Gold Price per Gram 14K in Senegal (585)

How to Calculate the Price of Gram 14K Gold in Senegal

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., 2,718)

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

   Assume the exchange rate is 623 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 = 2,718 × 623 = 1,692,237 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 = 1,692,237 / 31.1 ≈ 54,412.75 West African CFA Franc

4. Convert the price from 24K to 14K gold

   Since 14K gold is 14 parts gold out of 24, the price for 14K gold is:

   Price per Gram of 14K gold = Price per Gram of 24K gold × (14 / 24)
   Price per Gram of 14K gold = 54,412.75 × (14 / 24) ≈ 31,722.63 West African CFA Franc

5. Add the manufacturing cost

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

   Final price of Gram 14K gold = Price per Gram of 14K gold + Making charges
   Final price of Gram 14K gold = 31,722.63 + 2500 = 34,222.63 West African CFA Franc

Conclusion

The price of 1 Gram of 14K gold with making charges is approximately 34,222.63 West African CFA Franc.

Gold Making Charges in Senegal

In Senegal, the gold making charges play a significant role in determining the final price of gold jewelry and products. Typically, these charges can range from 10% to 20% of the gram price of gold, depending on various factors such as the complexity of the design, the type of craftsmanship involved, and the jeweler’s reputation.

For instance, if the current market price of gold is approximately 30,000 XOF per gram, the making charges could amount to an additional 3,000 XOF to 6,000 XOF per gram. Therefore, the total price per gram including making charges could range from 33,000 XOF to 36,000 XOF.

This percentage can vary significantly in different markets across the country, and customers are often advised to shop around and compare prices before making a purchase. Understanding these making charges can help buyers make informed decisions and better appreciate the craftsmanship and effort that goes into producing quality gold jewelry in Senegal.