Gold Price per Gram 14K in Canada (585)

How to Calculate the Price of Gram 14K Gold in Canada

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., 2,691)

2. Convert the price of gold from United States dollar to Canadian Dollar

   Assume the exchange rate is 1 Canadian Dollar per United States dollar. Use the formula:

   Gold price in Canadian Dollar = Gold price in United States dollar × United States dollar to Canadian Dollar exchange rate
   Gold price in Canadian Dollar = 2,691 × 1 = 3,881 Canadian Dollar per ounce 24K

3. Calculate the price per gram of 24K gold

   Since 1 ounce equals 31.1 grams, the price per gram of 24K gold is:

   Price per gram of 24K = Gold price in Canadian Dollar / 31.1
   Price per gram of 24K = 3,881 / 31.1 ≈ 124.80 Canadian Dollar

4. Convert the price from 24K to 14K gold

   Since 14K gold is 14 parts gold out of 24, the price for 14K gold is:

   Price per Gram of 14K gold = Price per Gram of 24K gold × (14 / 24)
   Price per Gram of 14K gold = 124.80 × (14 / 24) ≈ 72.76 Canadian Dollar

5. Add the manufacturing cost

   Assume making charges are 50 Canadian Dollar per gram. The final price is:

   Final price of Gram 14K gold = Price per Gram of 14K gold + Making charges
   Final price of Gram 14K gold = 72.76 + 50 = 122.76 Canadian Dollar

Conclusion

The price of 1 Gram of 14K gold with making charges is approximately 122.76 Canadian Dollar.

Gold Making Charges in Canada

Gold making charges refer to the costs associated with transforming raw gold into jewelry or other finished products. In Canada, these charges can greatly vary depending on factors such as craftsmanship, design complexity, and the retailer's reputation. Typically, making charges are expressed as a percentage of the gold's gram price, which can range from 5% to 20%.

For example, if the current price of gold is approximately CAD 80 per gram, the making charges might be between CAD 4 to CAD 16 per gram. This means, in total, the cost of a gram of gold jewelry could range from about CAD 84 to CAD 96, depending on the intricacies involved in the making process.

Consumers should take these charges into account when purchasing gold products, as they can significantly influence the final price. Additionally, it is important to compare different retailers and assess the quality of craftsmanship to ensure that the making charges align with the value of the jewelry being purchased.