Gold Price Per Gram
The Gold Price UK fix of the day determines the UK gold price per gram Calculator. Different Karat of gold has a different percentage of gold in them, which determines the gold price per gram, depending on the Karat of gold. Few of the popular Karat and how to determine the price are listed below. Our UK Gold price per gram calculator use the live UK Gold market price. Just enter the grams in the right Karat section and the calculator will give you the value of the gold when you sell your scrap gold to us.
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Gold Price Per Gram Calculator
Get your gold price per gram in UK according to the Karat of Gold.
If you wish to obtain today’s best UK value for your gold, jewellery and scrap gold value, our live UK gold price per gram calculator provides the exact current value of your gold items depending on the Karat.
What is Carat?
It is a common misconception that karat, which is the purity measurement for gold, and carat, which is the weight measurement for diamonds, are the same things.
Diamonds are measured per 200mg, which incrementally increases the carat of the diamond.
However, you most likely will come across the term ‘Carat’ in relation to gold, referring to the percentage of pure gold within an article, not the weight of the gold. Karat is a measure of the purity of gold in proportion to the total weight of impurities including alloyed metals. It is stamped on the gold and provides information about the type of gold and the percentage of pure gold that it contains.
You may see it abbreviated to these symbols: ct, K or kt.
Karat is measured and expressed using numbers 0-24. A higher -K number means that there is a higher percentage of gold present in the article. 24-Karat gold is the purest gold and contains no other metal.
How do I measure gold purity?
Measure the gold purity by dividing the number of Karats by 24. So, if you have bought a ring of 15kt gold, divide 15 by 24 and the answer is 0.625, which means that the ring contains 62.5% of pure gold.There are four common purity forms of gold: 9ct, 18ct, 22ct, and 24ct. The difference between these forms is the percentage of gold and other metals that they contain.
10 karat gold is made up of 41.7% gold and 58.3% alloy, or 10 out of 24 parts gold. 10 k gold is the least pure, least expensive and most durable form of gold used in jewellery. Although it’s widely used in earrings and affordable jewellery, 10k gold isn’t a very popular metal for engagement rings and fine jewellery.
What is 585 Gold?
You may also see a 585 stamp on your Gold jewellery. This marking is being seen more and more in the UK due to the increase in online shopping, as 585 markings are more common with jewellery made from US gold.
Since Carat measures purity in parts of 24, this means that 24-Karat is pure gold. 14k is 14 parts of gold to 10 parts of other metals. 14 Karat gold is then equivalent to 585 fineness and is often called 585-gold. 585 and 583 gold are both classified as 14-carat in the US.
585 markings distinguish an alloy which is 58.5% pure gold and since fineness is a measure of gold content in parts of a thousand, 999.999 being pure gold, 585 fineness is then 585 parts of gold to 415 parts of other metal – as a percentage it is 58.5% gold.
In the UK, jewellery is commonly made with 22, 18 and 9-carat gold. These are equivalent to 916, 750 and 375 fineness respectively. It is a legal requirement in the UK to hallmark all gold items over one (1) gram in weight with its purity of gold.
What is my gold worth?
9ct / K Gold Price per Gram :
9K gold contains the least amount of gold compared to other forms. It has only 37.50% pure gold and 62.50% other metals. The other metals could be silver, zinc, or platinum, etc.
375 hallmarked gold is comparatively harder, but that does not mean that it is more durable. Its harder material makes it less durable, so you need to keep that in mind before buying it.
18ct / K UK Gold Price per Gram :
18K gold contains 75% gold and 25% other materials like silver and copper. It is less hard than 9 kt gold and also more durable. Due to a higher percentage of pure gold, it is worth more than 9-k gold. Since it more durable, you can wear jewellery made of 18 kt gold regularly like a wedding ring or a necklace.
22ct / K UK Gold Price per Gram :
22K gold is purer than 18 kt gold and 9 kt gold. It contains 91.67% pure gold and 8.33% other metals. It is softer than 9 kt gold and 18 kt gold and to make it harder it is mixed with other alloys. It is also worth more than 9 kt gold and 18kt gold.
24 carat Gold Price per Gram :
24K gold is the purest form of gold. It contains 999.99% pure gold. It is softer than the other gold forms and is also pliable, so, therefore, is not used in making regular jewellery items. Coins and Gold bars are manufactured with fine gold, of which the purity is typically graded using a scale of millesimal fineness. (JM Bullion) 24 kt is the purest form of gold and is marked with 999, indicating a gold content of 999.9 parts per thousand.
Medical devices and electronics also use components made with fine gold. For example, older computers containing a modem and installed hard drive contain gold. Although time-consuming, it can be profitable to extract and recycle gold from devices such as cell phones, computers, camcorders, gaming consoles and circuit boards.
Gold Karat and equivalent fineness
|Karats||Parts of Gold||Purity (%)||Millesimal Finess|
|24K||24 / 24||91.7||999|
|22K||22 / 24||91.7||916 / 917|
|18K||18 / 24||75||750|
|14k||14 / 24||58.3||583 / 585|
|9K||9 / 24||37.5||375|
How is the gold price determined
The price of Gold is not easy to determine as the value changes every day. Many factors influence gold prices.
Supply and demand
Governments and large businesses influence gold prices alongside the world economy context. If the government or any large enterprise buys a considerable amount of gold, it could impact the gold prices daily. Like every other commodity, gold prices are also dependent on the supply and demand chain. If the demand is high and supply is low, then the gold value increases.
Fluctuating market could have a significant role in influencing gold prices. Economic crises can certainly lead to a higher price of gold, as we are seeing in 2020). Other factors that affect the market like political crises and natural disasters can also cause gold prices to increase and fluctuate.
If a country loses its currency value, it will also affect gold prices. Inflation and monetary policy are the two leading causes of currency depreciation.
How to sell scrap gold per gram
Typically when selling your unwanted jewellery or scraps that you have kept for a long time and wish to exchange for cash, a gold dealer will buy it at the current price by weight after which it will be sent on to a goldsmith for refining purposes.
Scrap gold has a vast market, but many people don’t understand the expression. Scrap gold is anything made of broken gold, such as unwanted jewellery or industrial by-products which are no longer of value in their current form.
If you wish to obtain today’s best UK value for your scrap gold, our live UK gold price per gram calculator provides the exact current value of your gold items depending on the Karat.
Price of gold depends on the current market conditions, so therefore you have to bear that in mind while ascertaining the value of your scrap gold. You will generally be given a quote that is less than what you have estimated, however, this depends upon the individual buyer. Different buyers can pay you different amounts.
It is vital to note that gold bars and gold coins have a premium value based on the precious metal price.
How is gold weighed and measured?
Before selling your gold, you first have to know its value to ensure that you are getting a fair scrap gold price, which can be determined by the scrap gold price per gram UK calculator.
To ascertain its value, it is necessary to understand how it is weighed and measured. The unit of measure for gold is a troy ounce and one troy ounce is equal to 31.1 grams.
You can also use another metric, referred to as pennyweight, to measure the weight of the gold. One pennyweight is equal to 1.55 grams. If you have a large amount of gold then you would be better off using a troy ounce metric to measure its weight.
The value of gold also depends on its purity, based on carats and form, as well as whether the gold is bullion or gold coin.
What is the gold spot price?
Gold Spot price is relevant when you are purchasing investment-grade gold, which can only be bought and sold in the form of Good Delivery gold bars, standardised and distributed in the UK by LBMA and distributed by members to private investors. Spot price means how much the gold bullion, usually an ounce or gram as a set quantity, is worth on the day of sale. The spot price is an industry indicator as to fluctuations in the value of gold, as well as a standard whereby buyers and dealers can set their prices.
However, there is more to consider than just the spot price when buying gold bars. Premium is expressed as a percentage amount over and above the value of the gold content. It is not common to see the premium when shopping for gold. Some forms of gold hold lower premiums than others, yet bullion coins often have higher premiums than gold bars.
The difference between the price you pay when buying gold and the return price when you sell it is called the ‘spread’. Another point to remember when investing in gold is the additional costs such as shipping, handling and hidden costs like credit card use etc.
Gold Price per Gram UK
Want to know the Gold Price per Gram? Use our online Gold Price calculator to calculate the price of the Gold Karat you would like to sell. Visit Hatton Garden for Instant cash!