How Much Is My Gold Worth And How Much Will You Pay Me?

Before we can inform our clients how much we can pay for their gold jewelry, we need to do research first. Don't worry our appraisals are free of charge! If you are looking to sell some of your gold jewelry, you should first find out what your scrap gold is worth. This way, you can maximize your return when you meet a professional gold buyer. Let's find out more about the three main factors that affect the value of gold:

The Purity of Your Gold

Gold jewelry is often marked in karats. In addition, these pieces will also be marked with a hallmark, which indicates the quality of the gold. Examples of karats:

• 10K refers to .417 gold or 41.7 percent gold.
• 14K refers to .583 gold or 58.3 percent gold.
• 18K refers to .750 gold or 75 percent gold.
• 24K refers to 1.00 gold or 100 percent gold.

When it comes to selling scrap gold to a reputable gold buyer, you can get approximately 75 percent of that item's value.

The Weight of Gold

Troy ounce is the standard measurement of the weight of gold. One troy ounce of gold represents about 1.1 regular ounces. Although you can weigh your jewelry on an ordinary kitchen scale, it is recommended that the weighing is done via highly calibrated, state-certified scales.

The Spot Gold Price

The spot gold price is continuously updating. It represents the price of gold in real time. The following factors cause gold prices to be in a constant state of flux. They include:

• Equity markets
• Jewelry demand
• Investment demand
• Deflation and inflation
• Currency markets
• Risk appetite/aversion
• Geopolitics
• Monetary policy
• Interest rates

At Global Gold and Silver, our gold payout chart is updated on a daily basis. It is updated in accordance to the London PM Gold Fixing.