How Do You Calculate The Price Of Gold In Grams?
According to CNBC.com, the price of gold has steadily increased for the past decade. As a result, gold has become a stellar investment. Gold prices can change daily, and when gold is traded everyday, it is traded in troy ounces. To price gold, it has to be converted from troy ounces, which is the universally accepted measurement in calculating the price of gold and in weighing gold. Locate the current market price for gold. This number can be found on any site that has real-time quotes such as Bloomberg.com, CNBC.com and Forbes.com. On all of these sites, you’ll need to click on commodities, since gold is a commodity. Use the troy ounces conversion formula to convert the price to grams: current price of gold/31.10 (troy ounce measurement) = gold price/gram. For example, if the current gold price is $1,257, then $1257/31.10 = $40.42/g. Multiply the price per gram times the weight in grams using the following calculation: price per gram x weight in grams = calculated price in grams. As a
