99.9% pure gold is 24 carat (24K). It represents the highest level of purity, often referred to as ".999 fine" or "24K" gold. Due to its high purity, 24K gold is soft, malleable, and primarily used for bullion coins, bars, and investment purposes rather than daily-wear jewelry.
999 gold: 24 carat pure gold. Pure gold is 24 carat - i.e. 24/24 parts gold by weight - and therefore has a fineness of 999.9‰ (999.9 parts per thousand).
As of January 19, 2026 at 02:35 PM ET, the live Gold spot price for 1 ounce of Gold in U.S. dollars (USD) is $4,685.15, 1 gram of Gold is $150.63 and 1 kilogram of Gold is $150,631.07.
Simply put: • 999 Gold refers to 99.9% pure gold. 999.9 Gold (or “four nines fine”) is purer at 99.99%. To put it in simpler words, 99.9 gold is a nice cup of coffee, while 99.99 is that same cup of coffee with artisanal cream on top. Both are wonderful, but one is a touch more decadent.
This is usually quoted in thousandths, 999.9 or higher would be the equivalent of 24 carat, a purity of 99.99%. 22k gold purity is equivalent to 916.7 fineness, or 91.67% pure gold.
9999 gold | 999 gold | 995 gold | fine gold | what is fine gold | 9999 vs 999 vs 995 | Gold IQ
Do I have to declare gold to HMRC?
Yes, you must declare gold to HM Revenue and Customs (HMRC) if you're carrying over £10,000 in value into the UK; otherwise, your obligation depends on whether you're selling it (report profits above the Capital Gains Tax allowance) or if you're a trader, but you must also keep records for any gold you import or sell, especially for tax or VAT purposes.
In this system, 24-karat gold would have a fineness of 1.0 (meaning it's completely pure), while 22-karat gold has a fineness of about 0.916 (22 parts gold out of 24). Gold of this purity is often labelled as 999.9 fineness, indicating its virtually pure 24-karat gold.
Gold purity is measured in karats, with 24 karat (24k) representing pure gold. Most gold scrap comes from jewellery made with lower karats, such as 10k, 14k, or 18k. The higher the karat, the more pure gold it contains, and the higher the price you'll get.
From a fundamental side, a major global investment bank – Goldman Sachs - has just raised its end‑2026 gold price forecast from $4,900 to $5,400 per ounce, explicitly citing private‑sector and emerging‑market central bank diversification into gold as the main driver.
The key difference between 22K and 24K gold lies in their purity. 24K gold is 99.9% pure, making it the purest form of gold, while 22K gold contains 91.6% pure gold, with the remaining 8.4% made up of alloy metals like copper or silver for added strength.
24k gold contains 99.9% pure gold and experiences no tarnish, but it's very soft and easily damaged. You'll typically find this purity level in investment coins and bars rather than jewellery designed for daily wear.
When it comes to the durability of 916 vs 999 gold, it is clear that 916 gold is a better choice for your everyday jewellery. While 999 gold has higher purity, its softness makes it less suited for intricate designs or jewellery that will be worn regularly as it may not withstand the daily wear and tear.
24K Gold: It is the purest form of gold, containing 99.9% gold with no other metals. It is bright yellow and primarily used for investment purposes, such as coins and bars. However, because of its softness, it is not ideal for jewellery.
Neither 18k nor 24k gold is universally "better"; it depends on your needs: 24k is 99.9% pure, highly valuable, bright yellow, but too soft for daily wear, making it great for investment or special pieces; 18k is 75% gold alloyed with other metals, making it significantly more durable, scratch-resistant, and ideal for everyday jewelry, though less pure and expensive than 24k.
The short answer is no, gold is not fully exempt from inheritance tax (IHT). However, gold can provide some significant tax benefits, especially when it comes to capital gains and VAT.
Do you have to pay capital gains if you sell gold?
If you hold the gold for less than 12 months then any gains are taxed as 'ordinary income', if you sell after a year then any profits are taxed as 'long-term capital gains'. At the time of writing this is 28%.
Because your trade-in eligible jewellery was purchased at Peoples Jewellers, our experts will be able to offer you the full value of the original purchase price (charges like tax and shipping are excluded). Store credit cannot be issued for a trade-in, so your new jewellery must be selected at the time of the upgrade.
999 gold is often preferred for bullion bars, coins and long-term value holding because it contains almost pure gold. It commands a higher per-gram value and is easier to price against the global gold market.
