Calculating the value of gold is based on its weight, purity, and the prevailing market price. The formula to calculate the value of gold is:
Gold Value = (Weight of gold in grams) x (Purity of gold in percentage) x (Price of gold per gram)
For example, if you have a piece of gold jewellery that weighs 10 grams and has a purity of 22 karats (91.6%), and the current price of gold is Rs 4,500 per gram, the value of the gold would be:
Gold Value = (10 grams) x (91.6%) x (Rs 4,500 per gram) = Rs 41,040.