Need to estimate gold jewelry items?

Question

I am studying the issue of gold jewelry (solid gold and yellow gold) 10 karat and 14 karat and i want to understand how to calculate this.
I contacted a jewelry manufacturer in Hong kong regarding buying directly from him 10k and 14k gold earrings and bracelets.
He sent me a Quotation file but i didn't really understand it.
In the file he also added remarks

Remarks:
-Production loss is 10%-12%.
-The gold price is calculated according to the International quotation.
The price today is 10.384 USD(78yuan)

-The total price is calculated like this : Manual fee + the price of gold/ g *weight + loss.

The price for the earring:


USD10+10.384*11.6+11.6*12%*10.384


Bottom line is this - is it clear that if i eliminate the manual fee and the Production loss then to calculate the price for pair of earrings its actually the Weight of th

Bottom line - is it clear that if i eliminate the manual fee and the Production loss then to calculate the price for pair of earrings its actually the Weight of the earring multiply the gold price (International quotation) at the same day ?

Regards

Answer 1

The price of gold changes from day to day, just like a barrel of oil.