22 Carat Gold Prices in the UK
22 carat gold, also known as 22k gold, is a popular choice for jewellery and investment, containing 91.67% pure gold mixed with other metals for durability. Understanding the current price of 22 carat gold can help you make informed decisions whether you're buying jewellery, investing, or selling gold items.
💡 The price of 22 carat gold fluctuates daily based on the international gold market, with prices typically quoted per gram, per ounce, or per tola. Knowing current rates and factors that affect pricing can help you get the best value when buying or selling.
How Much is 22 Carat Gold in the UK?
22 Carat Gold Per Gram: £45 to £55 per gram, depending on current market prices and dealer premiums.
22 Carat Gold Per Ounce: £1,400 to £1,710 per troy ounce (31.1 grams).
22 Carat Gold Per Tola: £520 to £635 per tola (11.66 grams), a traditional measurement used in some markets.
22 Carat Gold Jewellery: £50 to £70 per gram including making charges and dealer margins.
For example, at BullionByPost in London, 22 carat gold currently trades around £48 to £52 per gram, while Hatton Garden Metals may offer slightly different rates. Jewellery retailers typically charge £55 to £65 per gram for 22 carat gold jewellery, including making charges.
Factors that Affect the Cost of 22 Carat Gold in the UK
📈 International Gold Market
The price of 22 carat gold is directly linked to the international gold spot price, which fluctuates daily based on global economic conditions, currency exchange rates, and market demand. Gold prices are quoted in US dollars per troy ounce, and UK prices are converted using the GBP/USD exchange rate. Market volatility can cause significant price swings.
🏪 Dealer Premiums and Margins
Gold dealers add premiums to the spot price to cover their costs and profit margins. Premiums typically range from 2-8% above spot price for bullion, while jewellery includes additional making charges of 10-30%. Online dealers may offer lower premiums than physical stores due to lower overheads. Always compare prices from multiple dealers.
💎 Form and Purity
22 carat gold contains 91.67% pure gold, with the remainder being alloy metals (typically copper and silver). The price reflects this purity level, with 24 carat (pure) gold commanding higher prices. The form (bullion, coins, jewellery) also affects pricing, with jewellery commanding higher premiums due to craftsmanship and design.
📍 Location and Dealer
Prices can vary between dealers and locations. London's Hatton Garden, a historic jewellery district, may offer competitive rates, while online dealers often provide better prices due to lower overheads. Established dealers with good reputations may charge slightly more but offer better service and authenticity guarantees.
📊 Quantity and Type
Buying larger quantities may qualify for better prices per gram, as dealers can offer volume discounts. Bullion bars and coins typically have lower premiums than jewellery. The type of item (bar, coin, jewellery) affects pricing, with investment-grade bullion usually offering the best value per gram of gold content.
How to Save Money on 22 Carat Gold in the UK
💡 Compare Multiple Dealers
Always compare prices from multiple dealers before buying or selling. Online dealers often offer better prices than physical stores, but ensure they're reputable and offer secure transactions. Check dealer reviews, certifications, and whether they're members of professional associations like the London Bullion Market Association.
🏥 Buy Bullion for Investment
If you're buying for investment purposes, choose bullion bars or coins rather than jewellery, as these have lower premiums (typically 2-5% vs 10-30% for jewellery). Investment-grade bullion offers better value and is easier to sell later. Consider storage and insurance costs when investing in physical gold.
💷 Time Your Purchase
Gold prices fluctuate daily, so timing your purchase can make a difference. However, trying to time the market is difficult, and gold is typically seen as a long-term investment. Consider dollar-cost averaging (buying small amounts regularly) rather than trying to time the perfect moment. Monitor prices over time to understand typical ranges.
🔍 Understand Premiums
Ask dealers to break down their pricing, showing the spot price, premium, and any additional charges. This helps you compare like-for-like and identify the best value. Be wary of dealers charging excessive premiums, particularly for jewellery. Always verify you're getting genuine 22 carat gold with proper hallmarks.
✨ Consider Selling Fees
If you're selling 22 carat gold, be aware that dealers will buy below spot price (typically 2-5% below) to cover their margins. Compare selling prices from multiple dealers, and consider whether you're better off selling to a jeweller, pawnbroker, or specialist gold buyer. Get multiple quotes before committing.
FAQs
How much is 22 carat gold per gram?
22 carat gold costs approximately £45 to £55 per gram in the UK, depending on current market prices and dealer premiums. The price fluctuates daily based on the international gold spot price. Jewellery typically costs £50 to £70 per gram including making charges, while bullion has lower premiums of 2-5% above spot price.
What's the difference between 22 carat and 24 carat gold?
22 carat gold contains 91.67% pure gold, while 24 carat gold is 100% pure gold. 22 carat gold is more durable and suitable for jewellery due to the alloy metals (typically copper and silver), while 24 carat is softer and primarily used for investment. 24 carat gold commands higher prices per gram due to its purity, typically £5-£10 more per gram than 22 carat.
Is 22 carat gold good for investment?
22 carat gold can be a good investment, though 24 carat gold is typically preferred for pure investment purposes due to higher purity. 22 carat gold is better for jewellery as it's more durable. For investment, consider bullion bars or coins rather than jewellery to avoid high making charges. Always buy from reputable dealers and consider storage and insurance costs.
Where can I buy 22 carat gold in the UK?
You can buy 22 carat gold from jewellers, bullion dealers, online retailers, and Hatton Garden in London. Reputable dealers include BullionByPost, Hatton Garden Metals, and established jewellers. Always verify dealers are reputable, check for proper hallmarks, and compare prices. Online dealers often offer better prices but ensure secure transactions.
How do I know if my gold is 22 carat?
22 carat gold should have a hallmark showing "22ct" or "916" (indicating 91.6% purity). UK hallmarks are legally required and show the purity, maker's mark, and assay office. If your gold doesn't have a hallmark, have it tested by a reputable jeweller or assay office. Professional testing can confirm the exact purity and value of your gold.
Conclusion
🎯 22 carat gold costs approximately £45 to £55 per gram in the UK, with prices fluctuating daily based on international market rates. While 24 carat gold is preferred for pure investment, 22 carat offers excellent durability for jewellery while maintaining high gold content. Compare multiple dealers, understand premiums, and consider bullion for investment purposes to get the best value. Whether buying or selling, always verify authenticity through proper hallmarks and deal with reputable, established dealers.
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Jane Smith |
| Am British, live in London (1985–present) |
