Gold Price Calculator
Calculate gold melt value from weight, karat and spot price.
Works in grams, troy ounces or tolas, and shows the 60-80% scrap range a dealer pays.
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Gold value calculation converts a given weight of gold into its market value based on the current spot price, purity (karat), and the appropriate weight unit (troy ounce, gram, or kilogram). Because gold purity varies enormously, the karat conversion is the most critical step.
Core formula: Value = Weight (troy oz) × Purity Factor × Spot Price (per troy oz)
Karat to purity factor: Purity = Karat ÷ 24
Where:
- 24 karat = pure gold (purity factor 1.000). Refiners describe this as 99.9% fine, since absolute purity is not achievable in practice, and the calculator uses 24/24 = 1.000.
- 22 karat = 91.67% gold (purity 0.9167)
- 18 karat = 75% gold (purity 0.7500)
- 14 karat = 58.33% gold (purity 0.5833)
- 10 karat = 41.67% gold (purity 0.4167)
Weight conversion (critical, because gold uses troy ounces and not the avoirdupois ounces on a kitchen scale): 1 troy ounce = 31.1035 grams 1 avoirdupois ounce = 28.3495 grams (do NOT use this for gold) Grams to troy oz = Grams ÷ 31.1035
Full formula: Value = (Weight in grams ÷ 31.1035) × (Karat ÷ 24) × Spot Price
What each variable means:
- Spot price is the current global market price for 1 troy ounce of 24-karat gold, and it moves continuously on trading days. Look it up before you calculate, because a figure from last month can be off by hundreds of dollars an ounce.
- Melt value is the intrinsic metal value only. It ignores craftsmanship, brand, and any stones set into the piece.
- Scrap value vs. retail is the gap that surprises people. Jewelers and pawn shops buy scrap at roughly 60–80% of melt, and retail jewelry sells at 2–3× melt once labor and markup are added.
Rough spot-price history, for context on how fast this number moves:
| Year | Approximate spot price |
|---|---|
| 2020 | $1,800/troy oz |
| 2022 | $1,900/troy oz |
| 2023 | $1,980/troy oz |
| 2024 | $2,000–$2,400/troy oz |
| 2025 | $2,900–$3,300/troy oz |
These are annual averages and ranges, not quotes. Use a live price in the calculator.
Worked example: 18-karat gold chain, weight: 28 grams. Gold spot price: $2,300/troy oz.
- Troy ounces = 28 ÷ 31.1035 = 0.9002 troy oz
- Purity = 18 ÷ 24 = 0.75
- Melt value = 0.9002 × 0.75 × $2,300 = 0.9002 × $1,725 = $1,553
- Scrap offer at 70% of melt: about $1,087 from a typical dealer
- Retail replacement cost at 2 to 3 times melt: roughly $3,100 to $4,700 at a jewelry store
That last pair of lines is the part worth remembering. The number this calculator prints is melt value, which is what the metal is worth, not what anyone will hand you across a counter.
One thing that catches people out
A tola is not a metric unit and it is not the same everywhere. The calculator uses the Indian and Pakistani standard of 11.6638 grams, which is what jewellers in South Asia and the Gulf quote. Some older Nepali and Burmese usage differs. If your receipt disagrees with the gram figure below the result, that is why.
How we build and check this calculator
This calculator runs entirely in your browser, so the numbers you enter stay on your device. The math behind it is written by hand and tested against worked examples and standard references before the page goes live.
SuperGlobalCalculator is independently built and maintained. See how we build and verify our calculators.