How this calculator works
The calculator starts from the live 24K gold price per troy ounce, converted to CAD at the current exchange rate. Your weight is converted to grams (1 troy ounce = 31.1034768 g, 1 tola = 11.6638038 g), and the value is adjusted for purity — the multiplier is simply the karat divided by 24, so 22K/916 gold uses 22 ÷ 24 ≈ 0.9167. The formula: value = grams × pure gram price × purity, plus any premium and minus any discount you enter.
Canadian jewellery is usually 10K, 14K or 18K — 10K being the legal minimum to be sold as gold in Canada. 22K/916 jewellery is mostly found through South Asian and Middle Eastern jewellers in cities like Toronto and Vancouver.