Read on to discover how the purity of your gold decides how much cash lands in your pocket. As per 2026 gold prices.
If you have an old gold ring, a broken chain, a pair of earrings you no longer wear, or jewellery that has been sitting in a drawer for years, you may have wondered how much it is actually worth. The answer is not always as simple as looking at the price you originally paid for it.
The gold jewellery value today depends mainly on how much gold is in the item, its purity, its weight, and the current gold price in Australia. In some cases, the design, age or brand can also add value, particularly if the piece is rare or collectable.
If you are thinking about selling your gold jewellery, understanding these basics can help you get a clearer idea of what your item may be worth and what to expect when you have it valued.
What Determines the Value of Gold Jewellery?
There are a few main things that affect the value of gold jewellery. The most important are the purity of the gold, the weight of the item, and the current market price of gold.
For jewellery being sold for its metal value, these three things usually make up the biggest part of the calculation. For example, a heavy 18K gold chain will generally contain more gold than a very light 18K ring. Similarly, a 22K item contains more gold than an item of the same weight made from 9K gold.
The current gold price also changes regularly, so the value of the same piece of jewellery can be different at different times.
| Karat (K) | Purity % | Hallmark Stamp | Gold Content in 10g | Example Value (if spot price = $100/g) |
| 24K | 99.90% | 999 | 10g pure gold | $1,000 |
| 18K | 75% | 750 | 7.5g pure gold | $750 |
| 14K | 58.50% | 585 | 5.85g pure gold | $585 |
| 9K | 37.50% | 375 | 3.75g pure gold | $375 |
Please note: The above table is merely an example to help readers understand how the gold price is calculated. To get an approximate value of your gold, you can multiply the weight of your gold, based on its purity by the live market price of gold.
Does Gold Purity Affect the Value of Jewellery?
Gold purity has a direct effect on the value of your jewellery because it tells you how much actual gold is present in the item. Gold jewellery is made by mixing gold with other metals. Pure 24K gold is very soft and can bend or scratch easily, so it is not practical for most everyday jewellery. Other metals are added to make the jewellery stronger and more suitable for regular wear.
You may come across jewellery marked:
- 9K: 37.5% gold
- 14K: 58.5% gold
- 18K: 75% gold
- 22K: 91.6% gold
- 24K: 99.9% or more pure gold
Suppose the pure gold spot price (the current market price of gold) is AUD 100 per gram.
- 10g of 24K gold (100% pure) = 10g × A$100 = A$1,000
- 10g of 18K gold (75% pure) = (10g × 0.75) × A$100 = 7.5g × A$100 = A$750
- 10g of 9K gold (37.5% pure) = (10g × 0.375) × A$100 = 3.75g × A$100 = A$375
Gold Value Outlook in 2026 (Australian Values)
Gold has remained at historically high levels in Australia during 2026. The exact price changes regularly, so there is no single gold price for the entire year. The Perth Mint’s published Australian gold price was around A$6,500 per troy ounce in August 2026. A troy ounce is the standard unit used to measure precious metals and is equal to about 31.1 grams. This works out to roughly A$209 per gram for pure gold, although the actual price changes with the market.
The Perth Mint also publishes prices specifically for gold jewellery based on purity. Its August 2026 figures showed indicative buying prices of around A$59.82 per gram for 9K gold, A$93.32 for 14K, A$119.64 for 18K, A$146.12 for 22K and A$159.36 for 24K gold. These are Perth Mint’s own indicative buying prices and can change as market prices move.
How Can You Calculate the Gold Value of Your Jewellery?
The basic calculation is quite simple:
Weight of jewellery × gold purity × current gold price = estimated gold value
For example, imagine you have a 10-gram 18K gold ring.
18K gold is 75% pure gold, so:
10 grams × 75% = 7.5 grams of pure gold
If the current pure gold price were A$209 per gram, the estimated metal value would be:
7.5 grams × A$209 = A$1,567.50
Please note: This is only an example to show how the calculation works. It does not mean you would receive exactly A$1,567.50 when selling the ring. The actual amount offered by a buyer can be different because of refining, processing, and other costs, as well as the buyer’s pricing.
How Do Gold Buyers Test Jewellery?
Before a buyer can work out the value of your jewellery, they need to know what it is made from and how much gold it contains. Professional gold buyers may use XRF testing. XRF stands for X-ray fluorescence, which is a professional testing method used to identify the metals in an item and determine its purity without cutting, scratching or damaging the jewellery.
Please note: A reputable buyer should be able to explain this process to you clearly so you understand how the valuation has been reached.
At Cash Your Gold, your gold is tested in front of you, using XRF technology, and we explain up-to-date gold rates before you make any final decision to sell your gold.
If you’re looking to sell gold in Brisbane and want a clear deal with no high-pressure sales tactics, choose a buyer who conducts gold testing with an XRF machine for accurate gold price valuation.
Visit Cash Your Gold for a free, no-obligation gold valuation using advanced XRF technology and live gold rates. Walk in anytime, ask questions, and sell only when it feels right.
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- 📞 Call: 1300 678 175
- 🌐 Website: cashyourgold.net.au
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Frequently Asked Questions (FAQs)
Q: How much is my gold jewellery worth in 2026?
A: The value depends mainly on the weight and purity of the gold, as well as the current gold price. Our highly reliable XRF test and valuation can give you a more accurate figure for your particular item.
Q: How is the value of gold jewellery calculated?
A: The basic calculation looks at the weight of the jewellery, its gold purity, and the current market price of gold. The final amount offered by a buyer may be lower than the theoretical metal value because of refining and processing costs.
Q: Does gold purity affect the value of jewellery?
A: Yes. Higher-purity gold contains more actual gold, so it will generally have a higher metal value than a lower-purity item of the same weight.
Q: How much is gold worth per gram in Australia?
A: The gold price per gram changes regularly with the international gold market and the Australian dollar. The published market price is a useful guide, but it is not necessarily the amount you will receive when selling jewellery.
Q: Is old or damaged gold jewellery still worth money?
A: Yes. Broken, damaged or old jewellery can still be valuable because it contains gold. The item’s condition may matter less when it is being sold primarily for its metal content.
Q: How do gold buyers test jewellery?
A: Professional buyers can use methods such as XRF testing to check the metal and its purity without damaging the item. They will also weigh the jewellery before calculating its value.
Q: Can I sell gold jewellery based on the current gold price?
A: Yes, the current gold price is an important part of the valuation. However, your jewellery’s purity and weight also need to be considered, and the amount offered by a buyer may differ from the published market price.
Q: How can I get my gold jewellery valued in Brisbane?
A: You can take your jewellery to a reputable local gold buyer for testing, weighing and valuation. At Cash Your Gold, our team can assess your items, explain how the valuation is worked out, and let you decide whether you want to sell.
