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Jewelers' Math for Dummies like me.

lambskin

Ideal_Rock
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Aug 22, 2012
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Pure gold is a little over $1300 an ounce today. Hypothetically, if I were to buy an ounce and wanted to make a pure gold bracelet that weighed an ounce the cost of the gold would be $1300. If I wanted to make a one ounce 22K gold bracelet that means that I would add other metals to the gold and thus the gold price should be lower. Likewise 18K and 14K would be even less. So how do I figure out the actual cost of gold that is not pure 24K gold off the international trading price? I sense ratios here and I am not a math wizard. Of course I realize that there are other factors involved in making the bracelet but there has to be some formula out there that is pretty consistent just regarding the gold content.. :read:
 

lambskin

Ideal_Rock
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Thank you Dancing Fire!!! :clap: I have been trying to figure this out!! :wall: :wall: I am pouring a virtual Martell Cordon Blue for you as my thanks...until we meet at some GTG someday so I can thank you in person. :appl:
 

Dancing Fire

Super_Ideal_Rock
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lambskin|1406334922|3720729 said:
Thank you Dancing Fire!!! :clap: I have been trying to figure this out!! :wall: :wall: I am pouring a virtual Martell Cordon Blue for you as my thanks...until we meet at some GTG someday so I can thank you in person. :appl:
Thanks for the drink!.. :wavey:
 

Lady_Disdain

Ideal_Rock
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One more thing. The market price is usually for certified deposit (not necessarily physical delivery) and a minimum quantity (I am not sure what the minimum in the US is). The OTC rate (small volume, physical delivery) is usually higher.

For example, this supplier (Rio Grande) shows the spot price at $1,340/ounce, based on the price at noon. However, the price for 24kt casting grain is $74.01 per pennyweight, or $1480 per troy ounce.
http://www.riogrande.com/Product/24K-Yellow-Gold-Casting-Grain/608700?Pos=2

The milled sheet is a little higher, at $76 per pennyweight.
http://www.riogrande.com/Product/24K-Yellow-Gold-Sheet-30-Ga-1-4-Hard/608030?Pos=3
 
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