Gold Price Australia

Cashing in old or broken gold jewellery is big business at the moment. Many companies offer a cash swap for your “scrap” gold. How do you determine the value of your gold before handing it over to such merchants?

Eaxmple) You have a broken 14Karat gold chain, weighing in at 10 grams. To calculate the value, click here and open Dendritics precious metal calculator. Enter the weight of your gold (10 grams), select unit value (grams). Then select gold, and purity value (14K). From here you can work out the market value of your gold in US dollars. From there you simply convert US to AUS dollars.

Repeat this process for different types of gold jewellery you might consider for scrapping. Obviously, the cash for gold merchants will take a percentage. So you will never get full market value for your gold.

The gold Price in Australia can fluctuate quite dramatically from the value of  gold in other countries. This is a result
of currency fluctuations. Although the price of gold has increased expenetially in the last few years, the value of the Australian dollar has also risen wiping out much of the gains gold has made. Yet if gold is to continue to appreciate in value and the Australian dollar depreciates back to a more neutral position, the value of gold in Australia could potentially hit levels never seen before in history.

Below is a 10 Year graph displaying the Priceof gold in Australian dollars