Gold Price per Ounce 24K in Azerbaijan (999)

How to Calculate the Price of Ounce 24K Gold in Azerbaijan

1. Find the current price of gold per ounce 24K

   Check the gold price in United States dollar per ounce 24K from a trusted source (e.g., 2,673)

2. Convert the price of gold from United States dollar to Azerbaijani manat

   Assume the exchange rate is 2 Azerbaijani manat per United States dollar. Use the formula:

   Gold price in Azerbaijani manat = Gold price in United States dollar × United States dollar to Azerbaijani manat exchange rate
   Gold price in Azerbaijani manat = 2,673 × 2 = 4,544 Azerbaijani manat per ounce 24K

3. Add the manufacturing cost

   Assume making charges are 100 Azerbaijani manat per gram. The final price is:

   Making charges = making charges per gram × 31.1
   Making charges = 100 × 31.1 = 3,110.00
   Final price of Ounce 24K gold = Price per Ounce of 24K gold + Making charges
   Final price of Ounce 24K gold = 4,543.51 + 3,110.00 = 7,653.51 Azerbaijani manat

Conclusion

The price of 1 Ounce 24K gold with making charges is approximately 7,653.51 Azerbaijani manat.

Gold Making Charges in Azerbaijan

In Azerbaijan, the gold making charges can significantly influence the final price of gold jewelry. Typically, these charges are expressed as a percentage of the gram price of gold. Currently, making charges range from 15% to 20% of the gold price per gram, depending on various factors such as the complexity of the design, craftsmanship, and the retailer's policies.

To provide a clearer picture, if the price of gold per gram is approximately 2,500 AZN (Azerbaijani Manat), the making charges would amount to around 375 AZN to 500 AZN per gram. This indicates that customers should be prepared to pay a premium on top of the gold's intrinsic value due to these charges.

It's important to consider these additional costs when purchasing gold jewelry in Azerbaijan, as they can affect overall investment and purchasing choices. Understanding these charges ensures that buyers are informed about what they are paying for, beyond just the gold content itself.