What Is The Price Of 24K Gold Today?

February 05, 2020 - Jewelry & Luxury Items

Roughly 78% of workers in the United States are reportedly living paycheck to paycheck.

Each paycheck is split between the rent/mortgage, the utility bills, the kids, and the sales found at the local grocery store.

Unfortunately, there are those occasions when life also happens, and this 78% runs into more expenses than money. You know what we mean. The water heater breaks down, or a car tire goes flat beyond repair, or a child breaks his arm trying to reenact a scene from Spider-man.

For those that can relate to these types of scenarios, then you’ve at some point wondered where you can get your hands on some extra cash. Then you thought about some of the gold jewelry you have and how much you can get for it.  

Luckily for you, we can help provide you some insight on if you have some gold worth selling in order to help you when life happens. Keep reading and we’ll explain the 24k gold price today.

What Are Karats?

Generally speaking, when people talk about gold they do so in terms of karats, the ancient unit used to describe the purity of gold alloys. The most frequent karat measurements used for gold are 24k, 22k, 18k, 14, 10k, and 6k. The key one to remember is 24k, because that number typically represents pure gold.

Any gold item less than 24 karats, is mixed with a bit of silver, copper, or some other metal.

24k Gold Price Today

The price of pure gold is one of those things that fluctuate daily, up to the minute. Over the past three months, the average fixed price of gold has been $1303.79 per ounce.

Now before you get too excited, let us once again emphasize that this price per ounce is for pure gold. So if you’re contemplating pawning jewelry that’s perhaps 14k, it will be a fraction of the $1303.79 per ounce.

To give you a better idea for that value of the 14k gold watch you got three Christmases ago, 14k gold per gram is worth about $24.24.

How to Calculate Your Gold Items

There are several methods you can use to test the value of your gold. There are a number of testing kits you could purchase to get an idea of how much money you stand to gain. For example, there are acid gold testing kits, electronic gold testing kits, and touchstone gold testing kits that you can buy to help determine your items’ value.

We Get You’re Trying to Make Money, Not Spend It

Since the purpose of you looking to sell your gold is to make money and not lose it, you can look up resources online and calculate a rough estimate for the value of your gold items.

Now if you don’t want to spend time doing that, feel free to contact us. We’ll definitely let you know the 24k gold price today.

In fact, we’ll let you know how much money you can stand to make with your items regardless of the karats.

David Stiebel

David Stiebel is one of the cofounders of PawnGuru. David was educated at MIT, where he studied Math. He subsequently worked at Bain as a data scientist before starting PawnGuru in 2015. He started PawnGuru to build a better tool for pawn shops and consumers to connect.

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