• Registered: 01-01-1970
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Topic: Calculate gold price

To buy gold you first need to know gold price and how to calculate the price of gold per the unit of gold your buying. What I mean by unit is are you buying 1 ounce? 1/2 ounce? 3 grams, 13.25 grains? 2.3 dwt (pennyweight)? or other?

Gold is measured by troy ounces which is not the same as regular ounces a regular ounce is 28.35 grams and a troy ounce is 31.103 grams so its heavier!! Its important to know this because you wouldnt want to pay for 1 ounce of gold and find out that someone used the 28.35 grams as the weight of your ounce.

Most people will sell gold by the gram or grain or pennyweight (dwt) as to avoid the confusion over the 2 different types of ounces, so lets look at how to calculate gold price.

1 troy ounce = 31.1 grams

1 troy ounce = 20 dwt (pennyweight)

1 troy ounce = 480 grains

Knowing all of the ratios above you can calculate the price of gold for any unit by using the following formulas - Lets use for this example that gold is $800.00 per ounce and we want to figure out the price of gold per gram, to do this you divide 800.00 by 31.1 (there are 31.1 grams per ounce) to come up with a figure of $25.72 per gram of gold. Another way to calculate the price of gold is by the grain (NOT GRAM), to do that you take the $800.00 per ounce and divide it by 480 (480 grains per ounce) to come up with a figure of $1.66 per grain. Finally we can caculate the price per DWT (pennyweight) by dividing the $800.00 per ounce by 20, to come up with $40.00 per DWT. This is just the basics on how to calculate gold price per unit.

Feel free to reply with any questions or comments you have!

mlgdave

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Re: Calculate gold price

The fluctuation of industry difficulties has an effect on almost all costs. Gold costs fluctuate like all other commodity prices. Today, gold hit a large psychological price point. $1,500 per ounce is a price that has never before been struck. The price of gold has been going up in a very strong trend over the last few years. Some say this is proof of a weak economy, others are worried this may be an industry ripe for a bubble. Here is the proof: Gold prices touch $1,500 as some question inflationary pressures

  • Registered: 01-01-1970
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Re: Calculate gold price

It is 49.37 a gram as I write this and it is climbing.

  • Registered: 01-01-1970
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Re: Calculate gold price

you guys remember a few years ago complaining about paying 50 bucks a gram for specimens and crystalline gold, well the buyers at that price are having the last laugh now!

  • Registered: 01-01-1970
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Re: Calculate gold price

Actually specimens and crystalline gold is not selling. Just look around Dave's site or any other site. The stuff I see sell and personally sell the most of, is stuff smaller than #6... Those are the collectors that are having the last laugh. And wait until gold hits 2000 bucks, those who can hang on well be having a real laugh, because it is not coming down again for a long long time.  IF IT EVER DOES AND I doubt you well ever see it below 1500, ever.. Heck, gas just took another jump and I believe that is whats driving the price of gold up, not the other way around. Sure it is getting close to summer and gas always goes up then, but not like this.

Last edited by husk91 (05-01-2011 19:18:23)

  • Registered: 01-01-1970
  • Posts: 209

Re: Calculate gold price

1523.9           49
1527.01        49.1
1531.67        49.25
1539        49.5
1547.22        49.75
1550.33        49.85
1555        50
1558.11        50.1
1562.77        50.25
1565.88    X    50.35
1570.55        50.5
1578.32        50.75
1581.43        50.85
1586.1        51
1589.21        51.1
1593.87        51.25

Last edited by husk91 (05-01-2011 19:21:07)

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Re: Calculate gold price

www.dendritics.com/scales/metal-calc.asp