Step 1: The current price of gold
This is also referred to as the Spot Price. This refers to the current price of a one ounce, 24 Karat, 99.99% pure gold bar.
This isn't the price you will receive, but it should serve as the basis of any offer you get.
Finding the Spot Price of gold
This is actually very easy. There are a number of web sites that list the current Spot Price of gold. The one we use on a daily basis is Kitco.com.
The Spot Price is in a little box on the left sidebar of their site. You can use the Bid or Ask price - the difference is usually only a dollar or so.
Once you find the Spot Price, divide it by 31.1. This is the price of gold per gram. Write this number down.
Example: $1506.00 ÷ 31.1 = $48.42 per gram
