How much is GoldSilver2u.com’s Silver?
To know the answer, we will need to examine GoldSilver2u.com silver pricing above spot. Calculating the above spot price for GoldSilver2u.com is as easy as UPSR’s mathematics. It is simple mainly because all your needed ingredients are clearly visible from GoldSilver2u.com website.
^ Information captured from GoldSilver2u.com’s website on 30th Nov 2011 4:15am
Let’s do a quick calculation on GoldSilver2u.com’s silver price. Bring out your Einstein thinking cap. We are going back to class.
You will need 3 important information. Firstly, silver pricing – which is in Ringgit Malaysia per gram. Secondly, the price GoldSilver2.com is asking or in another term, retail price. Lastly, the weight. With all that, you can start punching your calculator with the following formula:
Two Steps in Calculating Above Spot Price %
Step 1) Get Live Silver Price.
Formula: Live Silver Price = Silver Spot Price X WeightStep 2) Getting the Above Spot Price %
Formula: (Silver Retail Price – Live Silver Price)/Live Silver Price X 100%
With that, let’s crunch the numbers for Pamp Sussie 1,000 grams silver bar.
Live Silver Price
RM3.32 X 1,000 grams = RM3,320
Pamp Sussie Above Spot Price
(RM4,154.13- RM3,320)/RM3,320 X 100%
= 25.12%
Next, we move on to Tomei’s house brand silver bar. The Twin Tower bar weigh 311 grams is equivalent to 1 troy ounce.
Live Silver Price
RM3.32 X 311 grams = RM1,032.52.
Twin Tower’s Above Spot Price
(RM1,271.67 – RM1,032.52)/RM1,032.52 X 100%
= 23.16%
There you have it. Simple magic. You can apply the same formula to check out their Gold offering.
If you starting to like your math, read my previous write up on calculating spread for buying and selling here: Understanding Spread for Buying and Selling Gold or Silver
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