Gold Value Calculator
Calculate the melt value of gold from its weight, karat purity and the current spot price. Free gold value calculator supporting grams, troy ounces, pennyweight and more.
Updated 2026-06-14 · Free · No sign-up · Runs privately in your browser
Show the formula & steps
Enter the current spot price yourself — this tool does not fetch live prices. Result is the intrinsic gold melt value before dealer fees or premiums.
How the Gold Value Calculator Works
Enter the weight of your gold (in grams, troy ounces, regular ounces, pennyweight or kilograms), choose its karat purity, and type in the current spot price per troy ounce. The calculator returns the melt value, the pure gold content, and the value per gram. It is the standard way to price scrap jewellery, coins and bullion.
The Formula
Value = weight in troy ounces × (karat ÷ 24) × spot price per troy ounce
There are three steps. First, convert the weight to troy ounces (1 troy oz = 31.1035 g). Second, find the purity fraction — karat divided by 24, so 18K = 18 ÷ 24 = 0.75. Third, multiply the pure gold content by the spot price.
Worked Example
Suppose you have 10 grams of 18K gold and the spot price is 2,350 USD per troy ounce:
- Weight in troy oz = 10 ÷ 31.1035 = 0.3215 ozt
- Purity fraction = 18 ÷ 24 = 0.75
- Pure gold content = 0.3215 × 0.75 = 0.2411 ozt
- Value = 0.2411 × 2,350 = ≈ 566.66 USD
Purity by Karat
| Karat | Gold purity | Fraction |
|---|---|---|
| 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 |
Why Knowing Gold Value Matters
The melt value is the floor for any gold transaction. When selling scrap jewellery you will typically be offered a percentage of this figure, so knowing it protects you from lowball offers. When buying bullion you can compare the premium over melt across dealers. Because the value moves with the daily spot price, recalculate whenever the market shifts before agreeing to a deal.
Frequently asked questions
How do I calculate the value of gold?+
Convert the weight to troy ounces, multiply by the purity fraction (karat ÷ 24), then multiply by the current spot price per troy ounce. For example, 10 grams of 18K gold at a 2,350 USD spot price is (10 ÷ 31.1035) × (18 ÷ 24) × 2,350 ≈ 567 USD of pure gold value.
What is the purity of gold by karat?+
Karat measures the fraction of pure gold out of 24 parts. 24K is pure gold (about 99.9%), 22K is 91.7%, 18K is 75.0%, 14K is 58.3% and 10K is 41.7%. Multiply your item's total weight by the karat fraction to find how much actual gold it contains before pricing it.
What is a troy ounce and why is gold priced in it?+
A troy ounce is the traditional unit for precious metals and equals about 31.1035 grams, heavier than the everyday avoirdupois ounce of 28.35 grams. Gold spot prices are quoted per troy ounce worldwide, so weights in grams or regular ounces must be converted to troy ounces before applying the price.
Why is my offer lower than the calculated melt value?+
This calculator shows the intrinsic melt value of the pure gold content at spot price. Dealers and pawn shops pay a percentage of that — often 70–90% for scrap — to cover refining, testing, overhead and profit. Knowing the melt value lets you judge whether an offer is fair.
Does this calculator use live gold prices?+
No. You enter the current spot price yourself, which keeps the tool accurate without depending on a live feed and lets you test different price scenarios. Look up the live gold price from a reputable source, type it into the spot-price field, and the value updates instantly.