Gold Price per Ounce 24K in China (999)

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

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., 2,687)

2. Convert the price of gold from United States dollar to Chinese Yuan

   Assume the exchange rate is 7 Chinese Yuan per United States dollar. Use the formula:

   Gold price in Chinese Yuan = Gold price in United States dollar × United States dollar to Chinese Yuan exchange rate
   Gold price in Chinese Yuan = 2,687 × 7 = 19,757 Chinese Yuan per ounce 24K

3. Add the manufacturing cost

   Assume making charges are 500 Chinese Yuan per gram. The final price is:

   Making charges = making charges per gram × 31.1
   Making charges = 500 × 31.1 = 15,550.00
   Final price of Ounce 24K gold = Price per Ounce of 24K gold + Making charges
   Final price of Ounce 24K gold = 19,757.03 + 15,550.00 = 35,307.03 Chinese Yuan

Conclusion

The price of 1 Ounce 24K gold with making charges is approximately 35,307.03 Chinese Yuan.

Gold Making Charges in China

In China, gold making charges are a significant consideration for consumers and investors in the jewelry market. Typically, these charges are expressed as a percentage of the gold's gram price. On average, gold making charges range from 5% to 20% of the gold price per gram. This percentage can vary depending on factors such as the complexity of the design, the brand, and whether the piece is custom-made.

To provide some context in absolute terms, if the gold price is approximately 400 yuan per gram, the making charges could range between 20 yuan and 80 yuan per gram. This means that for a piece of jewelry priced at 400 yuan for the gold alone, one might pay an additional 20 to 80 yuan for the craftsmanship involved in creating the item.

Understanding these charges is crucial for consumers, as they impact the overall cost of purchasing gold jewelry. While higher making charges may correlate with superior craftsmanship and design, buyers should weigh these against their budget and the perceived value of the piece.