Gold Price per Gram 24K in Mali (999)

How to Calculate the Price of Gram 24K Gold in Mali

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., 2,674)

2. Convert the price of gold from United States dollar to West African CFA Franc

   Assume the exchange rate is 640 West African CFA Franc per United States dollar. Use the formula:

   Gold price in West African CFA Franc = Gold price in United States dollar × United States dollar to West African CFA Franc exchange rate
   Gold price in West African CFA Franc = 2,674 × 640 = 1,711,293 West African CFA Franc 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 West African CFA Franc / 31.1
   Price per gram of 24K = 1,711,293 / 31.1 ≈ 55,025.50 West African CFA Franc

4. Add the manufacturing cost

   Assume making charges are 2500 West African CFA Franc per gram. The final price is:

   Final price of Gram 24K gold = Price per Gram of 24K gold + Making charges
   Final price of Gram 24K gold = 55,025.50 + 2500 = 57,525.50 West African CFA Franc

Conclusion

The price of 1 Gram of 24K gold with making charges is approximately 57,525.50 West African CFA Franc.

Gold Making Charges in Mali

In Mali, the gold making charges constitute a significant aspect of the overall cost involved in the gold market. Typically, these charges are expressed as a percentage of the gram price of gold. As of the latest data, the making charges range from 5% to 10% of the market price per gram of gold. This percentage can vary based on factors such as the purity of the gold, the intricacy of the design in the case of jewelry, and the specific practices of individual jewelers.

In terms of absolute value, assuming the market price of gold is around 60,000 CFA francs per gram, the making charges could amount to an estimated 3,000 to 6,000 CFA francs extra per gram. These charges are important for both jewelers and consumers to consider, as they directly influence the final retail price of gold items. Additionally, fluctuations in global gold prices may also impact these making charges, making it essential for buyers to stay informed about current market trends.