24 carat gold, also known as 24 karat gold, is the purest form of gold. It represents 100% pure gold. If all 24 parts of the metal are composed of pure gold, it is labeled as 24k gold, meaning it does not contain any other metal.
Its prices fluctuate based on economic factors like global market conditions, inflation rates, and geopolitical events.
999 Gold
24k is also considered as 999 Gold which shows the fineness of Gold. There are two systems to measure the purity of Gold. Carat measures the purity of gold in 24 parts while fineness measures it in 1000 parts. So 24k and 999 Gold means that Gold is 99.99% pure.
24k Gold purity
It contains 99.99% pure gold with no other metals mixed in, such as copper, nickel, zinc, or silver. Although it is almost pure, it doesn’t reach 100% purity. Therefore, 24 carat gold is extracted from gold ores in solid form at this purity level.
| Carat Gold | Parts Gold | Fineness | % Gold |
|---|---|---|---|
| 24 carat | 24 in 24 | 999 | 99.99% |
| 22 carat | 22 in 24 | 916 | 91.67% |
| 18 carat | 18 in 24 | 750 | 75% |
| 14 carat | 14 in 24 | 585 | 58.33% |
| 12 carat | 12 in 24 | 500 | 50% |
| 10 carat | 10 in 24 | 417 | 41.67% |
| 9 carat | 9 in 24 | 375 | 37.5% |
Price per Gram
The current price of 24 carat gold per gram in the UK is approximately £59.00. However, gold prices can fluctuate frequently due to factors like global market conditions, inflation, and world events. Moreover, the exact price may vary depending on the source and date.
Properties
It is valued for its highest purity, bright yellow color, and soft, malleable texture, but it is more subject to scratching compared to gold alloys.
Color: It has a rich, bright yellow color that is more vibrant than lower-carat gold alloys.
Softness: Pure gold is relatively soft and malleable, making it more open to scratches and deformation compared to gold alloys.
Density: This gold is heavier and more dense than gold alloys with a lower gold content.
Chemical Stability: It is very resistant to corrosion, oxidation, and tarnishing and maintains its shiny, attractive appearance over time.
24 Carat Gold Applications
It is used in various industries. Here are its main applications:
Jewelry and Ornaments: 24-carat gold is preferred for making high-end jewelry like necklaces, rings, and bracelets due to its purity and timeless appeal.
Electronics and Technology: It is crucial in electronics for its excellent conductivity and corrosion resistance, used in circuit boards and connectors.
Dentistry and Medical Use: Known for its biocompatibility and durability, it’s used in dental crowns, bridges, and medical devices.
Investment and Wealth Preservation: Investors value 24k gold bars and coins as a secure and stable investment option.
Decorative and Artistic Applications: It adds richness to architectural elements and artworks, prized for its enduring beauty.
Gold coins
24-carat gold coins are made from pure gold, making them so valuable for investment purposes. They are known for their availability, design, and features.
Availability: These are available in various denominations and weights, such as 1 gram, 2 grams, 5 grams, 10 grams, and more.
Design and Features: 24k gold coins often feature complex designs and engravings, making them highly collectible and valuable.
Investment: Investors favor their gold coins for their high value and potential for long-term appreciation.
Prices: Their prices vary based on the gold’s weight, purity, and the coin’s specific design and features.
History of 24k Gold
The history of 24 karat gold goes back to many different ancient civilizations. For example, the ancient Egyptians provided this valuable metal to their pharaohs, and the wealthy Mughal rulers had amazing buildings made with it.
This most pure form of gold also has great cultural and symbolic meaning. It can be seen in intricate artifacts, artworks, and grand buildings, all of which show how captivating and lasting the appeal of this gold is. The legacy of 24 karat gold is one of lasting beauty and cultural significance.
