How to calculate the price of a gold jewelry?
This calculation will hold true to all jewelry that is not mounted or attached with stones, pearl, ornament, etc.. First you must know how much the price of gold for today. We can go to www.kitco.com/gold.live.html, Kitco Inc.-Gold & Precious Metal Price Update or www.cnnfn.com/markets/commodities.html, CNNfn- Commodities Stock. From Kitco (October 20, 1996), gold is quoted at US$ 379.95 per ounce. One US$ = 26.265 Philippines Pesos (October 20, 1996). We first convert the price of gold to Philippines Pesos. 379.95 X 26.265= P 9979.38 per ounce. Next convert them to gram, from above information, one ounce equal 31.1 grams. P 9979.38/31.1= P320.88 per gram. P 320.88 is the cost of gold per gram minus profit. So you ask how about 18K or 20K and so on. Well it is easy, first determine how must 24K gold is contain in 18K gold. 18/24 = .75. Next P 320.88 X .75 we get an answer of P 240.66/gram for 18K. For the price above you must add about 5 to 10% for losses occur during the making of gol
