Explanation of Gold

 Weight:

Gold is weighed in troy ounces.
There is a world price of gold that is set each day in London for each oz.

One price is set in the morning; a second price is set in the afternoon.
It is called the London Gold Fix.

Gold is also weighed in a measurement called pennyweights (abbreviation is dwt.)

There are 20 dwts per troy ounce.
Or
Gold can be weighed in grams…there are 31 grams in a troy oz.

1 dwt= 1.55 grms            1 dwt= 1/20th oz

 

 

 Gold Karat Explanation:

Pure gold is 24kt.  Since this is typically too soft to make jewelry that is strong enough to wear, the pure gold is mixed with other metals to create a stronger metal.  The variations of the metals used are…copper, brass, or nickel.  The amount of the metal used will give the gold a variation to it’s color.

The % of gold in a piece of jewelry is relative to 24kt (pure gold)

14kt  means  14 parts pure gold and 10 parts of alloy =24

18kt  means  18 parts pure gold and 6 parts of alloy = 24

In the US a piece of jewelry that is gold must be marked as gold with a plate or a stamp.  It can read 10k, 10kt, 14k, 14kt, 18k, 18kt.   In Europe they are not mandated to use a stamping but typically they will use 750 for 18kt gold

  

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