Gold Price Calculator – Melt Value, Jewelry Pricing And Bullion Profit In One Tool
The Gold Price Calculator on MyTimeCalculator helps you work with gold the same way dealers, jewelers and investors do. Instead of a single number, it separates your calculations into melt value, jewelry price, bullion value and profit or loss. Each tab uses transparent formulas so you can see how purity, weight, spot price, making charges, wastage, tax and premiums build up to the final amount.
All formulas revolve around the same core idea: gold value is determined by how much pure gold you have and what the market is asking for one unit of that gold today. Everything else, such as making charges or premiums, is added on top of that core melt value.
Key Conversion: Grams And Troy Ounces
Gold is quoted in both grams and troy ounces. The calculator lets you work in either unit and converts behind the scenes so the formulas remain consistent.
Whenever you select a weight in ounces or a spot price per ounce, the calculator converts it into grams for internal calculations.
Gold Melt Value Formula
Melt value describes the raw intrinsic value of the gold content based purely on weight, purity and spot price. For karat gold, purity is expressed as a fraction of 24. For example, 24K is pure, 22K is 22/24 pure and 18K is 18/24 pure.
MeltValue = Weightg × SpotPriceper g × PurityFactor
Here, Weightg is gold weight in grams and SpotPriceper g is the market price of pure gold per gram. The calculator also computes the pure gold weight.
The melt tab focuses on these two values: the pure gold weight and its monetary equivalent at your chosen spot price.
Jewelry Gold Price Formulas
Jewelry pricing goes beyond melt value. Retail price must pay for the gold, the craftsmanship, expected wastage and applicable taxes. The jewelry tab breaks this into clear steps.
Metal cost
This is the same melt value formula but applied to the exact jewelry weight.
Wastage cost
Wastage represents the extra gold a workshop expects to consume or lose during manufacture. It is usually quoted as a percentage of metal value.
Making charge
Making charges pay for design, labor and workshop overhead. The calculator supports two common methods: a fixed amount per gram or a percentage of metal cost.
MakingCostpercent = MetalCost × MakingPercent ÷ 100
Tax amount and final jewelry price
Many regions add VAT or GST on top of the subtotal (metal + wastage + making). The final price is then the sum of everything.
TaxAmount = Subtotal × Tax% ÷ 100
JewelryPrice = Subtotal + TaxAmount
The calculator also outputs a price per gram for the finished jewelry.
Bullion Value And Premium Formulas
For coins and bars, the key question is usually how much their melt value is and how far above melt the market is willing to pay. Bullion is often quoted as a percentage premium over the melt value of its pure gold content.
Melt value for bullion
The melt formula is used again, usually with 24K or 22K purity for bullion products.
Premium and market value
Premium is a percentage that represents fabrication cost, branding, distribution and demand.
PremiumAmount = MarketValue − MeltValue
The bullion tab shows all three: melt value, market value and premium amount.
Profit or loss on bullion
If you enter a purchase price per gram, the calculator can estimate unrealized profit or loss based on the current market value.
ProfitOrLoss = MarketValue − PurchaseValue
Simple Profit / Loss Formulas For Any Gold Holding
The dedicated profit tab keeps things as simple as possible. You provide three numbers: weight in grams, purchase price per gram and current price per gram. The tool shows your absolute and percentage return.
CurrentValue = Weightg × CurrentPricePerGram
ProfitOrLoss = CurrentValue − PurchaseValue
Return% = ProfitOrLoss ÷ PurchaseValue × 100
The return can be positive or negative. A positive percentage indicates a gain; a negative percentage means a loss relative to your original purchase.
Using Per Ounce Or Per Gram Spot Prices
Market feeds often show a gold price per troy ounce. Calculations are easier in grams, so the calculator converts between the two automatically. The conversion factor is constant, so the formulas remain stable.
Weightg = Weightoz × 31.1034768
Once everything is expressed in grams, the same formulas for melt value, jewelry price and bullion value apply.
Practical Ways To Use This Gold Price Calculator
- Use the melt tab to compare scrap gold offers against the raw value of your gold content.
- Use the jewelry tab to see how much of a retail price is metal and how much is making, wastage and tax.
- Use the bullion tab to understand melt value, premium and your potential resale value for coins and bars.
- Use the profit tab to quickly see whether your gold investment is currently in profit or loss.
Gold Price Calculator FAQs
Frequently Asked Questions About Gold Melt And Jewelry Pricing
Explore how melt value, purity, making charges, wastage, premiums and tax interact inside this Gold Price Calculator.
The calculator supports common karat values such as 24K, 22K, 21K, 20K, 18K, 14K and 10K. Internally each karat is converted to a purity factor by dividing by 24, which is then used in the melt and jewelry formulas.
Yes. Each tab has its own spot price field so you can model different scenarios. For consistent analysis, you can also enter the same current market spot price in all tabs and change only purity, charges or premiums.
Jewelry prices include design, craftsmanship, expected wastage, shop overheads and taxes. Melt value only covers the raw gold content. The difference between the two numbers reflects the workmanship and business costs built into jewelry retail pricing.
The formulas still work mathematically, but the jewelry price will rise quickly. Very high wastage or making values are only realistic for highly intricate or heavy-design pieces. You can use this behavior to understand how much these parameters influence the final price.
The formulas are designed for gold, but in principle any metal with a known spot price and purity factor can be modeled. If you treat the purity input as a generic fineness and provide a spot price for silver or another metal, the numbers will still follow the same structure, even though the labels refer to gold.
The profit tab focuses on the difference between purchase price per gram and current price per gram. If your purchase price already included dealer premiums and taxes, they are implicitly counted. Selling fees are not included, so you should mentally allow for them if planning an actual sale.