in UK

The idea of selling scrap gold has been around for a long time, but until recently, only dealers and commodities brokers have done checking live gold prices in UK.

The Interest in Selling Scrap Gold

It has only been in the past five years or so that selling scrap gold has gained a lot of popularity. In the past, only those who visited a jeweller on a regular basis knew that you could actually find someone interested in buying scrap gold. Only with the recent upsurge in television ads advocating selling your scrap gold, have people become aware that they can make a bit of extra money with something that is just wasted sitting in a drawer somewhere.

Learning the Current Price of Gold

There are many websites online that list current gold prices in UK. Be aware that the price is listed in Troy ounces of 99.99% pure gold and that when selling your gold, that is not the price you will be paid. A few of the websites are taxfreegold.co.uk, ukgoldprice.com, goldprice.org, livecharts.co.uk, goldinfo.net, scrap-gold-buyers.co.uk, bowjanglesmidlands.co.uk, and myprecious.co.uk where we found the price was old, but the site has a lot of useful information.

A panel sets the price of gold per gram in the UK twice a day: once in the morning and once in the late afternoon. Those who buy scrap gold use this information to base the price they will pay to buy gold.

Determining What Your Gold is Worth

You first need to know the carat, 10K, 18K, 24K. Then you need to remove any gemstones from the jewellery and weigh the gold on a very accurate scale and determine how many grams of each carat you have. Then you multiply the weight by the amount you expect to be paid per carat type. Checking the live gold prices in UK will give you an idea of whether selling your gold is currently worth it.

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