Many people wonder how the gold price is calculated when they want to sell gold jewellery, coins or old heirlooms. The value of gold is determined by a combination of international market prices, purity, weight and the type of object.
The international gold price as a basis
The gold price starts with the international market. Gold is a globally traded precious metal and the rate changes constantly. Economic uncertainty, inflation and demand for precious metals all influence the price.
The importance of karats
Not every gold object consists of pure gold. That's why gold content is expressed in karats. 24 karat represents virtually pure gold. Jewellery is more commonly found in 18, 14 or 8 karat.
Weight per gram
Weight plays a decisive role. Gold is calculated per gram. A correct appraisal is always a combination of weight and purity.
Conclusion
The gold price is calculated based on the international rate, karats and weight. Check the current gold price or contact us for a free appraisal.
