Weight unit guide
Troy Ounce of Gold vs a Regular Ounce
Gold and other precious metals use the troy ounce. Knowing the difference prevents a common conversion error when reading a spot price or estimating the value of a physical item.
The two ounces are not the same
One troy ounce equals 31.1034768 grams. A regular avoirdupois ounce used for many household goods equals about 28.3495 grams. A gold price per ounce means troy ounce unless the source says otherwise.
How Gold Spot Now converts the unit
The shared calculation module divides a USD price per troy ounce by 31.1034768 to obtain the theoretical price per gram. It then scales that value to kilograms, tola, or pennyweight when a calculator input requires it.
What the conversion does not include
Unit conversion only describes metal weight. It does not account for a coin or jewellery premium, dealer spread, taxes, delivery, condition, assay, or a scrap buyer's offer. The resulting number is informational and theoretical.