How To Calculate The Resale Value of Old Gold Jewellery?
How gold jewellery Resale Value calculator of Old Gold calculated by gold buyers –
Very simple formula to calculate the Resale Value calculator of Old Gold
- Take it to a Gold testing or assaying lab & have it tested for purity.
- The lab will give you a test report which will state the accurate weight of the sample & its purity in percentage or karats.
- If you are using the karat purity
Value of Gold in the sample = (Weight of Gold x Purity of Gold x Rate of Gold today) / 24
- If you are using percentage purity
Value of Gold in the sample = (Weight of Gold x Purity of Gold x Rate of Gold today) / 100
- Example, let’s say the sample weighed 1 gram with a purity of 22 Karats (91.6%) & rate of gold today is ₹ 5,100 per gram
Value of Gold Today (using percentage purity) = 1 x 91.6% x 5,100 = ₹ 4671.60 only
- To get the latest Gold/Silver/Platinum price visit : Old gold rate in Chennai