Kologsoft, a software development company based in the Upper East Region has unveiled a gold calculator Application on App Store and Goggle Play Store to easily help both buyers and sellers of gold trade.
The gold calculator Application is to among other things, help dealers of gold to easily calculate the density of gold per pound based on the carat in terms of its monetary value and determine the carat of the gold.
The App also has a Global price feature that reveals the prices of gold internationally and contains a database system where buyers can save transactions and manage the amount of money spent in buying the gold and sales made to determine the profit accrued.
Mr Kolog John Dok, Chief Executive Officer, Kologsoft in an interview with the Ghana News Agency, explained that the App could be used by simply entering the figures of the grams, volume, and unit price per grams of the measured gold onto the App.
The App would then automatically generate the pounds of the gold, density, price per pound, carat, and the total amount worth the gold.
He said the idea was born out of the difficulty faced by dealers of gold in calculating the monetary value of gold, its carat and density
According to him, the measurement of gold had undergone various transformations but none of such transformations included the monetary value of the exact gold measured, its purity and the carat.
He noted that, such measure of gold created a room for doubts and confusion among buyers and sellers in certain times regarding the monetary value of gold, especially dating back to the time when gold was weighed against a razor blade or matchstick and its monetary value was determined based on the balance.
Mr Kolog emphasized that, the availability of the app has taken away the burden of having to do tedious mathematics before arriving at the total monetary value of gold, its pounds, carat, and density after using the manual gold measurement machine which only provides raw figures.
He urged all buyers and sellers of gold to patronize the App for easy trade, adding that, one can even use the app without signing up but advised users to sign up to have the full benefit of the App.
The App has since recorded over 16,000 downloads with majority of users emanating from Russia and Ukraine.