Understanding Gold Purity and Value
Gold is a precious metal highly valued for its beauty, rarity, and industrial applications. However, pure gold (24 karat) is very soft and not ideal for jewelry or other durable uses. Therefore, it is often mixed with other metals, a process known as alloying, to increase its hardness, durability, and to achieve different colors. The purity of gold is measured in karats (K), where 24K represents pure gold. Other common purities include 18K (75% gold), 14K (58.3% gold), and 10K (41.7% gold).
The value of gold is primarily determined by its weight and its purity. Market prices for gold fluctuate daily based on global supply and demand, economic conditions, and geopolitical events. When selling or buying gold, understanding its weight and karat is crucial for determining a fair price.
This calculator helps you estimate the value of your gold based on its weight and purity, using the current market price per gram of pure gold.
function calculateGoldValue() {
var weight = parseFloat(document.getElementById("goldWeight").value);
var purity = parseFloat(document.getElementById("goldPurity").value);
var marketPricePerGram = parseFloat(document.getElementById("marketPricePerGram").value);
var resultElement = document.getElementById("result");
resultElement.innerHTML = ""; // Clear previous results
if (isNaN(weight) || isNaN(purity) || isNaN(marketPricePerGram) || weight <= 0 || marketPricePerGram <= 0) {
resultElement.innerHTML = "Please enter valid positive numbers for all fields.";
return;
}
var goldPercentage = purity / 24;
var pureGoldWeight = weight * goldPercentage;
var estimatedValue = pureGoldWeight * marketPricePerGram;
resultElement.innerHTML =
"
Estimated Gold Value: " + estimatedValue.toFixed(2) + "" +
"(Based on " + weight.toFixed(2) + " grams of " + purity + "K gold and a market price of " + marketPricePerGram.toFixed(2) + " per gram of pure gold)";
}
.gold-calculator-wrapper {
font-family: sans-serif;
border: 1px solid #ddd;
padding: 20px;
border-radius: 8px;
max-width: 700px;
margin: 20px auto;
background-color: #f9f9f9;
}
.gold-calculator-wrapper h2, .gold-calculator-wrapper h3 {
color: #333;
margin-bottom: 15px;
}
.calculator-form {
margin-top: 20px;
padding: 15px;
background-color: #fff;
border-radius: 5px;
box-shadow: 0 2px 4px rgba(0,0,0,0.1);
}
.form-group {
margin-bottom: 15px;
}
.form-group label {
display: block;
margin-bottom: 5px;
font-weight: bold;
color: #555;
}
.form-group input[type="number"],
.form-group select {
width: calc(100% – 12px);
padding: 8px;
border: 1px solid #ccc;
border-radius: 4px;
box-sizing: border-box;
}
.form-group select {
height: 38px;
}
.gold-calculator-wrapper button {
background-color: #4CAF50;
color: white;
padding: 10px 15px;
border: none;
border-radius: 4px;
cursor: pointer;
font-size: 16px;
margin-top: 10px;
}
.gold-calculator-wrapper button:hover {
background-color: #45a049;
}
#result {
margin-top: 20px;
padding: 10px;
background-color: #eef;
border-left: 4px solid #4CAF50;
border-radius: 4px;
}
#result p {
margin: 5px 0;
}