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Question

I purchased a 14k 54gram gold chain for about 1600-1700$ a few years ago. How much would that chain cost me today?

samuelsosa · Answer

I purchased a 14k 54gram gold chain for about 1600-1700$ a few years ago. How much would that chain cost me today?

samuelsosa · Answer

I see 1800&#x2B;$ an ounce. Does that mean my chain would go for 3500$ in stores?

samuelsosa · Answer

Would it be more expensive at the store than the price im seeing of gold?

son_of_sam · Answer

Did it come with a turtle neck sweater

SirJohnDrake · Answer

&#xD;&#xA;It would cost you approx. $1,828.11 today and not $3500 that you think. Below is how you figure it out, remember 24k is pure gold and yours is only 14k.&#xD;&#xA;Let&#x2019;s take a 14k(carat) that weighs 54 grams and assume a gold price of $1,800 per Ounce.&#xD;&#xA;1 Troy ounce = 31.1 grams&#xD;&#xA;-$1,800 divided by 31.1 grams = $57.87 per gram.-$57.87 times 54 grams =$3,124.98 this would be the gold value of a 24k gold chain weighing 54 grams.-This gold chain is 14k which means that it is only made up of 58.5% gold.-Multiply 54 grams by .585 to get the grams of pure gold in this 14k chain =31.59 grams.-Multiply 31.59 grams by $57.87= $1,828.11-This 14k 54 gram gold chain has $1,828.11 worth of pure gold

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