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Gm Gram Gold 24k
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Frequently Asked Questions...
How the value of gold is calculated for gold with purity less than 24k.?
I just inquire about the rates for the gold in local jewelry shop and got the rates as 1175 per gm for 24K gold and 1155 for gold jewelry (the jewelery does not have any BIS or Carat mark on it. instead marked with percentage like 85% mostly.I am queries to find how exactly the rate is calculated.
Other rates the jeweler quoting are as below (per gram, for 18 aug 2008)
Pure gold 24K -1175
jewelery --1155
Replacement(Badla)-1145
Scrap (mod)--1135
Answer:
How would you know what it has been alloyed with and how much? If it quoted as Karat it must be assayed or hallmarked. The its value is calculated as so many 24ths. i.e. 22k=22/24 Otherwise you are buying a pig in a poke.



