How do you calculate the repurchase price of precious metals?
The repurchase price of precious metals is determined by the weight of the item. The repurchase price is calculated by multiplying the repurchase price of purity per gram, by the weight of the precious metal itself. The repurchase price per gram is set based on the precious metals market of the day.
For example, if the repurchase price of 18K gold per gram is $500 dollars on a given day, and your 18K gold ring weight 10 grams, then the calculation will be $500 dollars × 10 grams = $5000 dollars. $5000 dollars will be the repurchase price of your 10 grams 18K gold ring.