Gold Price per Ounce 21K in Japan (875)

How to Calculate the Price of Ounce 21K Gold in Japan

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 Japanese Yen

   Assume the exchange rate is 158 Japanese Yen per United States dollar. Use the formula:

   Gold price in Japanese Yen = Gold price in United States dollar × United States dollar to Japanese Yen exchange rate
   Gold price in Japanese Yen = 2,673 × 158 = 422,023 Japanese Yen per ounce 24K

3. 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 Ounce of 21K gold = Price per Ounce of 24K gold × (21 / 24)
   Price per Ounce of 21K gold = 422,023.50 × (21 / 24) ≈ 369,270.56 Japanese Yen

4. Add the manufacturing cost

   Assume making charges are 2500 Japanese Yen per gram. The final price is:

   Making charges = making charges per gram × 31.1
   Making charges = 2500 × 31.1 = 77,750.00
   Final price of Ounce 21K gold = Price per Ounce of 21K gold + Making charges
   Final price of Ounce 21K gold = 369,270.56 + 77,750.00 = 447,020.56 Japanese Yen

Conclusion

The price of 1 Ounce 21K gold with making charges is approximately 447,020.56 Japanese Yen.

Gold Making Charges in Japan

In Japan, gold making charges can significantly impact the overall cost of purchasing gold jewelry. Typically, these charges are expressed as a percentage of the gram price of gold, reflecting the craftsmanship and design intricacies involved in creating jewelry pieces. On average, the making charges can range from 10% to 20% of the gold price per gram.

For example, if the current gold price in Japan is approximately 7,000 JPY per gram, the making charges could add between 700 JPY and 1,400 JPY per gram to the final price, resulting in a total cost of 7,700 JPY to 8,400 JPY per gram for consumers. Factors such as the type of jewelry, the brand, and the complexity of the design can influence the exact making charges.

Moreover, local jewelers may have different pricing structures, leading to variations in making charges. Buyers in Japan should be aware of these additional costs when purchasing gold jewelry to make informed decisions and compare different options effectively.