Gold Price per Gram
The gold price fix of the day determines the price per gram of gold. Different Karat of gold have 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.
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9kt Gold Price per Gram :
- 9kt gold contains the least amount of gold than 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.
18kt Gold Price per Gram :
- 18kt gold contains 75% gold and 25% other materials like silver and copper. It is less hard than 9kt gold and also more durable. Due to a higher percentage of pure gold, it is more expensive than 9kt gold. You can wear jewellery made of 18kt gold regularly, like a wedding ring or a necklace.
22kt Gold Price per Gram :
- 22kt gold is purer than 18kt gold and 9kt gold. It contains 91.67% pure gold and 8.33% other metals. It is softer than 9kt gold and 18kt gold and to make it harder. Mixed with other alloys. It is also more expensive than 9kt gold and 18kt gold.
24kt Gold Price per Gram :
- 24kt gold is the purest form of gold. It contains 999.99% pure gold. It is softer than the other gold forms. It is also pliable and not used in making regular jewellery items. Coins and Bars and manufactured with fine gold. 24kt is the purest form of gold. Medical devices and electronics uses components made with fine gold.
How is the gold price determined?
Prices of Gold is not easy to determine and change every day. Many factors influence gold prices.
Supply and demand
Governments and large businesses can influence gold prices. If the government or any large enterprise buys a considerable amount of gold, it could impact the gold prices. Like every other commodity gold prices are also dependant on supply and demand chain. If the demand is high and supply is low, then gold price increases.
The fluctuating market could have a significant role in influencing gold prices. Economic crises can lead to higher price of gold. Other factors which affect the market like political crises, a natural disaster can also cause gold prices to increase.
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
Scrap gold has a vast market, but many people don’t know its right meaning. Scrap gold is anything made of broken gold or unwanted jewellery. So, if you want to sell your jewellery that you have kept for a long time, it will be sent to the goldsmith for refining purposes or a gold dealer will buy it as scrap gold. It is vital to note that gold bars & gold coins have a premium value based on the precious metal price.
Price of Gold depends on the market conditions, so you have to keep that in mind while valuing the scrap gold. You will always get less then what you have estimated, but it depends on the buyer, different buyers can pay you different amounts.
How is gold weighed and measured?
Before selling gold, you first need to know its value, to make sure that you are getting a fair scrap gold price, which can be determined by the gold price per gram. To determine its value, you need to know 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, pennyweight to measure its weight. One pennyweight is equal to 1.55 grams. If you have a large amount of gold, then you should use a troy ounce metric. Gold value also depends on its purity which is carats and form, and weather is gold bullion or gold coin.
What is Carat?
Carat or Karat is a measure of the purity of gold. It is stamped on the gold and gives information about the type of gold and the percentage of pure gold it contains. It is measured and expressed using numbers 0-24. Higher Carat number means that there is more percentage of gold. 24 Carat gold is the purest gold and contains no other metal.
To measure the gold purity, divide the number of Carats by 24. So, if you have bought a ring of 15ct gold, divide 15 by 24, the answer is 0.625, which means that the ring contains 62.5% 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 metal they contain.
Gold Price per Gram
Want to know the Gold Price per Gram? Use our online Gold Price calculator to calculate the price of any carat gold. Visit Hatton Garden for Instant cash!