Gold 916 – 22 Carat
Live 916 Gold Price
What is Gold 916?
To fully grasp what gold 916 is you need an appreciation of what gold hallmarks are and why they are important. ‘916’ gold is just one of many different types of hallmarks.
If a gold product bears the hallmark ‘916’, then your gold has been tested and classed as 22 carat or 91.6 per cent pure.
The remaining 8.4 per cent of the item is composed of different metals such as nickel, copper, or in some cases silver. Therefore a 22 carat piece is an alloy of Gold and other metals with a minimum Gold content of 91.6%.
Pure Gold is quite soft and malleable so Gold jewellery that is designed for everyday wear contains additional, harder metals, usually of lesser value than Gold, to make the item more hard wearing.
22 Carat Gold is the most prestigious choice for wedding rings in the UK and is also used to mint several renowned gold coins such as the UK Sovereign, the South African Krugerrand and the US Gold Eagle.
The colour of 916 Gold can vary markedly from a silvery tint to a deep coppery tone. The actual gold content remains the same but the colour will vary depending on the type of metal added to the alloy.
In order to calculate a price for a jewellery item, the live gold price is applied to the weight of pure or fine gold in an item, rather than the overall weight of the product. For example, if the spot price of gold was £1000 per troy ounce, and you have one ounce of 22 carat gold, your gold would be roughly worth £916.00.
Our 22 carat Gold Price Chart has been designed to simplify this process and already applies the calculation required to produce an actual Price Chart for 22 Carat Gold.