This short article shows the 9ct Gold Price per gram and how you can calculate the current 9ct Gold Price at any given point in time.
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1: Current Bullion Gold Price Per Gram
|Gold||1618.400||07 Dec 2023|
|Silver||19.000||07 Dec 2023|
|Platinum||722.750||07 Dec 2023|
|Palladium||778.750||07 Dec 2023|
You can use the current Spot Price per ounce for gold, or the latest London Bullion Market association price as found on LBMA.
Let us assume that the current spot price is £1000 per troy ounce. We firstly need to convert the price into a price per gram.
We do this by dividing the Spot price by 31.1035.
£1000 / 31.1035 = £32.15 per gram
2: Calculating the 9ct Gold Bullion Value
9ct Gold is 37.5% pure. The spot price is for 999.99% pure gold. As such, to get the 9ct Gold Price per gram, all we need to do is multiply the spot price per gram calculated above with 37.5%.
£32.15 * 37.5% = £12.05 per gram
This means that the bullion value of 9ct gold is £12.05 per gram.
9ct Gold Price – Dealer Commissions
Dealers typically base the prices which they pay you for your gold on the above bullion value. The best paying gold buyers take less than 10% in commission. The worst paying gold buyers take in excess of 70% or 80% commissions.
Acceptable Price for 9ct Gold
Let us assume that you are looking to sell your 9ct gold to one of the better paying dealers. This dealer takes a 10% commission. This means that the dealer is paying you 90% of the bullion value.
£12.05 * 90% = £10.85 per gram
Goldealers Ltd would only ever recommend that you sell to dealers offering in excess of 90% of the bullion value for scrap gold. As such, the minimum we recommend that you accept when selling 9ct gold jewellery is £10.85 per gram.