- Personal Finance
What is the Current Price of 18k Gold
The best way to calculate the value of 18k gold is to download the Live Gold Price App to your Iphone or Android but for those who want the blow by blow here is everything you need below!
18k gold is pure gold mixed with other metals (silver, copper, nickel for example). It is used primarily in jewelry. Pure gold is often too soft to use as jewelry , so that your ring or bracelet keeps its shape this is why other metals are included.
Because 18k gold is not pure gold it can be a little bit complicated to work out exactly how much your jewelry item is worth.
How You Can Work Out the Current Price of 18k Gold
Pure gold is 24 karat. So the percentage of pure gold in 18k gold is 18/24= 75% pure gold.
To work out the value of 18k - get the current price of gold per ounce (currently around $1300) and multiply it by 0.75.
1300 x0.75 = $975 per troy ounce
To work out the Current Price of 18k Gold in Grams
The gold price live is always given for one troy ounce. One troy ounce contains 31.1.03768 grams.
To work out the price of 18k gold in grams just divide your price per ounce by 31.1034768
975/31.1.034768 = $31.34
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