price per ounce/gram...

[dthoreson81]

Id like to know if there is a simple formula that works to get the GOLD price per Karat of weight... :?: :?: :?: :?

E.G. price per gram for 14k gold at 4.5 grams...


IM PULLING (WHATS LEFT OF) MY HAIR OUT!!! HEEEEELLLLP!

:shock:

 

[Never_Evil]

Karat is your % of alloy compared to pure gold. Divide your small # by 24 and you will have your percentage. If you have 14k out of 24k your % of karat is 58.3333% gold.

To convert it from grams to troy ounces you must divide your total weight by 31.1 grams per troy ounce. With your numbers you would have .1447 troy ounce of 14k gold.

So if we mash it all together you have (.1447 ozt) X (58.3333% gold) = .0844 ozt of theoretical gold.

To find the value, take the mass of theoretical gold and multiply by the spot price.

(.0844 ozt) x ($952 per ozt) = $80.35 of theoretical gold


It seems like a long process, but after a few runs it will be second nature to know the value of scrap items.

 

[jimdoc]

Just use this;
http://www.dendritics.com/scales/metal-calc.asp

 

[Palladium]

Maybe this is what you might need ?