Gold Price per Ounce 21K in Senegal (875)

How to Calculate the Price of Ounce 21K 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., 2,719)

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 = 2,719 × 623 = 1,692,927 West African CFA Franc 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 = 1,692,926.72 × (21 / 24) ≈ 1,481,310.88 West African CFA Franc

4. Add the manufacturing cost

   Assume making charges are 2500 West African CFA Franc 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 = 1,481,310.88 + 77,750.00 = 1,559,060.88 West African CFA Franc

Conclusion

The price of 1 Ounce 21K gold with making charges is approximately 1,559,060.88 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.