Q:

How do you find the value of one ounce of 24-karat gold?

A:

Quick Answer

One easy way of checking the up-to-date price of an ounce of 24-karat gold is to check the live gold price charts on websites specializing in trading precious metals such as Kitco.com. Gold prices are quoted in increments of troy ounces in 100 percent pure gold. Determining the price of an ounce of 24-karat gold simply involves searching for live gold prices, as 24 karats is the measure for pure gold, according to GoldPriceOz.com.

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Full Answer

The karat unit is used in measuring purity of gold in jewelry. Pure gold is too soft to make intricate jewelry, which is why it is often alloyed with other metals such as silver, copper or zinc, notes GoldPriceOz.com. A karat is equivalent to 1/24 parts in gold, which means that 10-karat gold has 41.7 percent gold content, 14 karats has 58.5 percent and 18 karats has 75 percent.

The following steps show how to check gold prices via the Kitco website.

  1. Go to the website
  2. Type www.kitco.com into the browser and press Enter.

  3. Check the prices
  4. The live spot gold prices are displayed on the Live Spot Gold panel on the left side of the home page.

  5. Check the gold charts
  6. To check the live spot gold charts, click on the Charts button on the Live Spot Gold panel.

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