There is a very specific formula in order to properly calculate the price. While it may look complicated at first glance, we assure you it is quite easy once you understand the breakdown.

Values for calculating are based on numbers made available by Kitco.com:

For this example, we will be calculating 18k Gold. The place to start for your calculation is to find the Bid number for Gold from Kitco, as shown in the example image above.

With this number, the formula for correctly calculating your spot metal items will be as follows:

Price per Troy Ounce  (divided by)  Grams per Troy Ounce  (multiplied by)  Percent of Real 18k Gold  
(multiplied by)  Total Weight Grams  (multiplied by)  Category Markup 
(plus)  Item Labor  =  FINAL price in POS transaction.

Calculation Notes:

• 1 Troy Ounce = 20 Pennyweights (DWT).
• Percent of Real Gold means the purity value in Edge, i.e. 24k Gold = .999, 18k = .75, 12k = .5
• Category markup is setup by you in the category description. See section Creating a Spot Metal Pricing Category.
• Item Labor is determined by you in the item description.  See section Adding a Spot Metal Price Item.

How this formula will look replaced with numeric examples: