Gold Price per Gram 21K in Iraq (875)

How to Calculate the Price of Gram 21K Gold in Iraq

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 Iraqi Dinar

   Assume the exchange rate is 1,316 Iraqi Dinar per United States dollar. Use the formula:

   Gold price in Iraqi Dinar = Gold price in United States dollar × United States dollar to Iraqi Dinar exchange rate
   Gold price in Iraqi Dinar = 2,691 × 1,316 = 3,540,329 Iraqi Dinar 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 Iraqi Dinar / 31.1
   Price per gram of 24K = 3,540,329 / 31.1 ≈ 113,836.95 Iraqi Dinar

4. Convert the price from 24K to 21K gold

   Since 21K gold is 21 parts gold out of 24, the price for 21K gold is:

   Price per Gram of 21K gold = Price per Gram of 24K gold × (21 / 24)
   Price per Gram of 21K gold = 113,836.95 × (21 / 24) ≈ 99,607.33 Iraqi Dinar

5. Add the manufacturing cost

   Assume making charges are 2500 Iraqi Dinar per gram. The final price is:

   Final price of Gram 21K gold = Price per Gram of 21K gold + Making charges
   Final price of Gram 21K gold = 99,607.33 + 2500 = 102,107.33 Iraqi Dinar

Conclusion

The price of 1 Gram of 21K gold with making charges is approximately 102,107.33 Iraqi Dinar.

Gold Making Charges in Iraq

The gold making charges in Iraq vary based on several factors, including the type of jewelry being crafted and the current market dynamics. Typically, these charges are expressed as a percentage of the gold price per gram, reflecting the costs associated with labor, design, and craftsmanship.

As of recent data, the making charges for gold jewelry in Iraq generally range between 5% to 15% of the gram price of gold. For instance, if the market price of gold is around 80,000 IQD per gram, the making charge could be anywhere from 4,000 IQD to 12,000 IQD per gram, depending on the complexity of the design and the skills required for its creation.

These charges can significantly influence the final cost of gold jewelry for consumers in Iraq. It is essential for buyers to inquire about these charges explicitly before making a purchase, as they can vary widely between different jewelers and designs, impacting the overall value of the jewelry they intend to buy.