value of 50 grams of 14K

[goldnugget77]

according to these 2 web sites the value of 50 grams of 14K is this

http://goldrefiningforum.com/goldpricelist.htm Noxx Gold Chart 50 grams of 14k 430
https://online.kitco.com/refining/index_refine.html Kitco buying price 50 grams of 14k 805

There is some kind of mistake here
Can someone help
Thanks

 

[Oz]

It is probably because you did not change the percent of spot at the top of the chart. I do not know what percent Kitco is paying but I would think 90% or better, but the default percent on Noxx’s calculator is set at 50% until you change it.

 

[goldnugget77]

Hi Oz
Now i get it.
Thanks

 

[goldnugget77]

14 karat gold is 14/24= 0.583; 58.3% pure gold

price of pure gold is $29,52

what is the formula for figuring out the value of
the price of 14K

 

[jimdoc]

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

 

[goldnugget77]

Hi jimdoc
Thanks for that link it is very good
It would be nice if i had a formula too
to figure out with a calculator
Thanks again

 

[Saminator]

It would be nice if i had a formula too
to figure out with a calculator
Thanks again

X = Karat of Gold
Y = Mass of Gold
Z = Spot Price
(X / 24) * (Z / 31.1035) * Y = Spot Value

Example:
50g of 14K at $917.40 USD spot
(14 / 24) * (917.4 / 31.1035) * 50 = $860.27

Hope this helps.

Sam

 

[goldnugget77]

Hi Saminator
That is very good
Thanks very much

 

[Ageo308]

Umm your forgetting something, no one (unless their drunk) will pay you spot for scrap gold.

If its pure then thats a different story.