How much gold per gram? How to buy gold?
How much gold per gram? this term dominates more than four thousand searches a month in Google since you write how much gold, hence will be suggested search references by google with several options, one of them is how much gold per gram.
Maybe even almost everyone already knows Gold as a valuable asset.
What causes gold to become a valuable asset we have explained in previous writings, where one of them is the economic value of gold and the chemical content that is in it.
In jewelry stores, this gold seller sells by using units per gram, so what is the value of one gram of gold against a currency that is a way of making transactions easy.
So that everyone can easily buy gold with the smallest value per gram, if they don’t have a lot of money it will be difficult if gold is sold only per ounce.
Then how to measure gold per gram?
In this article, we will discuss how much gold per gram.
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How to measure the purity of gold?
When you go to a jewelry store to buy or order a gold wedding ring, maybe the seller will ask you, how much Karat level in gold you want to buy
This Karat level determines the price of gold jewelry.
Karat is a unit for measuring the level of purity of gold. Karat is different from the unit of weight.
The level of purity of gold has several levels, from 8-24 Karat.
Gold with 24 Karat content is 100% pure gold without any other mixture in it.
The higher the level of purity, the price will be more expensive.
“Karat” with “carat” may be a bit confusing, but actually it has different usage.
Carat is to measure the weight and precious stones, while Karat is to measure the purity of the gold contained therein.
Usually in each country has a minimum standard level of “Karat” in gold which may be different from other countries.
In the US 10k is the minimum standard that applies with the most popular 14k.
In France, Italy, and Switzerland, the lowest standard is 18k.
Britain has a minimum gold standard of 9k, while in some countries in the world, 8k is the legal minimum standard.
Karat Gold value, Millesimal fineness
- 24 K means that it has a pure gold contains 99.00% – 99.99%.
- 23 K means pure gold contains 94.80% – 98.89%.
- 22 K means pure gold contains 90.60% -. 94.79%.
- 21 K means pure gold contains is 86.50% – 90.59%.
- 20 K means pure gold contains 82.30% – 86.49%.
- 19 K means pure gold contains 78.20% – 82.29%.
- 18 K means pure gold contains 75.40% -. 78.19%.
- 14 K means pure gold contains 58.3% – 41.7%.
- 10 K means pure gold contains 41.7% – 58.3%.
So for example, 23k gold means the level of purity is 23/24 X 100% or around 95.8%
And 22k gold weighing 15 grams, the pure gold contains 22/24 x 15 = 13.75 grams.
How to measure the weight of gold?
To measure the weight of gold, it requires a weight gauge, which can measure up to the smallest unit in milligrams.
For this purpose, the weight of gold can be measured using a tool called a sheet balance or a gold scale.
This tool is used to determine the weight of gold.
This balance sheet has units of grams or kilograms so it is very easy to use.
There are two types of balance sheets that are often used to weigh gold, namely the arm sleeve scale and the digital gold scale.
Arm sleeve Scale
This scales tool in the form of a balance that is equipped with arms.
This balance sheet is used to weigh the mass of precious metals.
This tool is often placed in a cabinet because the measurement of the mass of gold required very high accuracy to the order of milligrams.
That is why so that the writing of grams on gold jewelry up to 3 digits behind the comma or three digits in milligrams in units of weight under one gram.
To measure accurately, the gold balance must be free from all disturbances.
If we pay attention, the construction of the equilateral balance used to weigh gold is very vulnerable to the influence of the wind.
Including the breath of the officer who measured the gold.
Therefore, the balance to measure gold is always in the glass cabinet.
Digital Gold Scale
This type of instrument for measuring the weight of gold is better than the first tool above.
As the name implies, this gold scales device is equipped with a digital display to express the mass of gold that measured.
Many people using a digital scale because the measurement is more accurate.
This tool is very easy to use, has accuracy up to 0.001 mg, and measuring capacities ranging from 1.2 grams to 23,000 grams.
In determining the gold content, every milligram is very valuable, therefore the accuracy of 0.001 mg is important.
Testing for gold at home
When you go to buy gold, of course, you don’t want to get fake gold.
Especially if you buy from people or stores that do not have certificates, then you might get fake gold.
How to avoid this fake gold? How do you know if this gold is real or fake?
To find out the gold you buy, you can do a gold test at home, with some of the tips explained below.
If you have nitric acid at home, you can use an acid test to test the purity of gold.
Real gold will not be damaged when you do the nitric acid test, but other metals will be damaged in this way.
Make a small mark on the gold piece to penetrate the surface.
Drop a little liquid nitric acid into the scratch and wait for the chemical reaction.
Fake gold will immediately change the color of nitric acid to green.
Silver gold will be the color of milk.
Gold will not react to nitric acid.
The desired result is a drop of a clear liquid that does not change color.
The nature of real gold will not attract magnets.
Gold purity testing using magnets is the easiest method because you can carry it in your pocket.
Fake gold when close to a magnet, the magnet will attract the metal.
Even coins can have the appearance of gold, and with magnets, it will reveal the underlying metal.
But there are some other non-magnetic metals, so the accuracy of the magnetic test cannot be one hundred percent correct.
Using the Floating Test
To do this floating test you only need a cup of water that you need for a real or fake gold test.
Real gold, regardless of weight, will sink to the bottom of the liquid.
Fake gold floats in the middle of the water, other than that, real gold will not rust or change color when wet.
Real gold does not react to the skin if you have heard changes in skin color because using fake gold is not a myth.
To do this test, you only need to hold gold in your hands for a few minutes.
Sweat on the skin creates a chemical reaction with gold.
The skin will change color (black or green) if the gold is not authentic.
Real gold will not react with the skin, it will not change color because of it.
Bite in gold
Gold is a soft metal, it is easily shaped.
The higher the Karat content, the softer the gold.
The character of this gold you can make tricks for determining the authenticity of gold.
You do this by biting into the gold.
If there are bite marks left, then chances are that the gold is real.
Conversely, if it’s really hard and there are no marks, it could be fake.
Scratch on ceramic or paper
Another way is to scratch gold on ceramics or paper.
Real gold won’t leave a trace if it’s etched on paper or ceramics.
As with other metals that will leave a scratch.
But using the method is quite risky because it can damage gold.
The method above is for a gold test at home, to make sure you can go to a certified consultant for further testing that reveals the weight and purity of real gold.
How to buy gold?
You have understood how much gold per gram, taking into account the value of Karat in gold compared to the gold weight.
Now maybe you become interested in how to buy gold.
Nowadays gold shops are everywhere, you can easily get gold by going to jewelry stores near your home.
But if you have the interest to buy gold online, there are several sites that are recommendations.
In Malaysia, you can buy gold without having to carry physical gold but by using a gold investment account.
Some banks that provide gold investment account services are as follows:
- Maybank gold investment account
- Cimb Bank gold investment account
- UOB Bank gold investment account
- HSBC gold account.
Besides buying gold as an investment in the bank above, you can also buy gold through the Hellogold mobile application platform.
You can download the Hellogold application through the Google Play Store or the App Store.
After installing the application you must register and verify your account so you can buy gold through this platform.
Another way to buy gold is through Exchange Trade Funds (ETF), but maybe in Malaysia, it is less familiar because of its slow development.
But if you want to buy gold bars, you have to be careful, make sure there is a hallmark and stamping that characterizes trusted refiners.
Here are some recommended sites if you want to buy gold bars.
By buying gold bars from trusted refiners, you can sell the gold anywhere because there are an original hallmark and stamp from the refiners.
There is one more way to buy and sell gold, but this method can be said to be high risk but provides a high potential return as well.
Trading Gold with margin trading, so you buy and sell Gold which on the platform is the XAUDUSD symbol, where XAU is the gold symbol and USD is us dollar symbol because the standard gold value usually uses the dollar currency.
Simply, you just need to register an account in a broker that provides trading gold instrument as an underlying asset, you can trade with TenkoFX broker to trading XAUDUSD or gold.
To calculate how much gold per gram is to calculate the value of Karat divided by 24 multiply to the weight of gold.
While to calculate the percentage of gold is to calculate the Karat value divided by 24 multiplied by 100%.
To buy gold as an investment asset, do not must to get it physically, you can use a gold investment account at a bank, or smartphone application that provides buying and selling or investing in gold.
The value of gold is always fluctuating in the market, and you can also buy and sell gold in the spot market through a broker that provides gold instruments as tradable assets.
For gold trading in the spot market, you need experience because high liquidity also allows high risk.
If you have experience in forex trading, gold assets with the XAUDUSD symbol are familiar and become a challenging instrument to try.