To get an accurate picture of how much your scrap gold is worth, obviously you need an up to date price.

As a traded commodity the price of gold fluctuates constantly, however all the gold buyers that we’ve come across so far base their price on the London Gold Fixing.

For our purposes we will update the price as published by the London Bullion Market Association, in Pound Sterling per Troy Ounce, and the equivalent values of the lesser carats based on that price.

Scrap Gold Prices – 25th July 2011

If you have weighed your gold in either grammes or imperial ounces (for example on the kitchen scales) you can find the equivalent prices broken down on the following pages:
Gold Price Per Gram
Gold Price Per Ounce

Remember these prices are equivalent to the prices gold bullion is traded for on the markets and represents the maximum value of your gold.

This doesn’t take into account the cost of turning your scrap gold into bullion or the profits of the gold buyers. 80-90% of this value is realistically the most you can expect to receive and personally I would view with suspicion any scrap gold buyer offering this value and higher (unless of course their website simply hasn’t been updated following a significant price change).

For help calculating the value of your gold, refer to our guide: “How much is my gold worth”

For an idea of which scrap gold buyers pay the most, we’re trying to keep track on our appropriately titled scrap gold buyers page, but obviously they all update their pages at different rates and some of their claims seem a little ‘unrealistic’ to say the least. Please always check for yourself before picking a scrap gold buyer. We’ll try to provide as much helpful information as we can from an independent perspective, but advise that you always conduct your own due diligence before sticking your belongings in the post.

Related posts:

1. More Gold Scrapped than Mined
2. Current Price of Gold
3. Gold Price per Ounce

One of the biggest areas of misunderstanding between gold buyers and their customers stems from the confusion between a troy ounce and a regular (imperial) ounce.

Traditionally all precious metals are weighed in troy ounces, and the Gold Price per Ounce you see advertised everywhere is also talking about a troy ounce.

So what’s the difference? The simple answer is about 10%
Officially 1oz of gold weighed on your kitchen scales equals 0.911458333 of a troy ounce.

To demonstrate the difference (and also to assist those of us without jewellers’ scales in calculating the value of our gold) we’ll present the latest gold prices twice daily below in both troy and imperial ounces.

Gold Price per Troy Ounce 2nd August 2011

Gold Price per Imperial Ounce 2nd August 2011

Remember, these prices are based on the London Fixed Daily prices as explained on our Current Gold Prices page. The prices are intended as a guide in the trading of gold on the commodities markets. You’re unlikely to reach these prices from gold buyers as they will obviously have to factor in a percentage for their profit and smelting costs.

Related posts:

1. Current Price of Gold
2. Scrap Gold Prices
3. Gold Party Survival Guide

To get an accurate picture of how much your gold is worth, obviously you need an up to date price.

As a traded commodity the price of gold fluctuates constantly, however all the gold buyers that we’ve come across so far base their price on the London Gold Fixing.

London gold prices are fixed twice a day at 1030am and 3pm London time by five members of the London Bullion Market Association. You can read more about the London Fixing over at Wikipedia.

For our purposes we will display the price in Pound Sterling per Troy Ounce as published by the London Bullion Market Association, and the equivalent values of the lesser carats based on that price.

Current Price of Gold – 2nd August 2011

Remember these prices are equivalent to the prices gold bullion is traded for on the markets and represents the maximum value of your gold.

This doesn’t take into account the cost of turning your scrap gold into bullion or the profits of the gold buyers. 80-90% of this value is realistically the most you can expect to receive and personally I would view with suspicion any goldbuyer offering this value and higher (unless of course their website simply hasn’t been updated following a significant price change).

For help calculating the value of your gold, refer to our guide: “How much is my gold worth”

If you have weighed your gold in either grammes or imperial ounces (for example on the kitchen scales) you can find the equivalent prices broken down on the following pages:
Gold Price Per Gram
Gold Price Per Ounce

Related posts:

1. Selling Gold – Guide to getting the best price
2. Gold Price per Ounce
3. Scrap Gold Prices