How much is my gold worth? A guide for Sydneysiders

If you have got gold sitting in a drawer and you are wondering what it is worth, here is how to work it out.

What affects the price

Three things determine what your gold is worth: purity (karat), weight, and today's market price.

Purity is measured in karats. 24k is pure gold. 18k is 75% gold. 14k is 58.5% gold. 9k is 37.5% gold. Most jewellery in Australia is 9k or 18k.

Weight is measured in grams. The heavier your piece, the more gold it contains, the more it is worth.

Market price changes daily. Gold is traded globally and the price moves with supply, demand, and the economy. You can check the live gold price on any financial site.

How to estimate the value

Here is a rough guide. Take the weight in grams, multiply by the purity percentage, then multiply by the current gold price per gram.

For example: a 10-gram 18k chain. That is 10 x 0.75 = 7.5 grams of pure gold. If gold is $100 per gram, that is $750 worth of gold content.

A dealer will typically offer 70 to 90 percent of that amount, depending on the piece and the business.

What we do at Aussie Loan Office

We test purity using professional methods, weigh your gold on calibrated scales, and check the live spot price. You can watch the whole process. We base our offer on that data, not guesswork.

No appointment needed. Walk in, get a free valuation, and decide on the spot. No pressure either way.