If you’re holding gold-items – whether jewellery, bullion, coins or scrap – one of the first questions likely on your mind is: “What is my gold actually worth today?” The most useful benchmark to begin with in the UK is the spot price per gram, from which you can derive a realistic value, adjusted for karat, condition and local market factors.
As at 22 November 2025, the spot price for 24-carat (24K) gold in the UK stood at approximately £104.01 per gram. For 22-carat gold the figure was about £95.34 per gram These figures give a clear starting point – though of course what you can realise (sell for) will depend on several variables.
Take a quick look here.
In this guide we’ll walk you through:
- how the per-gram price is derived,
- what factors affect what you get for your gold,
- how to compare offers and know when you’re getting fair value, and
- key things to watch out for so you’re not caught off-guard.
The reported “per gram” figure comes from global spot prices (typically per troy ounce) converted into UK sterling and then broken down per gram. The benchmark quoted by the London Bullion Market Association (LBMA) is one of the main references. For example, given 1 troy ounce = ~31.1035 grams, you divide the ounce-price by that number to get the per-gram equivalent.
But remember: the quoted “£104.01 per gram” is for pure 24-carat gold, which is rarely what you have in everyday jewellery or scrap. Most items will be lower karat (22K, 18K, 14K etc) or include other metals and wear-and-tear. So if you have 18K jewellery you’ll need to adjust accordingly – in the UK example the 18K rate was approximately £78.01 per gram.
What Your Gold’s Worth Depends On
Karat Purity: A major driver. 24K is pure gold. 22K ≈ 91.7 % gold, 18K ≈ 75 % gold. So if you have 14K (≈58.3 % gold) you’ll get significantly less per gram than the 24K benchmark.
Weight & Condition: The more grams, the more value but condition matters too. Heavy plating, hollow parts, broken clasps or heavily worn items may reduce the effective gold content or the ease of processing.
Type of Item: If it’s bullion or a bar, the full content is usually gold. If it’sjewellery, coins or scrap, you might incur refining or handling fees, a deduction for wear/tear or non-gold components, and potentially less favourable margins.
Local Demand & Market Premium: In the UK, local market demand, coin or bar premium, and the sterling/dollar exchange rate (since many gold prices are dollar-based) all influence what you actually receive. Recent data indicates small fluctuations: one source shows 24K rate around £100–£104 per gram in recent days.
Karat & Alloy Adjustments: If you have 14K, for example, with 24K at £104 per gram, a rough theoretical value for pure weight might be:
£104 × (58.3 % gold) ≈ £60.70 per gram before other deductions (refining, labour, alloy metals) are taken into account.Take a look!
How to Compare Offers &What to Ask
When you get quotes for gold (scrap, jewellery, coins) you’ll want to ask:
- What is the per-gram price they are using for your karat value?
- Are there any refining or handling deductions?
- Is the offer for net weight of gold, or does it include non-gold metals/components?
- Does the buyer provide a breakdown or receipt?
- What is the turnaround time and how is payment handled?
- Is the business reputable and transparent?
A reputable buyer or dealer will quote a per-gram benchmark (linked to current spot), clarify deductions, and show how they arrived at the amount you’ll receive.
Should You Sell or Hold? What the Rate Suggests
If the spot is ~£104 per gram for 24K, and you have lower carat items, you can calculate a “realistic value”.
For example: if you have 10 grams of 18K gold:
10 g × £78 per gram (the 18K UK rate) ≈ £780 gross weight value before deductions.
If you’re offered significantly less (say £500 or £600 for 10g of 18K), you might ask: why the discrepancy? Is the buyer using a much lower per-gram value, or are they applying large deductions?
On the other hand, if you believe gold will rise further, holding might be sensible – especially if you don’t need cash now. Investors in the UK are buying more gold coins, partly as a hedge against tax or inflation.
What’s Driving the Price Right Now (Nov 2025)?
Several macro-factors are supporting the higher valuations:
- Ongoing global «safe haven» demand for gold amid uncertain economic growth.
- Sterling exchange rate fluctuations – a weaker pound makes gold more expensive in UK terms.
- Low real interest rates in many major economies, which reduce the opportunity cost of holding non-yielding assets like gold.
- High demand in physical and coin form in the UK, as noted above.
All of these factors mean the baseline spot price (£100-£104 per gram for 24K) is likely to remain elevated, though gold still experiences the familiar daily or weekly swings.
What to Watch For If You’re Going to Sell
- Check the spot rate on the day: use reliable UK-based sources.
- Confirm the karat/purity of your item before accepting an offer.
- Ask for a written quotation or breakdown.
- Understand deductions: the difference between “gross weight” and “net gold content”.
- Confirm payment timing: some buyers pay immediately, others hold for assay/refining.
- Keep an eye on bearing hallmarks: in the UK, hallmarks provide clarity on gold content (e.g., “750” for 18K).
- Consider tax implications, especially if you are selling as part of a business or have gains.
Frequently Asked Questions (FAQs)
- How do I find the current price per gram of gold in the UK?
You can check UK-based live sources such as goldpricez.com, livepriceofgold.com or marketshost.com. As of 22 November 2025 the 24K rate was ~£104.01 per gram. - If I have 14K gold, how much is it worth per gram?
Start with the 24K benchmark (~£104 per gram). Then apply the purity ratio (14K ≈ 58.3 % gold). That gives ~£60.70 per gram before deductions. Actual offers may be lower once refining or labour charges are included. - Should I sell my gold now or wait for a better price?
That depends on your circumstances. If you need cash or liquidity, current high levels (~£100+ per gram) are favourable. If you don’t require immediate sale and believe gold will continue rising, you may consider holding – but be aware of storage, security and insurance costs if holding physical items.
Final Thoughts
If you’re holding gold today in the UK, the benchmark spot price of around £104 per gram for 24K offers a clear baseline. For lower carat values, you convert downward accordingly (for example ~£95 for 22K, ~£78 for 18K) and then subtract any legitimate refining or handling costs when estimating what you’ll net.
Comparing offers and knowing the true market benchmark helps you distinguish between fair value and an unfavourable deal. Whether you decide to sell now or hold, understanding the value per gram empowers you.
For a fair, accurate, and fully transparent valuation you can rely on, visit us and let Coventry Gold show you what your items are truly worth.
