What is a troy ounce and how does it differ from a regular ounce?

A troy ounce (ozt) is the standard unit for precious metals and equals 31.1035 grams. A regular (avoirdupois) ounce is only 28.3495 grams — about 9% lighter. Always use troy ounces when looking up gold spot prices.

What does karat mean for gold purity?

24 karat gold is 99.9% pure gold. Lower karats contain alloy metals: 18K is 75% gold, 14K is 58.3% gold, 10K is 41.7% gold. The karat purity factor is applied to calculate the actual gold content from the total weight.

Where do I find the current gold spot price?

Spot prices are published in real time on financial sites such as Kitco, Bloomberg, or your broker's platform. The price fluctuates throughout trading hours. This calculator does not fetch live prices — you supply the current quote.

What is pennyweight (dwt)?

Pennyweight (dwt) is a unit used by jewelers in the United States. One pennyweight equals 1/20 of a troy ounce, or about 1.5552 grams. Jewelers often buy and sell scrap gold priced in dwt.

A tola is a traditional South Asian unit of mass equal to 11.6638 grams (exactly 3/8 of a troy ounce). It is widely used to quote gold prices in India, Pakistan, and the Gulf region.

Does the melt value equal what a dealer will pay me?

No. Dealers buy below melt value (typically 70–90% of spot) to cover their profit margin and refining costs. Use the markup/discount field to model the dealer's percentage and get a realistic offer estimate.

Gold Price by Weight Calculator

Enter the spot price per troy ounce and your gold weight to instantly calculate the melt value at any karat purity.

Gold Details

Spot Price (per troy oz, USD)

Weight

Karat Purity

Dealer Adjustment (optional)

Enter a spot price and weight to calculate the gold value.

Melt Value

$0.00

at 24K purity

Pure Gold Weight

0.00 g

99.99% pure

In Troy Ounces

0.000 ozt

pure gold

Spot per Gram

$0.00

pure gold

Unit Conversion Breakdown

Unit	Total Weight	Pure Gold	Value

Summary

Enter the spot price per troy ounce and your gold weight to instantly calculate the melt value at any karat purity.

How it works

Enter the current gold spot price per troy ounce in the Spot Price field.
Type the weight of your gold in the Weight field.
Select the weight unit: grams, troy ounces, pennyweights, or tolas.
Choose the karat purity of your gold (24K = 100% pure, 18K = 75% pure, etc.).
Read the calculated melt value, pure gold weight, and a full unit breakdown in the results panel.
Optionally apply a dealer markup or discount percentage to estimate buy/sell prices.

Use cases

Estimating the scrap value of old jewelry before selling.
Comparing dealer offers against the current spot price.
Calculating how much raw gold bullion is worth at a given karat.
Converting gold weight between grams, troy ounces, and pennyweights.
Planning a gold purchase and verifying the per-gram cost against spot.
Tracking portfolio value when you hold physical gold in different purity levels.
Helping jewelers price castings and findings based on live market prices.
Teaching students about precious-metal pricing and purity concepts.

Frequently Asked Questions

Last updated: 2026-09-19 · Reviewed by Nham Vu