Gold Price Calculator
What a piece of gold is worth by weight and karat, from the 24-karat rate.
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Formula
How the calculation works
Gold is quoted at 24 karats, but almost nothing sold in a shop is 24 karats. The piece is 22, 21 or 18, and its value is the 24-karat rate scaled by the karat number over 24. A 22-karat rate is therefore about 91.7% of the quoted rate, and an 18-karat rate is 75% of it.
The calculator returns the per-gram rate for the chosen karat as well as the total, so you can check the shop's working line by line rather than trusting one figure. The metal value it gives is not the price on the tag: a shop adds a making charge, and that is usually 10 to 20% on top.
Common mistakes
- Pricing a 21 or 18-karat piece at the 22-karat rate, which overstates it by up to a fifth.
- Confusing bhori with grams. One bhori is 11.664 grams, so a per-gram price multiplied by the wrong unit is out by more than an order of magnitude.
- Treating the metal value as the shop price and being surprised by the making charge.
When to use it
- Use it to sanity-check a quote before agreeing a price, or to value a piece you already own.
- It gives metal value only. For a resale figure, expect the buyer to apply a deduction for wear and for the making charge.
Worked example
One bhori (11.664 g) at a 13,500 rate: at 22 karat the gram is 12,375, so the piece is 144,341.50.
Common questions
The shop quotes 22 karat, so why is my piece 21?
Because not every piece is the same karat; bangles, chains and older ornaments are often 21 or 18. Pricing an 18-karat piece at the 22-karat rate overstates it by about a fifth, so confirm the karat first.
Where is the making charge?
This is the metal value only; a shop adds a making charge, usually 10-20%. Add that to the metal figure for the final price.
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