A ounce of gold costs 500dollars
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One ounce of pure gold is in 1 ounce of pure gold dust.
12k gold would be worth about $487.50 per ounce.
An ounce of gold looks like a raise or flatten piece of a gold, it is also sometimes referred to as a gold nugget.
The unit used in weighing gold is the troy ounce; 1 troy ounce is equivalent to 31.1 grams.
24 karat gold is pure gold. So, 18 kt gold is 18/24th's pure or roughly 75% pure gold. If Gold is selling for $1000 an ounce, $750 an ounce might be a fair price for 18 Kt gold. Much of the gold used in jewelry though has other materials that are valuable. Platinum is in much of this gold (as an example). If this is the case $990 an ounce for this gold might still be very low in terms of real value. The best method is to take your gold to a local appraiser and get a fair market evaluation. NEVER send your gold to a broker in the mail, unless you don't care what you get for it.