1. What is the 14k Gold Price Formula?

The 14k gold price formula calculates the value of scrap gold based on its weight, current spot price, and a refining factor. Since 14k gold is 58.3% pure gold (14/24), the formula accounts for this purity in the calculation.

2. How Does the Calculator Work?

The calculator uses the following equation:

Where:

• \( Weight \) — Weight of the gold in grams
• \( \frac{14}{24} \) — Purity factor for 14k gold (58.3%)
• \( Spot \) — Current spot price of gold per gram
• \( Factor \) — Refining/market adjustment factor (typically 0.8-0.9)

Explanation: The equation accounts for the actual gold content in 14k items and applies market-specific adjustment factors.

3. Importance of Accurate Calculation

Details: Accurate gold price calculation is crucial for fair transactions when selling scrap gold, evaluating jewelry value, or making investment decisions.

4. Using the Calculator

Tips: Enter weight in grams, current spot price in your local currency per gram, and a factor (typically 0.85 for most refiners). All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: Why is the factor less than 1?
A: The factor accounts for refining costs, dealer margins, and market conditions. It typically ranges between 80-90% of the pure gold value.

Q2: How do I find the current spot price?
A: Check financial news websites, commodity exchanges, or your local bullion dealer for current gold prices per gram.

Q3: Does this work for other gold purities?
A: For different purities, change the 14/24 fraction (e.g., 18k would be 18/24 or 0.75).

Q4: Should I weigh jewelry before or after removing stones?
A: Always weigh only the gold components. Non-gold elements like stones or base metals should be removed first.

Q5: How accurate is this calculation?
A: This provides an estimate. Actual offers may vary based on dealer policies, item condition, and market conditions at time of sale.