Gold Spot Price Calculator
Calculate the intrinsic value of your gold based on live market spot prices.
*Calculation based on pure gold content. Market premiums or dealer spreads not included.
How to Calculate Gold Spot Value
Understanding the "spot price" of gold is essential for investors, collectors, and anyone looking to sell jewelry. The spot price refers to the current market price at which one troy ounce of 24-karat gold can be bought or sold for immediate delivery.
To calculate the value of a specific gold item, you must account for three variables: the current market spot price, the weight of the item, and the purity of the metal. Most jewelry is not pure gold (24K) but rather an alloy mixed with other metals like copper or silver to increase durability.
The Gold Purity Formula
Gold purity is measured in Karats (K). To find the decimal percentage of gold in your item, divide the karat by 24:
- 18K Gold: 18 / 24 = 0.75 (75% pure)
- 14K Gold: 14 / 24 = 0.5833 (58.3% pure)
- 10K Gold: 10 / 24 = 0.4167 (41.7% pure)
Common Weight Conversions
In the precious metals industry, the Troy Ounce is the standard unit, which is different from a standard kitchen ounce. One troy ounce equals approximately 31.1035 grams.
| Unit | Conversion to Troy Ounces |
|---|---|
| 1 Gram | 0.03215 oz t |
| 1 Pennyweight (dwt) | 0.05 oz t |
| 1 Kilogram | 32.1507 oz t |
Real-World Calculation Example
Imagine you have a 14K gold ring that weighs 10 grams, and the current gold spot price is $2,000 per troy ounce.
- Convert weight to Troy Ounces: 10g / 31.1035 = 0.3215 oz t
- Adjust for purity: 14K / 24 = 0.5833
- Calculate total: (0.3215 oz t) × (0.5833 purity) × ($2,000 spot) = $375.06
This result is the "melt value"—the raw value of the gold content. If you are selling to a jeweler or refiner, expect to receive 70% to 95% of this value, as they must account for refining costs and profit margins.