The gold price online seems to be around ~SGD$65/gm..
However, most jewellery stores indicate gold price as $80/gm..
And they do charge additional workmanship cost etc.. In this case, since they charge workmanship, why is the gold price still marked up by so much?
Is there any formula to calculate what is the gold price at jewellery stores if the "Gold Price" indicated is not the real "gold price"? Is the gold price at jewellery stores supposed to be the same (follow same formula incl tax, duties etc..?) or varies greatly depending on how much they wanna markup? What does the extra ~$15/gm consist of?
Is it usually negotiable or fixed based on formula?
Any Advise? Thanks.