Gold Pricing:

Most jewellers buy their metal from the well known Cape Precious Metals(CPM). As per the readings for CPM, Gold is $1 988.20 which is R36 268.74. 

Then the prices start to vary with the alloys added and the percentage of alloy added to the gold, for instance pure gold(24kt) is R1 167.07 and then the 18kt with alloy added varies from R900-R1000 due to the Yttrium, Rhenium and the common alloy added is Tungsten and palladium. 14kt gold varies from R700-R900 due to the different alloys added to the gold and percentage of palladium added. 9kt are from R400-600 due to the Alloys.

How Gold prices are calculated:Read more

Gold is priced in Troy ounce and not an ounce. 

Gold Bar

One Gold bar weighs around 12.4 kilograms which is 400ozt(troy ounce). 

The pricing on a gold bar ranges for 1 kilogram is around $64 353 which is R1 168 026.26