How to Calculate Gold Price Today per Ounce
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| pixabay: gold price |
Investing in gold and how to calculate the price of gold in real-time
In ancient times, investment options were very limited, therefore, some people chose to do gold as an investment tool. In addition to being an investment, gold is also often used as jewelry. It is soft, easy to forge, and not rusty, which makes this metal very popular among most people. It is expected that 50% of gold consumption is used as jewelry, 40% for investment, and 10% from others for production purposes.
It can be said that investing in precious metals is very simple, we just need to buy in a gold shop and then sell them after some time. Gold is also one of those investments where we can see your investment/physical form. Many women analyze who buy gold to use the same investment. This is not entirely true and is not entirely wrong, considering the price of gold over time is in an upward trend.
The chart above shows the price trend of precious metals is quite consistent. But in 2014-2017 the price of gold moved quite flat. The data shown in the chart above is data in USD and with OZ units. USD and OZ units are often used to determine the price of gold, and we can find this number on television channels or websites related to investments or commodities.
Here we will try to calculate the price of gold in real terms according to the market price.
Gold Price May 28, 2017 = USD 1,267
1 oz / troy ounce = 31.1 grams
The price of gold in USD:
= USD Gold Price: 31.1
= 1,267: 31.1
= 40.739 USD.
Gold for investment
From the top chart, we can see that gold is one of the options for investment. In addition to offering price increases, gold is also often used as an instrument of inflation-resistant coverage so that our assets are not eroded by time or inflation. The ease of exchanging gold into cash is the advantage of gold, when we need money, we can sell directly to the store at the existing market price.
The disadvantage of investing in gold is in storage. Unlike deposits or actions that are just Bilyets or our IDENTITY cards, gold has a physical form that must be kept from theft. The option to protect physical gold is to use SDB (secure) services provided by the bank. But there are tariffs charged on us and, in general, other needs are required, such as being a client at a certain period of time.
What happened to the gold jewelry?
Gold sold as jewelry generally has a level of 75%, where the remaining 25% is other materials. To calculate the price is quite easy, that is, with the price of gold multiplied by 0.75. The price of gold is 75% = 40,739 USD x 0.75 = 30,554 USD / gram. In addition to the cost of gold, stores also always use gold services, so we will not find the price of gold jewelry right according to what we specify.
So gold as jewelry, is it included in the investment?
Gold, because the jewelry will be difficult to categorize as an investment considering they charge us the cost of performing services according to the aesthetic value of the jewelry. The greater the aesthetic value, the highest the service charge. But when we reveal this jewelry, of course, the shop owner will eliminate the cost of carrying out the service and will only return the gold value according to the weighing weight.