How much does 585 gold cost per gram today (2020)

Today, the cost of 585 gold in a product per 1 gram in pawnshops and purchases fluctuates around 1,300 rubles. The price depends on trading on the London Stock Exchange, after which the Central Bank of Russia sets the rate. On the exchange, trading takes place in pure gold, i.e. 999.9 fine. Jewelry is not made from it, since in its pure form it is very soft and the product will not hold its shape, it is very easy to damage. For strength, other metals such as copper, silver, nickel, and palladium are added to gold.

The main consumers of precious metals are industry and jewelry production. The current price level on world markets depends on their demand for the precious metal.

Gold price forecast in 2022

Official discount prices for gold and other precious metals are established by the National Bank of the Russian Federation every working day. The basis is taken by fixing on the London spot metal market, and then converted into rubles at the exchange rate to the US dollar.

On a note!

For calculations, take the US dollar to Russian ruble exchange rate, which is valid on the day following the day the discount prices are established.

The discount prices established by the National Bank are used in the accounting calculations of credit institutions.

In the previous year 2022, the most important driver that influenced price increases was the coronavirus pandemic. But in 2022, this factor becomes less relevant. They are no longer so afraid of an increase in the number of cases, since vaccination is imminent.

A similar situation will affect other drivers.

Positive quotes for rising gold prices:

1. Low lending rates and the risk of dollar inflation. During the coronavirus period, the Central Bank is forced to reduce interest rates to support the economy. Money becomes more and its value decreases. The lower the price of the dollar becomes, the more expensive gold is.
2. High demand for protective assets. Demand for gold was high in the previous year due to the crisis. It is unknown when it will end, so there is a high probability of an increase in the price of gold.
3. Global economic recovery. Thanks to vaccinations, economic growth is expected in many countries, accordingly, the demand for precious metals will increase.

Negative quotes that may affect the growth of gold include proximity to historical highs (the price of gold is much higher than cost) and oversaturation of the market.

Gold is forecast to grow by 5-10% in 2022. But some experts believe that this will not happen and that the decline will continue.

Price of 1 gram of gold in Sberbank

The discount price of the precious metal in the Central Bank of the Russian Federation is only a guideline for the economy. All transactions for the purchase and sale of gold are carried out in Russia at a negotiated price, therefore each commercial bank has the right to set its own prices for the purchase and sale of metal. It is best for novice investors to start by studying metal prices set by Sberbank. Sberbank of Russia is the largest representative of the country's banking sector and a reputable financial institution. The price of gold, according to Sberbank, can be considered a reflection of the entire Russian precious metals market.

Sberbank sets gold prices for purchase and sale, focusing both on the discount prices of the Russian Central Bank and on the London fixing.

The commercial bank course takes into account regional characteristics, the cost of bank services, seasonal fluctuations in investment demand, as well as the bank’s benefits from purchase and sale transactions of precious metals.

Information on gold quotes is published by Sberbank on its official website, the data is updated twice a day. Bank branches are independent in determining prices for precious metals, so Moscow quotes may differ significantly from regional ones. A significant factor in the formation of gold prices is also the bank spread - the difference between the purchase and sale of a gram of metal. This price gap is not regulated at the legislative level, so in practice it can reach 15%. High spreads can negatively impact investment performance.

What will happen to gold prices from 2021-2025?

The gold price forecast for 2021-2024 is not so optimistic. It is expected that by this time a decline will begin, but not such a significant one. It will be associated with a new cycle of the global economy, as well as an increase in production volumes.

In the myrrh economy, the price of gold is usually quoted not per gram, but per ounce. Gold price forecast 2021-2025:

It is very difficult to say that the average numbers will be exactly that. This is due to the unstable macroeconomic situation; in 5 years, many events can happen in the world that will affect the final exchange rate.

On a note!

Raw material prices are much easier to determine. But the price of gold is highly dependent on economic regulators.

Prices and price rates per gram of gold today

In Russian banks, the price per gram of gold is indicated in rubles. The meaning changes constantly as the situation in the world changes. At the moment, there is a slight increase in the cost of 1 gram of gold:

Since the price of gold changes little, many people consider investing in gold to be a safe haven. This option is ideal for long-term investing.

Price for 1 gram of 585 gold

To calculate the cost of 1 gram of 585 gold, you need to multiply the price of 999 gold by 0.585.

For example, today (February 2022) after setting prices, gold costs 3,400.58 rubles per 1 gram.

3400.58 x 0.585 = 1989.33

Thus, the price turned out to be 1989 rubles.

But, since 585 gold is used to make jewelry, jewelry stores also add an additional price to the product. Also, as you know, 585 gold comes in yellow and white - this, in turn, also affects the cost. Therefore, the prices there are much higher.

But pawnshops and purchases purchase gold items at approximately the same price - 1,385 rubles per 1 gram. But even there, the decoration must first be assessed.

Where and how to invest money in gold correctly step by step

Before purchasing gold for storage, you need to understand what investment option is planned: short-term or long-term, in order to choose the right strategy and method in the future.

All gold financing options are divided into two groups:

• physical purchase;
• paper gold.

These two categories of investments have their own characteristics.

Physical gold

A person in Russia cannot come to a factory or gold mining company to directly buy a gold bar or product. Purchase is possible only through a bank, exchange or other intermediary. Today you can purchase several options for physical gold:

1. Jewelry. Purchasing this option is as easy as pie, since earrings, chains, and rings are sold in stores and pawn shops. But this option is not very profitable for the investor. Precious metal products are an alloy and not a pure product. Also, upon purchase, the buyer pays VAT, which is not returned upon sale. In general, the acquisition of gold products is illiquid, since when sold, they will offer no more than half of their real value.
2. Ingots. You can purchase them in banks, and goods of this type have the best purity - 999. You will also need to pay VAT upon purchase. Another serious point is that you can only sell the bullion to the selling bank, and some of them are reluctant to even buy back their goods. An interesting point is that the difference in rates between buying and selling depends on the weight. The greater the weight of the product, the lower its price. This method is also not suitable for generating quick income.
3. Coins. A very questionable way to generate income. To buy really valuable coins, you need to be an expert and understand which ones will increase in value over time.

On a note!

Purchasing physical gold will not provide an opportunity to make money by selling it later, since even experts do not know how the gold exchange rate will change.

Paper gold

This option is similar to storing money on a card, but you won’t be able to touch the gold. When purchasing, a person receives only a contract indicating the acquired gold reserve, and he will not have the precious metal itself:

1. Compulsory medical insurance (unidentified metal accounts). An account is opened in the bank, which indicates the amount of metal purchased. If the exchange rate rises, its quantity does not change, but the cost increases. This way you can earn money. If after some time the price of the precious metal increases, then you can sell and make a profit.
2. Mutual funds. You need to find funds that invest in gold. Not a very profitable option, since the management company will charge a commission. And if the price of gold does not rise, then the person will suffer losses.
3. Purchasing precious metals on the market. The danger is that you can go bankrupt.
4. Purchase of contracts. The option is designed for short-term profit making. Sales are carried out on the derivatives market. This requires the ability to analyze and guess. High risk of capital loss.
5. Shares of gold mining companies. This is an option for real investment, in which constant profit will depend not only on the price of the metal itself, but also on the work of the company and its profit.

As you can see, any method of investing in gold has a number of disadvantages. To earn large sums from buying gold, you need to be able to think ahead.

What does 14k gold mean?

Under 14 carats is hidden the designation of the carat system, indicating the percentage of gold in the alloy. Keep in mind that in its pure form gold is very soft, so it is used only in alloys. A piece of jewelry, for example, a ring, signet, pendant or bracelet, must be tested to indicate how much pure metal is contained in the composition. Other elements include copper, silver, palladium, platinum, etc.

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The karat system assumes that pure gold is 24 carats. Accordingly, 14 carats means that the alloy contains 14 parts of pure gold and 10 parts of ligature. 14 karat gold indicates that the alloy contains 58.5% pure precious metal, the rest being impurities.

How is the calculation made? To convert a carat sample to a metric one, you need to divide the number of carats by 24, and then multiply by 1000. The correspondence of the samples will be as follows: 14 carats is the 585th metric and the 56th spool sample. By analogy, all other carat samples are translated if necessary.

Gold is considered an amazingly beautiful material that has a pleasant yellow tint (or white if it contains a large percentage of platinum or palladium). The metal is characterized by excellent malleability, inertness, density and ductility.

The table below provides information regarding the additives used in the alloy and the shade they impart to the metal.

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It is 14 carat gold (585th standard) that is now most in demand. Jewelry made from it is quite durable and resistant to wear, but at the same time all the characteristics of gold are preserved. Even after prolonged wear, gold does not darken or oxidize, and if necessary, it can always be cleaned and polished to restore its original attractiveness. The price is also pleasing, which (in comparison with other, higher grades of the precious metal) is quite affordable.