There is a lot more to selling your gold than just knowing what the gold is worth. You also have to understand the investment terms and definitions that are used when selling your gold. This understanding will not only make the process run more smoothly, but it will also help to ensure that you receive the type of money that you want for your gold.
Gold Price Percentages
The purity of gold jewelry plays a significant role in determining how much gold is actually in the jewelry itself. Since purity affects gold weight, the gold price for items with higher purity gold is typically more expensive. The following chart shows how much gold is in gold jewelry with varying purities:
Purity of 10K Gold 20K Gold 14K Gold 24K Gold
1T 1g 24g 180g 14.033g
Purity of 14K Gold 20K Gold 24K Gold
1T 1g 14.033g 14.032g
Purity of 18K Gold 22K Gold
1T 1g 17.931g
500 Gms 1 kg 1 kg 2 kg 5 kg 10 kg
00 XAU 573.82 XAU 1257.60 XAU 1550.00 XAU 2460.00 XAU 7200.98 XAU
You may have heard some of these terms being thrown around people talking about investing, but do you really understand what these terms actually mean? Taking the time to learn about investment terms and definitions can be very important and very helpful for future investing. Just as important as understanding what the terms mean, is knowing where these terms can actually be applied in the financial world. The next time you hear them mentioned or see them on a website or on paper, you’ll be able to more fully grasp their meaning and their application!
If you’d like to delve a bit more into mutual funds and the different kinds of funds that are available, be sure to check out our article How To Break Down Mutual Funds And Choose The Right One. And if you’re interested in more articles and information about the stock market, and in particular companies like Apple, you may be interested in Learning How To Track Your Stocks On The First Day Of The Month.