Gold Price Calculator — 24K, 22K, 18K Gold Value by Weight
Calculate the value of your gold jewelry or coins by karat and weight. Covers 24K, 22K, 18K, and 14K gold with current pricing formulas and making charges.
Whether you are buying gold jewelry, selling old ornaments, or investing in gold coins, knowing how to calculate the value of gold by weight and purity is essential. Jewelers use formulas that are straightforward once you understand karats and making charges. The CalcHub Gold Calculator computes gold value instantly.
The Formula
Gold Value = Weight (grams) x Purity Factor x Gold Price per GramThe purity factor depends on the karat:
| Karat | Purity | Gold Content |
|---|---|---|
| 24K | 99.9% | 1.000 |
| 22K | 91.7% | 0.917 |
| 18K | 75.0% | 0.750 |
| 14K | 58.3% | 0.583 |
| 10K | 41.7% | 0.417 |
| 9K | 37.5% | 0.375 |
Worked Example 1 — 22K Gold Chain
You have a 22K gold chain weighing 15 grams. The current 24K gold price is $85 per gram.
Gold value = 15 x 0.917 x $85 = $1,169.18
This is the melt value — what the gold content alone is worth.
Worked Example 2 — 18K Gold Ring
An 18K ring weighs 8 grams. At $85 per gram for pure gold:
Gold value = 8 x 0.750 x $85 = $510.00
Worked Example 3 — Selling Old Jewelry
A jeweler offers to buy your 22K bangles (total 40 grams) at $82 per gram for 24K gold:
Gold value = 40 x 0.917 x $82 = $3,007.72
Jewelers typically deduct 5-15% for melting and refining, so expect an offer around $2,550-$2,857.
Gold Price Per Gram by Karat (at $85/g for 24K)
| Weight | 24K Value | 22K Value | 18K Value | 14K Value |
|---|---|---|---|---|
| 1 gram | $85.00 | $77.95 | $63.75 | $49.56 |
| 2 grams | $170.00 | $155.89 | $127.50 | $99.11 |
| 5 grams | $425.00 | $389.73 | $318.75 | $247.78 |
| 10 grams | $850.00 | $779.45 | $637.50 | $495.55 |
| 20 grams | $1,700.00 | $1,558.90 | $1,275.00 | $991.10 |
| 50 grams | $4,250.00 | $3,897.25 | $3,187.50 | $2,477.75 |
| 100 grams | $8,500.00 | $7,794.50 | $6,375.00 | $4,955.50 |
Understanding Making Charges
When buying gold jewelry, you pay more than the gold value because of making charges:
Total Price = Gold Value + Making Charges + GST (if applicable)Making charges vary by complexity:
- Machine-made chains: 5-12% of gold value
- Handcrafted bangles: 10-20%
- Studded rings: 15-25%
- Intricate temple jewelry: 20-35%
When selling, you typically recover only the gold melt value, not the making charges. This is why gold jewelry is not purely an investment — you lose the making charges on resale.
Practical Use Cases
Buying jewelry: A jeweler shows you a 22K necklace weighing 30 grams with 12% making charges. Gold value: 30 x 0.917 x $85 = $2,338. Making charges: $280. Total before tax: $2,618. You can verify this independently. Selling gold: Before visiting a gold buyer, calculate the melt value yourself. If they offer significantly less than 90% of melt value, shop around. Gold coins and bars: These are sold at a small premium (2-5%) over spot price and carry no making charges, making them better for pure investment.What is the difference between karat and carat?
Karat (K) measures gold purity — 24K is pure gold. Carat (ct) measures gemstone weight — 1 carat = 0.2 grams. In some countries, both are spelled "carat," which causes confusion.
Is 24K gold used for jewelry?
Rarely. 24K gold is too soft for daily-wear jewelry. Most jewelry is 22K (India, Middle East), 18K (Europe, luxury brands), or 14K (US standard). The alloyed metals add durability and color.
How do I verify gold purity?
Look for hallmarks stamped on the piece (916 = 22K, 750 = 18K, 585 = 14K). A BIS hallmark in India or an assay office mark in the UK provides official certification. For high-value purchases, get an independent assay.
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