Gold Price Calculator
Find the real price of gold jewellery, coins or bars: the gold itself, making charges, tax and the all-in price per gram.
22K = 22/24 = 91.67% pure gold (hallmark 916).
Today’s rate from your jeweller or a live gold price site.
Many shops show a separate 22K or 18K rate. Pick “this purity” if you typed that rate.
Use the rate on your bill. It differs by country.
Leave blank to use the same tax rate.
Taken off the pure gold value when the shop buys gold back.
How your gold price is worked out
Pure gold × gold rate, plus making and other charges, plus tax.
- 1
Rate for your purity
120.00 × 22/24
= 110.00/g - 2
Value the gold
10 g × 110.00
= 1,100.00 - 3
Add making and extras
1,100.00 + 132.00
= 1,232.00 - 4
Add the tax
1,232.00 + 5% tax
= 1,293.60
Read more: the formula, a worked example, karat and weight tables, and buying tips
The formula
pure gold share = karat ÷ 24 (or fineness ÷ 1,000)
gold value = gold weight × pure gold share × rate for 24K
wastage = gold value × wastage %
making = gold value × making % (or per gram × weight, or flat)
before tax = gold value + wastage + making + other charges − discount
total = before tax + before tax × tax %
price per gram = total ÷ gold weight
sell-back = weight × pure gold share × rate × (1 − deduction %)
Stone weight is taken off the total weight first, so stones are never charged at the gold rate. If the rate you have is already for your purity (a “22K rate”), the gold value is simply weight × that rate.
Worked example
A 10 g chain in 22K gold, with 24K gold at 120 a gram, 12% making charges and 5% tax:
- Rate for 22K: 120 × 22 ÷ 24 = 110 a gram.
- Gold value: 10 g × 110 = 1,100.00.
- Making charges: 12% of 1,100 = 132.00.
- Before tax: 1,100 + 132 = 1,232.00.
- Tax: 5% of 1,232 = 61.60.
- Total: 1,232 + 61.60 = 1,293.60, or 1,293.60 ÷ 10 = 129.36 a gram all in.
The chain holds 10 × 22 ÷ 24 = 9.17 g of pure gold. You pay 193.60 (17.6%) above the gold value. If the shop buys it back with a 10% deduction, you get 1,100 × 0.9 = 990.
Karat, purity and hallmark
| Karat | Pure gold | Usual hallmark | Pure gold in 10 g |
|---|---|---|---|
| 24K | 100% | 999 | 10.00 g |
| 22K | 91.67% | 916 | 9.17 g |
| 21K | 87.5% | 875 | 8.75 g |
| 18K | 75% | 750 | 7.50 g |
| 14K | 58.33% | 585 | 5.83 g |
| 10K | 41.67% | 417 | 4.17 g |
| 9K | 37.5% | 375 | 3.75 g |
This calculator treats 24K as 100% pure. A hallmark is a little lower than the exact karat share (916 is 91.6%, not 91.67%); type the fineness in Advanced to use it exactly.
Gold weight units
| Unit | In grams | Used in |
|---|---|---|
| Tola | 11.6638 g | India, Pakistan, Nepal, the Gulf |
| Troy ounce | 31.1035 g | World gold prices, coins and bars |
| Sovereign (pavan) | 8 g | South India and Sri Lanka jewellery |
| Pennyweight (dwt) | 1.5552 g | US and UK jewellers |
| Kilogram | 1,000 g | Large bars (about 32.15 troy oz) |
Tips before you buy
- Ask for a written breakdown: weight, purity, rate, making, wastage, stones and tax on separate lines.
- Compare the all-in price per gram between shops, not just the making percent: a low making charge with a high rate or wastage can cost more.
- Ask how the shop buys gold back and what deduction it takes. Making charges and tax are usually lost when you sell.
- Check the hallmark stamped on the piece matches the purity on the bill.
For general information only. Gold rates move every day and tax on gold differs by country and by product (jewellery, coins or investment bars). Check the rate with your jeweller and the tax with your country’s tax authority.
Common questions
How do I calculate the price of gold jewellery?
Multiply the gold weight by the purity (karat ÷ 24) and by the rate for pure 24K gold. Add the making charges, any wastage, stones and other charges, then add the tax. 10 g of 22K gold at 120 a gram of 24K is 10 × 22/24 × 120 = 1,100. With 12% making (132) and 5% tax (61.60) the total is 1,293.60.
How much pure gold is in 22K, 18K or 14K?
22K is 22/24 = 91.67% pure gold (hallmarked 916), 18K is 75% (750), 14K is 58.33% (585) and 24K is pure gold (999). So a 10 g 18K chain holds 7.5 g of pure gold.
How many grams are in a tola, a troy ounce and a sovereign?
One tola is 11.6638 g, one troy ounce is 31.1035 g and one sovereign (pavan) is 8 g. A kilogram bar is 1,000 g, or about 32.15 troy ounces.
What are making charges and wastage?
Making charges pay for the work of turning gold into jewellery. Shops quote them as a percent of the gold value, an amount per gram or a flat price. Wastage (value addition) is extra gold weight charged at the gold rate for gold lost while making the piece. Plain coins and bars usually carry the lowest charges.
How much will I get if I sell my gold back?
Shops value old gold at its pure gold content times the day’s rate, then take off a deduction for melting and testing. 10 g of 22K at 120 a gram of 24K is worth 1,100; with a 10% deduction you get 990. Making charges and tax are usually not paid back.
Is tax charged on gold?
Many countries charge VAT, GST or sales tax on gold jewellery, and some treat investment bars and coins differently. Rates differ by country and change over time, so enter the rate shown on your bill or on your tax authority’s website.
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