cooltext397394484.jpg
1_oz_of_fine_gold.jpg

Troy ounce

The troy ounce (ozt) is 480 grains, somewhat heavier than an avoirdupois ounce (437.5 grains).[2] A grain is exactly 64.79891 mg; hence one troy ounce is exactly 31.1034768 g, about 10 percent more than the avoirdupois ounce, which is exactly 28.349523125 g. The troy ounce is the only ounce used in the pricing of precious metals, gold, platinum, and silver. The grain, which is identical in both the troy and avoirdupois systems, is used to measure arrow and arrowhead weights in archery and bullets and powder weights in ballistics. Grains were long used in medicine but have been largely replaced by milligrams.

from http://en.wikipedia.org/wiki/Troy_weight

Live gold price - http://goldprice.org/live-gold-price.html

The price of gold around the world is often quoted in dollars or Euros per ounce (troy). If we want to convert a troy ounce into a quantity that you know we have to make a calculation.



Unit
Grains
Grams
Troy ounce (20 pennyweights)
480
31.1034768

What is the price per gram for gold if the troy ounce costs €570?

Euro_banknotes.png626px-Euro_coins_version_II.png

Euro

1 EUR

in EUR

American Dollar

1.4684

0.681013

Australian Dollar

1.71682

0.582471

Brazilian Real

2.38175

0.41986

British Pound

0.801616

1.24748

Canadian Dollar

1.53932

0.649636

Chinese Yuan

9.9954

0.100046

Danish Krone

7.45713

0.1341

Hong Kong Dollar

11.4644

0.0872266

Indian Rupee

64.0516

0.0156124

Japanese Yen

161.113

0.00620683

Malaysian Ringgit

4.96466

0.201424

Mexican Peso

14.8925

0.0671478

New Zealand Dollar

2.10312

0.475485

Norwegian Kroner

7.90514

0.1265

Singapore Dollar

2.08425

0.479789

South African Rand

11.4139

0.0876126

South Korean Won

1591.75

0.000628241

Sri Lanka Rupee

158.367

0.00631445

Swedish Krona

9.40951

0.106275

Swiss Franc

1.61656

0.618597

Taiwan Dollar

46.284

0.0216057

Thai Baht

49.9403

0.0200239


http://www.x-rates.com/d/EUR/table.html 28/08/08

Graph conversions