According to GoldCalc.com, using the price of gold as of June 3, 2014 ($1,244 per ounce), 1 gram of 14 karat gold is worth $23.33. The price of gold varies depending on the state of the economy and supply and demand.
The karat unit of measurement is a form of measuring the purity of gold out of 24 parts. Therefore, 24 karat gold is 24/24 (99.95 percent or greater purity), 18 karat gold is 18/24 gold and 6/24 another metal, and so forth. Gold also has a long history as a monetary unit and investment resource. Investors often buy gold to diversify risk.