Perhaps you are still first try to invest in gold is still confused about the use of terms in the world of gold trading, and various gold price calculation. To be able to calculate the price of gold per Ounce, we must first look at its price per Troy Ounce.
One uses the calculation for Gold and Precious Metals, is that we can know the world gold price at any time in units of dollars per troy oz. One troy oz equal to 31.1 grams. The price of gold in the world is basically influenced by the market price of gold in the world such as London, England and New York, USA. Commonly used standards and we often hear in the electronic media, the price of gold in the unit per tray ounce.
Is this the price that will be used later when the markets open in the United States and other countries? Regular price will not be much different, because other factors will also affect the price, such as supply and demand or the availability of goods.
So, how do I find out the price of gold per ounce, we will discuss below. As I said at the beginning of this discussion, that we must first look at its price per Troy Ounce. To calculate and determine the price of gold, the formula is quite simple. This is how we calculate:
1 Troy Ounce = 31.01 Grams (or 1 toz = 31.1 grams)
If 1 ounce = 28.35 grams, so:
1 Troy Ounce = 01.31 Grams = 1097 ounces Grams/28.35
How to calculate the price of gold per ounce
Suppose the price of gold SPOT today is $ 1,760, that means $ 1760 per Troy Ounce (1097 per ounce), so the price of gold = $ 1760/1.097 = $ 1613.19 per ounce.
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