guys,
want to ask 1 noob question
Why there is a huge difference between gold sold in those gold smiths/Jewellers shop & gold price?
Gold investment corner v4, Will gold price achieve USD2000 by 2012?
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 Dec 27 2011, 11:07 PM
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Dec 28 2011, 09:49 AM
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QUOTE(Minimayo @ Dec 28 2011, 01:17 AM) they need to mark up 25% for the profits, ohh..thanks for explanation. No wonder went we sell them back old gold jewellery, they deduct 25% off it.Easier calculation : Lets say 1 ounze gold is 1,600 USD means 1,600 X 3.2 ( usd to Rm ) / 31.1gram = RM 164.6 per gram. That means goldsmith will take RM 164.6 X 1.25 = RM 205.75 << This is the price quoted in most of the goldsmith, some markup 20% and some 25%  This post has been edited by Iceman74: Dec 28 2011, 09:49 AM |
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