Walk into any jewelry shop right now and the first thing you'll notice isn't the sparkle—it's the sticker shock. Gold has been on a tear. If you've been tracking the 18k price per gram lately, you know it’s a moving target that seems to only go up.
Honestly, it’s a bit of a wild west out there. One day you’re looking at a manageable number, and the next, a global news headline sends the market into a frenzy. As of January 2026, we are seeing spot prices for gold hovering around $4,600 per ounce. For the average person just trying to buy a wedding band or sell an old necklace, that "per ounce" number is basically useless. You need to know what a single gram of 18k gold is worth before you get lowballed or overcharged.
Doing the math on 18k price per gram
Gold pricing is 75% math and 25% market chaos. 18k gold isn't pure; it’s an alloy. You’ve got 18 parts gold and 6 parts other metals (usually copper, silver, or zinc to make it durable). In percentage terms, that’s exactly 75% gold.
To find the "melt value"—which is the raw value of the metal inside—you take the current spot price of 24k gold, divide it by 31.1 (the number of grams in a troy ounce), and then multiply by 0.75.
Right now, with gold sitting near $4,600 an ounce, the math looks something like this:
- 24k Gold per gram: Roughly $147.90
- 18k Gold per gram (75%): Approximately $110.92
But here is the kicker: you will almost never pay $110.92 at a retail store, and you certainly won't get that much if you’re selling your scrap.
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Why your local jeweler’s price is different
If you're buying a finished piece of jewelry, the 18k price per gram includes "the work." This is what the industry calls the markup for design, labor, branding, and the lights staying on in the shop.
I’ve seen retail markups range anywhere from 100% to 300% over the melt value. If you’re at a high-end boutique in Manhattan or London, you might be paying $300 or $400 per gram for an 18k piece because you’re paying for the name on the box. On the flip side, if you're selling, a refinery or a "we buy gold" shop has to make a margin too. They usually offer you 70% to 85% of that $110.92 melt value.
The factors pushing 18k price per gram higher in 2026
We aren't in a normal market anymore. According to recent insights from J.P. Morgan and Goldman Sachs, gold is being treated more like a "fear hedge" than a luxury item. Central banks—especially in emerging markets—have been hoovering up gold at record rates. When the big players buy in bulk, the price for your 18k earrings goes up at the local mall.
There’s also the "debasement trade." People are worried about the dollar losing its punch, so they park their cash in something they can hold.
Geopolitics plays a massive role too. Recently, tensions involving Venezuela and the ongoing shifts in Asian markets (specifically China and India) have kept the floor for gold prices very high. We’re seeing a shift where Singapore is becoming a major hub for physical gold, moving the "center of gravity" away from traditional Western vaults in London.
Watch out for the "Purity Trap"
I can't tell you how many people think "18k" is a universal stamp of quality that guarantees a specific price. It doesn't.
- European 18k: Often stamped "750" (representing 75.0% purity).
- Vintage 18k: Sometimes slightly "under-karated" if it was made before modern strict regulations.
- Color variations: Rose gold and white gold are both 18k, but their "other" 25% is different. White gold uses nickel or palladium, while rose gold uses more copper. While the gold content is the same, the resale value can sometimes fluctuate based on the cost of those other metals.
How to get the best deal when selling
If you are sitting on a pile of 18k jewelry and want to cash out, don't just walk into the first pawn shop you see.
- Weigh it yourself: Use a digital scale that measures in grams.
- Check the marks: Look for the "18k" or "750" stamp with a magnifying glass.
- Check the live spot price: Use a site like Kitco or Bloomberg to see where gold is trading that minute.
- Ask for the percentage: Ask the buyer, "What percentage of the spot price are you paying for 18k today?" If they won't give you a straight answer, walk out.
Honestly, anything above 80% of the melt value is a decent deal for a walk-in transaction. If you have a massive amount—like 100 grams or more—you can often negotiate a better rate with a professional refinery.
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What to expect for the rest of the year
The consensus among analysts at firms like Morgan Stanley is that we might see gold hit $5,000 an ounce before the year is out. If that happens, the 18k price per gram will jump toward the $120 mark for raw metal.
It’s a tough time to be a buyer, but a fantastic time to be a seller. Just remember that gold prices are volatile. They can drop $50 in an hour if the Federal Reserve says something unexpected.
Actionable next steps for your gold
Start by separating your jewelry into piles based on the karat stamp. If you have 18k pieces, multiply their total weight by the current 75% melt value to know your baseline. Before you sell, call three different local buyers and ask for their "buy rate" per gram for 18k specifically. This simple phone call usually adds 10-15% to your final payout because it lets the shops know you've done your homework.
Check the current spot price right before you walk into a shop. Prices change every few seconds during market hours, and a savvy seller knows exactly what their pocketful of gold is worth before it ever hits the buyer's scale.