How this calculator works
The calculator starts from the live 24K gold price per troy ounce, converted to AUD 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.
Australian jewellery is typically 9K or 18K rather than the 22K standard of Asia, so the 916 rate mainly matters for imported and heritage pieces. Local pieces are stamped with fineness marks such as 375 or 750 rather than a formal national hallmarking scheme.