How Much is 22kt Gold Worth
With our specially designed ‘How Much Is Gold Worth‘ calculator, you can quickly and easily figure out how much 22 karat gold is worth. Given the incredible rise in gold prices, the question ‘How Much is 22kt Gold Worth’ is the buzz word of the day if not the year! Gold investors have been piling into 22 karat gold bullion and taking profits accordingly. Top investors have made over 500% in the last decade and further rises are expected in the years to come.
Instant ‘How Much Is 22 Karat Gold Worth’ Calculator
How to Use The ‘How Much is 22kt Gold Worth’ Calculator
Simply enter the weight of gold in Troy Ounces or Grams. Be careful to choose the right unit otherwise you may be selling yourself short!
Next, look at the ‘Current Price of Gold’ box on the right hand side of the screen and enter the gold price into the form. Now just hit the ‘How Much Is Gold Worth’ button and get your instant quote.
If for example, you wish to calculate:
- How much is 1g of 22kt gold worth
Select ‘Grams’ & Enter ‘1’ in the ‘Quantity’ field.
- How much is 10g of 22kt gold worth
Select ‘Grams’ & Enter ‘10’ in the ‘Quantity’ field.
- How much is 100g of 22kt gold worth
Select ‘Grams’ & Enter ‘100’ in the ‘Quantity’ field.
- How much is 1kg of 22kt gold worth
Select ‘Grams’ & Enter ‘1000’ in the ‘Quantity’ field.
- How much is 1oz of 22kt gold worth
Select ‘Troy Ounces’ & Enter ‘1’ in the ‘Quantity’ field.
How to Calculate How Much 22 Karat Gold is Worth
In order to calculate how much 22 karat gold is worth, one must know:
- The weight of the gold bullion
- The purity of the gold bullion
Weight can be measured in grams but because precious metal prices are quoted in Troy Ounces, it is generally easier to work in these units of mass. 1 Troy Ounce is equal to 31.1034768 grams. Therefore:
To convert grams to Troy Ounces, use the formula:
Troy Ounces = Grams / 31.1034768
Purity is measured in Karats or Millesimal Fineness. Karats are a measure of gold purity where 24 karats represents 22 out of 24 parts gold. Thus 22 karat gold is 22/24 which equals .916 or 91.6% pure gold. Millesimal Fineness is a more accurate measurement of purity which is based on parts out of 1000. Thus 91.6% gold is a Millesimal Fineness purity of ’916′.
Therefore, the formula to calculate how much 22 karat gold is worth is
(Spot Price of Gold * Weight of Gold (Troy Ounces)) * (100/100)
22 Karat Gold Bullion
22 karat gold is 91.6% pure gold. Except for 24 karat gold, it is one of the purest forms of gold available. In most countries including the US, jewelry is rarely made from 22kt gold as it is too soft and not generally suitable for the purpose of everyday usage.
22 karat gold is generally used in the manufacture of gold bullion coins. Examples of these are the American Gold Eagle and the South African Krugerrand.
Such bullion may be marked 22 karat or ‘916’ which is a value based on the millesimal fineness scale and indicates 916 parts gold out of a 1000 i.e. 91.6%.