Fine Gold Jewelry - Latest Fine Gold Jewelry News - Caregiver Arrested for Stealing From Patients

I hope you’ve been enjoying my posts lately. I thought I might do something different today and rustle up a few bits of info from around the WWW. These are some of the news items and blog posts that have been popular over the last few weeks. Leave me your thoughts.

Caregiver arrested for stealing from patients

Syracuse (WSYR-TV) – The price of gold may be motivating a lot of people to sell their jewelry for quick cash and police say it's driving something … Read More…

Investors Indulge Appetite for Luxury

Soaring international auction sales of art, wine, watches and jewelry signal that investors may be looking to luxury as a hedge against … Read More…

The Facts About Sterling Silver Jewelry

A comparable piece of gold jewelry might cost four or five times that of a piece of sterling silver jewelry. The current fashioned trend toward black … Read More…
That’s all the news for today guys, so until next time, thanks for stopping by.

Worth is a relative term.
If you need cash, chances are you'll accept less than the gold is actually worth (on the open market.)

22K gold is 91.7% fine gold.
Gold is weighed in Troy. There are 1.555 grams in a pennyweight (dwt) and 20 dwt per Troy ounce.
So you must first convert grams to pennyweights:
40g X .643 = 25.72 dwt
Then to discover the amount of fine gold you multiply by .917
25.72 X .917 = 23.58 dwt

Gold on Friday was $742.30 per ounce. But that price is for futures trading and to get that price you must take delivery of 100 Troy ounces!
That's a lot of dead presidents!
Otherwise you'll pay a % over spot depending on the deal your broker will cut you. Assume 10% though. And that's the buying price. The selling will be less.

But to help you understand what you have, take the price of gold $742.30 and divide by 20 (20 dwt per ounce) = $37.12 per dwt. and multiply this by the number of dwt's you have: $875.18

But look at it from a jewelers POV. I need gold to make jewelry. As another answerer stated, it's difficult for a jeweler to determine if your gold is actually 22k. There is acid made for that test, but it's not super reliable. The best I can say with any accuracy is that what you have is at least 18K (75% gold).

But regardless, I might only buy gold when I have an order for it. If I buy your's its purely on speculation. I simply won't pay spot for gold that I don't need or have a customer for.