How karat affects the price of gold
Karat measures how much of an alloy is pure gold, on a scale of 24. Because the market only pays for the gold content, the price per gram of any karat is simply the pure-gold price multiplied by its purity. A gram of 18k is worth exactly three quarters of a gram of 24k, whatever the spot price does.
Have several pieces in different karats? The scrap gold calculator adds them up and shows what a buyer is likely to pay. Prices are provided by MetalflowAPI.