Gold has long been known as a valuable asset and a symbol of wealth, beauty and success among Iranians, but calculating the gold rate may seem difficult for many people. You may be surprised if you know that when you want to buy ornamental gold, the amount you have to pay for it is about 25% more than the actual amount of gold, because in addition to the cost of gold, you have to include additional costs such as taxes, seller’s interest, and most importantly, the gold manufacturing fee. also pay Also, it is important that before making a purchase, Methods of distinguishing real gold from fake Know it so that you don’t lose your head.
What is the price of gold?
Gold making fee means the gold maker’s salary or profit, which is spent on design, manufacturing and ancillary costs. In fact, goldsmiths and goldsmiths add a fee to the price of each gram of gold for the manufacture and design of gold, which is the same as the manufacturing fee.
Of course, every gold does not have a production fee; Melted gold and second-hand gold are among the golds that you don’t need to pay any additional fees to buy. Do not forget that the production fee is different according to the characteristics of each piece of gold, and if the gold has a special design and model, the production fee will undoubtedly be higher.
Factors affecting the price of gold
Factors affecting the amount of gold wages are:
The complexity of the design
The more complex and delicate the jewelry design, the more time and skill is required to make it, and as a result, the price will be higher.
Metal type
In addition to gold, other metals such as silver or platinum may be used to make jewelry, each of which has a different wage rate.
weight of gold
The higher the weight of gold used in jewelry, the higher the price will be.
Wage day rate
The gold wage rate changes daily based on the fluctuations of the gold market and production costs.
Gold wage table
The following table will help you to know the highest gold production wage, how to calculate the wage and the usual wage for each gold.
Calculation of gold wages
| The name of gold | How to calculate wages | Usual wage rate |
|---|---|---|
| New gold jewelry | percentage, Toman or combined (percentage of gold price + construction fee) | 2 to 40 percent (depending on the type of design, brand, etc.) |
| Jewelry with stones | Separating stones and considering the price for gold (percentage, tomans or combined) | 2 to 40 percent (depending on the type of design, brand, etc.) |
| second hand gold | No (seller’s profit may be added to the price of gold) | No (seller’s profit may be added to the price of gold) |
| molten gold | No (seller’s profit may be added to the price of gold) | No (seller’s profit may be added to the price of gold) |
| gold coin | No (seller’s profit may be added to the price of gold) | No (seller’s profit may be added to the price of gold) |
| gold bar | Fixed amount multiplied by the weight of the bullion (announced annually by the Gold and Jewelry Association) | Fixed amount multiplied by the weight of the ingot (announced annually) |
How do gold dealers calculate the price of gold?
According to the current price of 18 carat gold, gold sellers calculate the cost of production; Of course, the pricing method of gold production is different according to the design, special cuttings and precious stones used. The more special the ornamental gold is and the more precious stones the goldsmith uses to make it, the higher the price of making it will certainly be.
It goes without saying that the goldsmith cannot increase or decrease the production fee by himself and considers it according to the goldsmith’s invoice.
Note: Don’t forget that you only have to pay the manufacturing fee to buy new gold.
The general method of calculating gold wages
When you want to buy gold, you have to calculate the value added tax and the profit of selling gold. As a result, the price of gold at the time of purchase is slightly higher and is calculated according to the following formula:
18 carat gold price = pure gold value + manufacturing fee + seller’s profit + tax
In this calculation;
- They get the price of raw gold from the quotation.
- The tax is paid only to the salary and profit of the seller.
- The production fee is equal to = gold weight x the production fee of 1 gram of gold, which is different for different golds.
- The gold seller’s profit is equal to = 7% of gold price + manufacturing fee
- 9% of the tax is also multiplied by the profit of gold sold and added to the amount.
3 special formulas for calculating gold wages
Gold sellers calculate the gold production fee in 3 different ways, so it is better to ask the gold seller about how to calculate the gold price before buying.
The wage of making gold as a percentage
Some gold sellers calculate the gold production fee as a percentage. For example, the gold seller tells you that the fee for making this piece is 20% and you have to pay 20% of the raw gold price as the fee and the final amount.
Of course, pay attention to the fact that when calculating the gold manufacturing fee as a percentage, the decrease or increase in the price of one gram of gold also affects the manufacturing fee. For example, if you want to buy one gram of 18 carat gold for 4 million tomans, the goldsmith’s commission is 20%; Therefore, you need to multiply 4 million Tomans by 20% to get the amount of gold production wages with a simple percentage calculation. According to this example, you have to pay 800 thousand Tomans as gold wages.
20% x daily price of one gram of 18 carat gold (for example 4 million Tomans) = 800 thousand Tomans
The price of making gold is in Tomans
Some gold sellers use the tomani calculation method to determine the amount of wages for making ornamental gold. This amount is usually not much, but in this method, special golds with various designs and precious stones have a higher production fee compared to ordinary gold.
The method of calculating the gold production fee in this method is that the gold seller considers a specific amount per gram of gold weight according to the effort he put into the design, cutting, formatting and visual beauty of the gold, and then, this amount It multiplies the gold weight and gives you the final price.
Compared to the percentage method, this method has the advantage that the increase and decrease in the price of gold does not change the production fee.
Gold production fee in Tomans and percentage
This method is a bit more complicated compared to the previous two methods, because the goldsmith uses both methods to calculate the manufacturing fee.
What is the percentage of the gold price = Toman rate + (percentage rate x raw gold rate)
For example, suppose you want to buy a piece of gold and the gold seller tells you that the price for making this work is 700 thousand Tomans and 10%. In this method, the goldsmith first calculates 10% of the raw gold price, then adds the obtained number to 700 thousand tomans. For example, if the price of each gram of raw gold is 4 million Tomans, the production fee is as follows:
1,100,000 = 700,000 + (0.1 × 400,000) = gold wage
What is the price of gold?
Gold pieces have different models and decorations, and for this reason, when buying and selling, the price of making them is different from each other.
The reward of gold with stones
When you buy a piece of gold with a stone, you have to pay the cost of the total weight of the piece based on 18 carat gold, but when selling, they will deduct the weight of the stone from the weight of the gold and pay you the cost.
In fact, to buy gold, you pay for the weight of the stone, but to sell, you do not make any profit.
Second-hand gold production fee (free gold)
Second-hand gold is known as free gold in the gold industry, and if you intend to buy it, you do not need to pay the production fee and the fee has already been paid.
Low cost gold
Low-cost gold is gold that has a simple design and you pay a lower manufacturing fee to buy it.
Should I invest in paid gold or free gold?
If you are looking at buying gold as an investment, do not go for precious or ornamental gold, because although it is profitable in the long term, it will definitely cause losses in the short term. The best thing is to buy melted gold from reputable gold shops with the store’s official seal and invoice.
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