Finance Explainers
22K vs 24K gold prices: why the numbers don't match
Understand 22K and 24K gold prices, convert a troy-ounce quote to a per-gram estimate, and see why a spot price differs from a jewellery bill.
One page quotes gold per ounce. A shop quotes it per gram. Someone sends a 22K rate while your tracker shows 24K. Before deciding that a price is wrong, get those numbers onto the same basis.
22K and 24K describe purity
Karat measures the proportion of gold in an alloy. A 24K reference represents pure gold; 22K contains about 91.7% gold by the 22/24 calculation. BIS uses 22K916 as the fineness mark for that jewellery grade. The calculator's fraction is an estimate, not an assay of an item.
ToolBarKit lets you compare 24K, 22K and 18K metal estimates. Select the purity that matches the item, rather than comparing a 22K piece with the full pure-gold reference.
Compare purity estimates in the gold tracker →
Sources: World Gold Council: gold carat and purity · BIS: hallmarking and gold fineness
Get both quotes into grams
Gold markets use the troy ounce, which equals 31.1034768 grams. Divide a troy-ounce quote by that number to get the pure-gold price per gram. Then multiply by the item's weight and its purity fraction.
For a made-up example, suppose pure gold is ₹6,000 per gram. The estimated metal value of a 10-gram 22K item is ₹6,000 × 10 × 22/24 = ₹55,000. This is arithmetic using an invented rate, not today's gold price.
Sources: LBMA: the troy ounce
A jewellery bill includes more than metal
The tracker excludes taxes, making charges, dealer premiums and buy/sell spreads. Its INR figure comes from the price provider's currency conversion, not a survey of nearby shops. Ask the seller for the weight, purity, metal rate and added charges separately.
Also check whether the weight includes stones or other parts. A purity calculation on the whole item's weight can give a misleading result if not all of it is gold alloy.
Look at when the quote was updated
ToolBarKit shows the source timestamp and checks for updates while the page is visible. A stale-price notice matters: reloading a page does not guarantee a fresh market quote.
The chart records quotes collected during your visit. It is not a historical gold-price chart or a forecast. Use it to understand the displayed observations, not to infer what gold will do next.
Common questions
Is the 22K figure a guaranteed resale value?
No. It estimates metal value from the spot reference and purity. A buyer may apply testing, fees, deductions and a different buying rate.
Does a higher 24K rate mean I should buy gold now?
The tracker does not answer that question. It displays prices and estimates; it does not assess whether a purchase suits your finances.
Sources and further reading
This guide combines the linked references with examples and the current behavior of ToolBarKit’s tools. Published by the ToolBarKit team; external guidance and tool behavior can change.