How the gold business makes a profit
The price of gold jewelry includes not only the value of the precious metal, but also the cost of processing and of course the profit margin of the dealer or jeweler.
In a random sample, we observed that buyers of small pieces of jewelry costing around 200 to 300 euros only receive gold worth a maximum of half the jewelry price. For some jewelers, the gold value is even less than 20 percent of the price. Because there are very serious price differences here, we advise you to to find out exactly what a gram of gold currently costs.
The gold price is published in newspapers and on the websites of stock exchanges or direct banks; it then only has to be converted into euros using the exchange rate that is also published. The price for one gram of gold was around 46 euros in March 2021. Since you do not get pure gold with 585 jewelry, one gram of such jewelry is usually worth a little less.
One gram of 585 gold is not worth 46 euros, but "only" 58.5 percent of it, or 27 euros. Ask the dealer about the weight and the percentage of fine goldif you want to avoid paying a multiple of the actual metal value for your piece of jewelry.
Note: Some alloys are also valuable, it depends on what metals the mixture is made of. Ask the dealer here as well.
Because of the sometimes high surcharge on the actual gold value jewelry is less suitable for investment than gold coins or bars. However, jewelry can also come up with an intangible value: a beautifully crafted pendant is probably better suited as a gift than a coin.
- Indigestion causes constipation or vice versa
- What the Hulk can't smash
- Are all passports a standard size?
- Anorexia exacerbates the depression
- How can you describe the word relation
- Curious people live longer
- What would Jesus think of weapons?
- What does a nation's GDP depend on?
- Do Chinese Indonesians discriminate against native Indonesians
- Why is Saudi Aramco's trading important
- Franciscan Solutions Pvt Ltd is counterfeit company
- How do people make money from webinars
- What will happen if China attacks Japan?
- God forgives premeditated sins
- Why are people immature
- Who led the Eastern Roman Empire?
- How can I pay for sex
- The most important thing is money
- What comes first, health or happiness
- What is the antidote to lead poisoning
- What is it like working at Schlumberger in India
- How do I find tenants to rent
- Can you describe yourself in 13 words?
- What is Indian Vegetarian Diet for Men