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Help calculating price of gold for 22k piece

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Ideal_Rock
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Aug 15, 2004
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My local B&M is having a trade-in event this week. What it means is I get to spring clean my jewelry box and apply the quoted "worth" to a new white gold/diamond/tahitian pearl lariat necklace I''''ve designed.

Here''''s where I need your help. Last year on a business trip to India, DH bought me a 22k gold chain and pendant. Though the chain is neat, the pendant is not at all what I''''d wear. So, I want to trade it in.

How can I find (or can some benevolent soul calculate) the current price per ounce for 22k gold?



~much thanks, to be paid with pictures of new pearl necklace upon completion~
 

Garry H (Cut Nut)

Super_Ideal_Rock
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current gold price times 22 divided by 24.

But if i were the jeweller i would have a discounting factor of about 20-30% in case the gold is not as stated and to cover refining and other costs.
 

The Joker

Shiny_Rock
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Oct 25, 2003
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Ideal_Rock
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Thanks so much!!

So, as I figure:
current price of $575
x 22
12650

divided by 24 = $527 per ounce

Respecting Gary''s comment about purity and refining considerations, that still indicates that I can expect roughly around $400 per ounce for this butt ugly necklace!!
 
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