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What is a ‘Carat’ in gold parlance?

This word originally comes from ‘carob bean’ via the Greek ‘keration’. The amount of carats describes the amount of gold content in an object. A carat is one 24th. The minimum marketable gold can be is 21.6 carats which equates to 900/1000 gold. 24 carat gold is around 999/1000, or 99.9% pure.