While the 24 part means pricey, the kgb part is not so much.
The karatage of the jewelry will tell you what percentage of gold it contains: 24 karat is 100 percent, 18 karat is 75 percent, and 14 karat is 58 percent gold.
However, KGB stands for "Karat Gold Bonded" which describes jewelry composed of a sheet of Karat which is mechanically affixed (bonded) on top of a Sterling Silver core. This means that a layer of 24 karat gold has been used to coat another metal. The price will depend on the value of the underlying metal and the gold overlayed.
The Gold price in the USA in U.S Dollars (USD) is updated once every 15 minutes, based on the latest gold price from the NYSE COMEX. Visit http://goldpricenetwork.com for more info.
In the latest news, for the first time in more than two years, gold dropped below $1,300 a troy ounce.