Gold Price per Ounce 24K in Israel (999)

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

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., 2,715)

2. Convert the price of gold from United States dollar to Israeli Shekel

   Assume the exchange rate is 4 Israeli Shekel per United States dollar. Use the formula:

   Gold price in Israeli Shekel = Gold price in United States dollar × United States dollar to Israeli Shekel exchange rate
   Gold price in Israeli Shekel = 2,715 × 4 = 9,694 Israeli Shekel per ounce 24K

3. Add the manufacturing cost

   Assume making charges are 65 Israeli Shekel per gram. The final price is:

   Making charges = making charges per gram × 31.1
   Making charges = 65 × 31.1 = 2,021.50
   Final price of Ounce 24K gold = Price per Ounce of 24K gold + Making charges
   Final price of Ounce 24K gold = 9,693.57 + 2,021.50 = 11,715.07 Israeli Shekel

Conclusion

The price of 1 Ounce 24K gold with making charges is approximately 11,715.07 Israeli Shekel.

Gold Making Charges in Israel

The making charges for gold jewelry in Israel vary depending on several factors such as the complexity of the design and the craftsmanship involved. Typically, these charges are calculated as a percentage of the gold price per gram. In Israel, the making charges usually range from 10% to 25% of the gold price, depending on the intricacy of the piece.

For instance, if the current gold price is approximately 250 ILS per gram (Israeli Shekels), the making charges could amount to between 25 ILS and 62.5 ILS per gram. This means that when purchasing gold jewelry, a buyer should consider not only the gold price but also the additional making charges that may be applied at the time of sale.

Moreover, high-end or custom-designed pieces may incur higher charges, while simple designs might attract lower fees. Overall, it is advisable for consumers to inquire about these charges beforehand to understand the total cost of their gold jewelry purchases.