Scrap Gold prices

If you have unwanted, damaged or broken jewellery safely tucked away, it could be a valuable asset waiting to be unlocked. However, understanding scrap gold prices in the UK and figuring out exactly how much your items are worth can often feel confusing.

In this guide, we'll walk you through how gold is priced, the market trends that influence daily valuations and how you can securely sell scrap gold in the UK. Whether you're looking to clear out an old collection or raise funds for something new, read on to discover how to get the best possible value for your precious metals.

How much is my gold worth?

Rather than relying on a generic scrap gold calculator in the UK, which can sometimes provide inaccurate estimates, the best way to find out exactly how much your gold is worth is to get a bespoke valuation from our experts. You can either fill out our quick online form to receive a secure, preliminary offer or visit one of our 290+ branches for a precise, in-person assessment.

Once you receive your valuation, you can lock in that price by selling your items with us today. To ensure transparency, we have detailed exactly how our valuation process works below, so you know that you're getting a fair, highly competitive deal.

Don't know what carat your gold is? Keep reading to find out how to check the purity of your gold at home.

How do you calculate gold value?

When you bring your items to us, our experts follow a transparent and straightforward process. Valuing gold comes down to three key factors: weight, purity and the current market rate.

First, we price your gold by dividing its weight by its purity. This allows us to discover exactly how much pure gold will be left once the item has been melted down. We then multiply this figure by the current global market value of gold to determine your final offer.

For example, here's a rough guide to how much you could get for some common items of scrap gold:

*Please note: These prices are based on gold values in July 2026. They change from day to day. Fill in our form to find out how much you could sell your gold for.

How to weigh your scrap gold

You can get a fairly accurate idea of your gold's weight at home by using digital kitchen scales that are precise to 100th of a gram (two decimal places).

However, once we receive your scrap gold, we'll meticulously weigh it using highly calibrated, industry-standard jeweller's scales. This means the final weight we record might be slightly different from your home measurement, which can affect the final price we offer.

How to tell if gold is real

Before you bring your items to a branch or fill out our online form, you can perform a quick check at home to see if your scrap gold is genuine. The most reliable way to verify this is to locate the hallmark engraving in the metal.

Mints and jewellers typically stamp hallmarks in discreet places out of plain sight, so we recommend checking the back of pendants, the clasps of necklaces or the inside bands of rings.

When inspecting your items, there are two primary components of a UK hallmark to look out for:

·         The traditional fineness mark: This symbol indicates the type of precious metal used for the piece. For gold items sold in the UK, this historic mark provides immediate visual verification of the asset's material.

·         The standard mark: This three-digit number indicates the exact purity of the gold, representing how many parts per thousand of the alloy are pure gold. For instance, a stamp reading '750' means the piece is 75% pure gold.

To help you quickly translate the stamps on your jewellery and understand how to calculate gold value based on purity, you can use our quick reference chart below:

Once you know what carat your gold is, you can use our online form to get a price for your gold.

What is a Troy ounce?

When keeping an eye on scrap gold prices in the UK, you'll frequently encounter the term 'Troy ounce'. A Troy ounce is an imperial unit of measure uniquely used to weigh precious metals, such as gold bullion bars or coins, across the global financial marketplace.

It's important not to confuse a Troy ounce with a standard kitchen ounce. A standard ounce weighs approximately 28.35 grams, whereas a single Troy ounce contains exactly 31.1035 grams of gold.

Knowing this distinction is highly beneficial when checking your weights at home, as it helps you get a more accurate initial idea of what your gold is worth before getting an official evaluation.

What if my jewellery doesn't have a hallmark?

A missing hallmark doesn't mean your gold is fake or valueless. The piece may have been purchased overseas under different regulations, or it might weigh less than one gram, such as earring backs or delicate chains, which makes it legally exempt from UK hallmarking.

If you're unsure about an item's authenticity, our experts are here to help you. Simply use our secure cash for gold service or visit your local UK H&T branch. We'll test the metal using our specialist equipment and provide a highly competitive valuation for genuine pieces.

What influences the price of gold?

Gold is an asset traded on the global marketplace, meaning its value is determined by a complex variety of social, economic and political factors. While market rates fluctuate constantly throughout the day, these movements are rarely random.

Understanding the predictable trends that cause the rise and fall of gold prices can help you navigate the market with confidence.

Why does the price of gold rise?

Investors view gold as a 'safe haven' asset because physical precious metals hold intrinsic worth and cannot lose their entire value during an economic collapse. Consequently, demand can surge during periods of geopolitical or financial uncertainty, driving global prices up. Keeping an eye on international news can help you identify these potentially lucrative selling opportunities.

Why does the price of gold drop?

The price of gold typically softens when the global economy is stable, and consumer confidence is high. During these periods, investors favour higher-risk, higher-yield investments like equities over steady, conservative assets. As investor demand for bullion temporarily decreases, market prices naturally adjust downward.

Is the price of gold going up or down?

Gold consistently follows historical patterns: it rises during times of economic ambiguity and drops when financial markets stabilise.

So, is it a good time to sell gold in the UK? Our expert team can provide up-to-the-minute valuations based on today's current market rates to help you maximise your return.

Why choose H&T to sell your scrap gold?

·         125+ years of heritage: Since 1897, we have been trusted precious metal specialists in the UK. You can rely on our vast experience and industry knowledge.

·         Transparent valuations: Our team uses expert knowledge to weigh and assess your items. We clearly explain how you calculate gold value based on weight and carat purity.

·         Flexible options: We make it simple to sell scrap gold. Fill out our online form or visit any of our 290+ UK branches for an immediate in-person assessment.

·         No obligation: Our valuation service is pressure-free. Our friendly, expert team is here to offer guidance, whether you choose to sell today or take time to consider.

HH on Trust Pilot said - "We had fantastic service from Jackie and Nicole in the Hamilton location, really quick evaluation of gold necklaces and rings. Gave us a good quote as well for the items we sold. Will definitely return to here in the future if selling any other gold. Staff were all really friendly and helpful." - 27th July 2026. 

How to sell your scrap gold with H&T

Looking for a great price for your scrap gold? Quickly and easily turn your unwanted jewellery into cash by following the three simple steps, and sell your gold with us today.

Do you have questions about getting the best cash for gold UK rates, or do you want to know more about how we evaluate your items? Get in touch with our friendly team online today, or visit your local branch for a free, face-to-face valuation.

The information provided is for general informational and educational purposes only and should not be considered financial, investment, legal, or tax advice. Market commentary reflects current opinions and conditions at the time of publication and may change without notice. The price of gold and other precious metals can rise as well as fall, and past performance is not a reliable indicator of future results. You should conduct your own research and, where appropriate, seek independent professional advice before making any investment decisions.