How to Calculate Your Exact Gold Payout in Sydney

The Formula Every Sydney Gold Seller Should Know

Every legitimate gold payout is calculated from a single source of truth: the live international gold spot price, known as XAU/AUD. This is the price in Australian dollars per gram of pure 24-carat gold, updated every second by the global market.

The formula is:

Payout = Weight (grams) × Spot Price (AUD/g) × Purity Factor × Buyer Margin

At Gold Exchange Universe, the buyer margin for scrap gold and jewellery is 93.5% — meaning we pay 93.5 cents in every dollar of gold value. There are no refining fees deducted afterwards, no assay charges, and no minimum lot requirements.

Step 1 — Identify Your Gold Carat

Every piece of gold jewellery sold in Australia must carry a carat stamp. Look for it inside the band of a ring, on a clasp, or on a small tag attached to the piece. The most common stamps and their purity factors are:

If you cannot find a stamp — common with very old jewellery, dental gold or foreign pieces — do not let any buyer guess. At Gold Exchange Universe we use a professional XRF (X-ray fluorescence) tester that identifies the exact gold content of any piece in seconds, at no charge.

Step 2 — Weigh Your Gold

A standard kitchen scale set to grams is sufficient for an estimate. Weigh the entire piece including any attached stones, settings or clasps. Your buyer will deduct the weight of non-gold components during assessment — but for your own calculation, total weight gives you a conservative floor figure.

For precise results, jewellers' scales measure to 0.01 grams. If you have multiple pieces, weigh them separately by carat — mixing 9CT and 18CT on the same scale reading produces an inaccurate blended figure that will disadvantage you.

Step 3 — Check the Live Gold Spot Price

The live XAU/AUD rate is published on our website at goldexchangeuniverse.com.au, updated every 60 seconds. You will see the price in both dollars per troy ounce and dollars per gram — use the per-gram figure for the formula.

The spot price moves continuously during market hours. For your calculation, use the price at the moment you intend to sell — not a price from yesterday or last week.

Step 4 — Apply the Formula

Here are three worked examples using a spot price of $190.00 AUD per gram:

These figures are indicative. The final payout is confirmed in store after our team weighs and tests your items with professional equipment. In 35 years, I have never seen our in-store calculation differ meaningfully from this formula — because the formula is the price.

What to Watch For With Other Buyers

Not every gold buyer in Sydney uses this formula transparently. Three practices that reduce your payout without warning:

1. Refining fee deductions. Some buyers quote a percentage of spot, then deduct a refining fee from the total after you agree. Ask any buyer upfront: "Is there a refining fee or any deduction from the price you've quoted?" At Gold Exchange Universe, the answer is no.
2. Low XRF reading disputes. Some buyers use uncalibrated testers or manually adjust readings to reduce the stated purity. Our XRF equipment is professionally calibrated and we will show you the reading.
3. Percentage of a different base. Some buyers quote "95% of spot" but calculate against a wholesale price, not the retail spot price. Always confirm which spot price reference they are using. We use the same live XAU/AUD rate published publicly on our website.

Visit Gold Exchange Universe — No Appointment Needed

Once you have run the formula and know your approximate payout, visit us at Shop GB, 303 Pitt Street, Sydney CBD (Pittsway Arcade). We are open Monday to Friday 9am–5pm and Saturday 9am–2pm. No appointment is necessary.

Bring your gold, let our team test and weigh it, and you will have cash in hand within 15 minutes. If another licensed Sydney gold buyer has given you a higher written quote, bring it in — we will beat it.

Phone: 02 9267 9990
Address: Shop GB, 303 Pitt Street, Sydney NSW 2000