The troy ounce
Precious metals are traded in troy ounces. One troy ounce equals 31.1034768 grams. The ordinary avoirdupois ounce used for food is lighter, 28.3495 grams.
Conversion factors
Price per gram = price per troy ounce ÷ 31.1034768. Price per kilogram = price per gram × 1,000. Price per 10 grams = price per gram × 10.
The tola
The tola, used in South Asia and parts of the Gulf, equals 11.6638038 grams. Price per tola = price per gram × 11.6638038.
Local retail prices
Jewellers’ prices differ from the converted spot price because of making charges, taxes, duties and local supply. Treat converted spot prices as a reference.
Educational content, not investment advice.