Investing in Precious Metals
Commodity Index
Gold & Silver Calculator
Determine the intrinsic value of your bullion or jewelry based on live spot prices and metal purity.
Step 1
Enter the current Spot Price per ounce.
Step 2
Input the Weight of your metal.
Step 3
Select Purity (24k, 22k, 18k, etc.).
Value = (Weight / 31.1035) * Spot Price * (Karat / 24)
Note: 31.1035g = 1 Troy Ounce
Frequently Asked Questions
What is the difference between a Troy Ounce and a Standard Ounce?
A "standard" (avoirdupois) ounce commonly used in the kitchen weighs exactly 28.3495 grams. Precious metals, however, are measured in Troy Ounces, which weigh 31.1035 grams. If you weigh gold on a standard kitchen scale, you must use our calculator's "Gram" input, or you will miscalculate its value.
What does "Karat" (k) mean in gold?
Karat measures the purity of gold on a scale of 1 to 24. 24k gold is 99.9% pure. Because pure gold is very soft, jewelry is often mixed with other metals (like copper or silver) to increase durability. 18k gold is 18 parts gold, 6 parts alloy (75% pure). 14k gold is 58.3% pure.
Will a jeweler pay me the exact "Spot Price"?
No. The Spot Price is the raw market value of the metal. If you are selling scrap jewelry to a dealer or pawn shop, they will typically pay you below the spot price (often 70% to 80%) to cover their refining costs and profit margins. Our calculator shows the absolute intrinsic value to help you negotiate a fair price.