Two necklaces can weigh the same and contain different amounts of gold. Purity is one reason their estimated metal values differ.
Karat describes gold content: 24K denotes pure gold, 22K is approximately 91.7% gold and 18K is 75%. See the World Gold Council purity guide.
Before calculating an estimate:
- Check the documented purity.
- Confirm whether the weight includes stones or other non-gold components.
- Choose a rate with a stated currency, date and purity.
- Identify whether it is a reference rate, retail selling rate or buyback quote.
- Use the rate for the correct purity. If the rate is already for 22K, do not apply the purity adjustment again.
- Label the result an estimate and keep it separate from the purchase price.
For an illustration only, 10 grams of documented gold-alloy weight multiplied by a hypothetical 22K rate of S$100 per gram gives S$1,000. This is arithmetic, not today's price or an offer to buy the piece. Stones, design and transaction terms require separate consideration.
Keep INR receipts in their original currency even when reviewing estimates in SGD. This preserves what was paid without confusing it with a later currency conversion.
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