Gold Price For The Best Rates In Israel
How much gold is worth ?
Gold transactions have been documented since ancient history. It is believed that gold was one of the first metals to be used by mankind and to this day gold it is still a scarce resource in nature, which keeps its value high. While most of us have owned gold some point or another in our lives, it is not always used or worn in the same way as when we first received it. Maybe it is out of style, maybe it is not a practical object to own or maybe you just don’t really like it anymore. All of these are valid reasons people decide to sell their old gold, and any and all reasons are valid. Why not sell something that can earn you money for cash – that you can use. But how do we know how much we can earn from our gold and what is that current price of gold per gram?
Gold per gram on commodity exchanges
Gold has been throughout history and still is presently a reliable commodity. In the past people invested in gold instead of the ever shifting global market, many people acquired the knowledge that the cost of gold remains generally stable. This stability made people want to invest in gold and want to exchange it with others, especially in times of war and fear when the values of other currencies changed frequently or drastically. Please note that the purest form that gold was being invested in was 24 karat gold in new condition.
24 karat gold jewelry
Mercantile exchange determined the price of an ounce of gold. The weight of an ounce is 31.104 grams and this is when the gold is 24 karats. However it is common that the gold that is produced and sold is not always pure 24 karat gold jewelry. This is usually because in the physical state of gold it is very flexible and soft, almost like clay. So when we create a piece of jewelry, in order to keep its shape we mix the gold with other metals. The mixing of metals, which are called alloys, determines the purity of the gold. If these alloys were used in 50% of the amount of pure gold it is now a 12 karat gold product.
Calculate the price of gold per gram
In the gold industry the standard process takes an alloy of 58.3% gold and the rest from other metals and thus produces 14 karat gold. So for example, if the price of gold on the Stock Exchange is $1,316 dollars, the calculation would be as follows: $ 1,316 ( per gold ounce) / 31.104 = $ 42.31 ( per gram of gold 24 karats) * 58/3 / 100 (58.30) * 3.53 ( exchange USD ) = 82.62 NIS ( per 1 gram 14K gold). Keep in mind that this price of ₪ 82.62 per gram of 14 karat gold is the price of it when it is new and that the price for old gold will be lower. There is a complex process old gold needs to go through which involves melting and recycling in order to create new raw material from it.