The market value of gold fluctuates daily, so there is no one set price for any certain type of gold. If you are trying to sell gold scrap jewelry for money, it is important to know what the market value for gold is for the day. If the market value of gold is higher on a specific day, you will be paid a higher sum of money for your gold because the value of the gold is higher. It is also important to know that the amount of karats in gold determines what the price will be as well. 24 karat gold is the finest type of gold with the highest concentration of actual gold. The karats in gold descent from 24, to 22 karat gold, 18 karat gold, and then gold with 14, 10 and 8 karats, which usually contain a comparatively small amount of gold.

If you want to buy scrap gold, or sell it, the amount of gold in the piece will determine the price of the gold. In gold pieces, gold is typically mixed with another metal alloy. The higher the karat is of gold, the higher the percentage of gold is in the piece. 24 karats of gold means that the piece is made of only gold, with no other metal alloys. However, a piece which is 14 karat gold is usually made half of gold and half of another material. The price of 24 karat gold which is entirely made of gold will naturally be higher than the price of 14 karat gold, which contains less gold. Gold can still be extracted from a 14 karat piece, but only half as much gold that would be extracted from a 22 karat piece.

Prices for gold are not set in stone. When selling a piece of gold, the gold is usually evaluated by the buyer to determine the amount of gold in the piece. If they want to buy the gold the gold buyer will reach the seller and discuss a price based on karats and the current market value of gold at the time.