A Guide To Using Gold Calculator For Informed Choices

Date of Published: April 2, 2024

When it comes to selling gold the basic rule 101 is to know the right price for it. Gold is a great investment and a source of quick money. The price, however, fluctuates from time to time. Even though the general trend is bullish for most of the time, occasional drops are no stranger to it. This is often influenced by major events like political turmoil, war or incidents like the COVID-19 pandemic. A better approach would be to wait out such occurrences for the right time when the prices start rising. At Value Gold, they provide an advanced gold calculator for old gold or pledged gold. This lets you easily know the current value of your gold.

Gold Calculator and how it works

A gold calculator is an online feature on a website that lets you approximate the price of your gold right at the comfort of your home. All you need to know is how much your gold weighs and its purity. It estimates your jewellery’s price based on the market’s present gold valuation. Since it uses the live price value hence it requires active internet connection. 

But before getting ahead, how to estimate the purity of gold?

Gold purity could be easily determined from the number of Karats with the 24-karat gold having the highest (99 per cent) possible purity. However, it is not much used in Jewellery. The gold used in most jewellery works is the standard 22-karat. If you are pondering on its purity, don’t worry for there is a formula. It is the number of karats divided by 24 and multiplied by 100 (i.e., (karat/24 )x 100%). So, for a 22-karat gold, the purity could be (22/24) x 100 % and is equal to 91.66 per cent.

How to use the gold calculator at Value Gold?

At Value Gold, our advanced algorithm is one step ahead of others! It not only lets you calculate the price value of old gold but also pledged gold. For old gold, all you need to do is to input the weight in grams and the value of the karat. It will tabulate the value and return it to you. For pledged gold, you need to enter the name of your loan provider, the gross and net weights of the gold (in grams) and the loan amount. The tool would quickly return you the approximate value. In both cases, you need to provide simple deets like contact number and email address. This is needed for the authorities to contact you to guide you with the next step which is proceeding in actuality with the selling of gold and the releasing of the pledged gold.

Benefits of using a Gold Calculator

There are multiple benefits of using a gold Calculator:

Easy determination of the value of gold

With minimum information like the weight of your jewellery and the number of karats of gold, you can find out the price of your gold in real-time. You don’t need a single step outside your house.

Transparent Transactions

The purpose of the tool is to keep the buyer and the seller informed of the current market value for the piece of gold. This ensures better understanding and transparency in the business. A deal would be quickly worked out without the seller or the buyer harbouring the impression that the business could have been better!

Easy Investment

With the gold calculator at your disposal, investment is easier than ever! It ensures that you are appraised of the current market conditions, and the fluctuation and hence make an informed decision. 

Easy Comparison

The results of the gold calculator should not be treated as absolute as this only gives an estimation. The jewellery can have more impurities (especially the blended ones) and in that case, the correct valuation can only be done by physical testing. However, the tool helps you compare the market value with the calculated price and decide whether you are going to gain or lose in the deal. Thus, it is an unavoidable tool for any gold-related transactions.

Conclusion

Whether you are planning to sell gold or release pledged gold, having prior knowledge of the gold valuation is extremely helpful. A gold calculator tool from establishments like Value Gold can come in handy. By simply putting the weight and the karat you can estimate the worth of it in the current market scenario. This will always help you cut a better deal and have better returns.