How to calculate the price of gold
The simplest method is to calculate the relative loss of gold. In order to know the approximate price of the gold you want, you must go through the following steps. We teach the steps with an example:
Let’s assume that you went to the market to buy a gold service, and the service you have chosen costs 28 million tomans according to gold sales. Now, to calculate its original price, you should ask the gold seller for the exact gram of service and the cost of making it per gram. We assume that the gold seller will tell you the weight of the service is 52 grams and 300,000 tomans for each gram.
First, multiply the exact weight of the desired service by today’s 18 carat gold price to determine the pure gold price of the service. Let’s assume that the price of 18 carat gold today is 450 thousand tomans, so as a result, the price of gold will be the service you want (52,300 grams multiplied by 450 thousand tomans will be 23 million and 535 thousand tomans).
In the second step, subtract the price you got from the price the gold seller told you, which is the result (28 million five hundred thousand tomans minus 23 million 535 thousand tomans becomes 4 million 965 thousand tomans)
From the simple calculations above, we conclude that if you buy this service and after some time intend to sell it, you will have to pay a loss of about 4 million and 965 thousand Tomans, of course, considering that gold sells for 10 to 30 thousand per gram of gold. They buy Tomans lower than the daily gold price, your loss is more than the amount that we calculated. In the following, we will teach you to find out whether the gold seller has taken more money from you than the normal price or not.
To calculate the final price of gold: it is enough to add 9% tax and 7% gold seller’s profit and the gold manufacturing fee you want to the pure gold price you calculated. We will calculate your hypothetical purchase for a better understanding example.
As we calculated, the gold price of your desired service was 23,535,000 Tomans, which with 9% value added tax would be 2,118,000 Tomans and 7% profit of gold sales would be 1,647,000 Tomans. And also, in the following, it is enough to multiply the weight of your gold by the production fee of the gold in order to determine the cost that you have to pay for the production fee. For this purpose, we multiply the weight of the desired service, i.e. 52,300, by 30 thousand tomans to get the fee. The construction of this service will be determined, and the result will be 1 million and 569 thousand tomans. Finally, to calculate the price of the desired service, we collect the obtained results together.
Gold price + 9% value added tax + 7% gold sales profit + manufacturing fee = final cost you have to pay
23 million and 535 thousand Tomans + 2 million and 118 thousand Tomans + 1 million and 647 thousand Tomans + 1 million and 569 thousand Tomans, which results: 28 million and 869 thousand Tomans
Important point: Please note that 9% value added tax was calculated after adding the price of gold with gold sales profit and manufacturing fee, but due to the complexity of the calculations, we calculated it along with other steps for you. If the tax price is finally Add calculations and the final price of the service you want will be 29 million and 120 thousand tomans.
Remember that gold sales can give you good discounts in 7% of its profit and manufacturing fee. We suggest that you don’t be shy at all in getting a discount from the gold seller, because you can get a discount of at least one million tomans in the purchase of a simple service with minimal bargaining.
Financial Tax Group of Iran Consultants Authority
https://t.me/joinchat/AcpK2knYpIN_CP3_3lJXcw
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This post is written by Arambnamkhda