To calculate the value of your scrap gold jewelry, you need to know the current price of gold, the weight of your jewelry, and the karat, or measure of what part of the total weight is comprised of gold. Look closely to determine the karat of gold, and use a gram scale to determine the total weight of your gold object. Divide the current gold price per ounce by 31.8 to determine today’s gold price per gram. Then, multiply this number by the fineness of the gold by first dividing its karat by 24. So, 10 karat gold becomes 10/24 times today’s gold price per gram. This will give you the current price of 10 karat gold for every gram of total weight. Multiply this number by the weight of your gold object, and you’ll be able to determine what your scrap gold is worth on the market. There are also online calculation tools that will determine this price for you.