In this post, we discuss how to calculate gold jewelry prices in Bangladesh. We are discussing step by step how you can calculate, what is the gold price in BD. Without any time wasted, read the full article below.
It’s always a pleasure buying and wearing gold jewellery, but we only look at the weight and price of it when paying our bills. They’re starting as pieces of jewellery that we’ve been wanting to add to our collection. However, as with investments, they have an added value, although it is only when we look at gold coins or bars that we begin to think about their investment value.
How to calculate gold?
Before buying and selling gold you need to know about how to calculate gold. Whatever the reason, gold’s worth a great deal on the markets.
The value of gold is determined by a number of factors, including the prevailing market prices, the purity of the gold itself, and the weight of the gold itself. When it comes to buying gold jewellery, the price also includes making charges and the goods and services tax.
So you need to know how to calculate gold jewellery. In the first place, you need to know the gold price in Bangladesh recently.
The formula for how to calculate gold Ornaments:
Price of gold jewellery = ( Gold Price × Weight of gold) + Making Charges + GST
This is the main formula using this you easily know how to calculate gold price in Bangladesh for jewelry.
Where,
Gold Price: Depends on karat (22k,21k,18K..) and current gold prices and global business condition of gold.
Weight of Gold: The gold weight is measured on the weighing scale. Gold weighing scales are a device that is capable of accurately weighing metal, including silver and other valuable metals.
Making Charges: Making charges can be 3% to 10% of [Gold price x Weight of gold]. As long as it depends on the seller, location and manufacturer’s skills.
GST: The Goods and Services Tax is a tax on the cost of goods and services; it’s also a consumption tax.
Calculate 22K Gold Jewelry Price:
You’re going to have to compute the price, as we did above if you want to buy a 22k bracelet of 8g gold. How to calculate gold jewelry 22k karat?
At present,
22K Gold price in Bangladesh is 9640 BDT/Gram.
Now,
The weight of Gold is 8g.
Gold Price x Weight of Gold =(9640 x 8) = 77120 Tk.
Making charges can be 3% to 10% of this price. Let, the making charges is 6% of this price. So
Making Charges = 77120 x (6/100) = 4628 Tk.
Including Making charges the price will be (77120 + 4628 ) = 81748 Tk.
The Goods and Services Tax is a tax on the cost of goods and services; it’s also a consumption tax.
So, including 3% GST of this price = 81748 x (3/100) = 2452 Tk.
Final Price of 22K 8g Bracelet = ( Gold Price x Weight of Gold) + Making charges + GST
=77120 + 4628 + 2452 Tk
= 84200 Tk
Different Types of Gold Jewellery :
Earrings: There are different types of earring designs. Such as Drop Earrings, Hoop Earrings, Cluster Earrings, Stud Earrings, Threader Earrings, Cuff Earrings etc.
Rings: A ring is a round band and is usually made of metal and worn as ornamental jewellery.
Pendants: A piece of jewellery hanging from a chain that’s been worn around the neck.
Necklaces: An ornamental chain or string of beads, jewels, or links worn around the neck.
Bracelets: An ornamental ring, loop or chain worn on the wrist or hand.
Nose Pins / Rings: The meaning of NOSE RING is a hoop-like piece of jewellery worn on the nose.
Bangles: Hard bracelets that are made of metal, wood, glass or plastic. In India, South Asia, the Arabian Peninsula and Africa these ornaments are mainly worn by women.
Tips for Buying Gold Jewellery:
To get a good and correct purchase, you need to take into account several important factors when buying gold jewellery. Keep in mind these key elements:
Ensure that the value of the gold in the piece is calculated based on the total weight of the jewellery, minus the weight of the studded diamonds or gems. It is necessary to add separately the cost of diamonds and gemstones. For more information and clarity, please refer to our Jewellery Education Guide.
There may also be differences between one jeweller and another in other factors such as charges or wastage charges. So, before you buy anything, you’re going to have to look at the charges and all that. Check out our article on the same subject for more information about these things before you buy gold jewellery. Our gold purity calculator can also be used to help you understand easily.
Purity of Gold: The karat is higher, the gold content is higher, and the value of the piece is higher. However, higher-karat gold can be softer and more susceptible to scratches and damage. Most of the Gold jewellery is labelled with a karat value of 24K, 18K, or 14K.
Colour: Gold is available in a variety of colours, such as yellow, white and pink. The metal alloying with gold influences the colour. For example, metals such as palladium or nickel are often alloyed with white gold jewellery. To learn more about white gold you should have a look at white gold prices in Bangladesh.
Hallmarks: Look for markings or stamps indicating the authenticity and purity of the jewellery. A certificate of authenticity, specifying the gold content and other pertinent details, is provided by reputable jewellers within certain areas.
Return Policy and Warranty: Look at the jeweller’s return policy and see if the item has a warranty. If you are dissatisfied with the purchase or have any problems, this may provide some peace of mind. You can make your choice of gold jewellery that fits with your preferences, style and budget through careful consideration of these factors, in particular the calculation of the price of gold jewellery.
We are hoping that now you know how to calculate gold ornaments in Bangladesh.