Price of Gold
Since 1919 the most common benchmark for the price of gold has been the London gold fixing, a twice-daily telephone meeting of representatives from five bullion-trading firms of the London bullion market. Gold fixing is the procedure by which the price of gold is determined twice each business day on the London market by the five members of The London Gold Market Fixing Ltd.
The gold fix is conducted in United States dollars, Pound sterling (GBP), and the Euro daily at 10.30am and 3pm, London time.
PURITY of GOLD
The karat or carat (symbol: K or kt) is a unit of purity for gold alloys.
24-Karat gold (the purest form of gold) is fine (99.9% Au w/w), 18-Karat gold is 18 parts gold 6 parts another metal, 12-Karat gold is 12 parts gold (12 parts another metal), and so forth.
PRICE OF GOLD. How much is my gold worth?
The higher the karat number of the gold, the higher its purity and therefore the higher its value.
While pure gold is yellow in color, coloured gold can be developed into various colours (white gold, rose gold, red gold, pink gold, green gold, grey gold, black gold, blue gold, purple gold) by adding other metals in various proportions.
Sell gold in London