Gold & Silver Spot Value Calculator
Value a gold or silver holding at the current spot price, adjusting for weight, unit and purity (karat or fineness).
How it works
Fine ounces = weight × unit-to-troy-oz × purity% · Melt value = spot price × fine ounces (1 troy oz = 31.1035 g)
The intrinsic (melt) value of bullion or jewellery is the amount of pure metal it contains times the spot price. Convert the weight to troy ounces — the standard unit for precious metals — then multiply by the purity to strip out alloy metals. A 22-karat piece is only 91.6% gold, so its melt value is well below its gross weight at spot.
Worked example
Ten troy ounces of 99.9% pure gold at a $2,000 spot price contains 10 × 0.999 = 9.99 fine ounces, worth 9.99 × $2,000 = $19,980.
Frequently asked questions
What does spot price mean?
The spot price is the quoted market price for immediate delivery of one troy ounce of pure metal. Dealers add a premium over spot when you buy and pay under spot when you sell.
How do I convert karats to purity?
Divide the karat number by 24: 24K is 100% pure, 22K is 22 ÷ 24 = 91.6%, 18K is 75.0% and 14K is 58.3%. Enter that percentage as the purity.
Is melt value what I will get when I sell?
No — melt value is the raw metal value. A dealer typically pays a bit below spot, and numismatic or jewellery pieces can be worth more than melt because of craftsmanship or collectability.
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Educational estimate, not investment advice. Trading forex, futures and options carries substantial risk of loss.