Gold Price per Gram 24K in Namibia (999)

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

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., 2,721)

2. Convert the price of gold from United States dollar to Namibian Dollar

   Assume the exchange rate is 18 Namibian Dollar per United States dollar. Use the formula:

   Gold price in Namibian Dollar = Gold price in United States dollar × United States dollar to Namibian Dollar exchange rate
   Gold price in Namibian Dollar = 2,721 × 18 = 47,647 Namibian Dollar 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 Namibian Dollar / 31.1
   Price per gram of 24K = 47,647 / 31.1 ≈ 1,532.06 Namibian Dollar

4. Add the manufacturing cost

   Assume making charges are 50 Namibian Dollar 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 = 1,532.06 + 50 = 1,582.06 Namibian Dollar

Conclusion

The price of 1 Gram of 24K gold with making charges is approximately 1,582.06 Namibian Dollar.

Gold Making Charges in Namibia

In Namibia, gold making charges can significantly affect the overall cost of purchasing gold jewelry and other items. These charges are typically expressed as a percentage of the gram price of gold and can vary widely depending on the jeweler and the complexity of the design. On average, these making charges can range from 10% to 30% of the gram price.

For instance, if the current gold price is approximately NAD 1,000 per gram, a 20% making charge would add an additional NAD 200, bringing the total cost to NAD 1,200 per gram. Therefore, when considering purchasing gold in Namibia, consumers should be aware that the making charges can add a significant amount to the final price.

It is crucial for buyers to inquire about the specific making charges before finalizing their purchase, as this will ensure they understand the total expenditure. Additionally, comparing different jewelers may provide better insight into the varying making charges and help in making an informed decision.