How to Determine the Price of Gold Per Gram
Historically, investments in gold have provided a safe haven against economic and political crises. The safeness of gold, as well as other factors, such as inflation and ongoing sovereign debt issues, contribute to the rising price of gold. Stock exchanges traditionally quote the price of gold per troy ounce of the metal. When you invest in gold by buying gold bars or coins, you often need to know the price of gold per gram. In addition, the price of gold per gram is a useful point of comparison when you shop for gold jewelry.
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Instructions
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Price of Gold Per Gram
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Use your Internet browser to navigate to webpages (see Resources) that report the live gold price.
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Read the current gold price per troy ounce. For example, assume the price is $1,438.23.
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Divide the price by 31.1035 to calculate the gold price per gram. For example, $1,438.23 ÷ 31.1035 = approximately $46.24 per gram.
Price of Gold Jewelry Per Gram
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Find out the price of a piece of gold jewelry from the price tag or the sales receipt. For example, assume the price is $975.56.
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Convert the weight of gold jewelry to grams; if the weight is in ounces, then multiply it by 28.3495. For example, if a piece of jewelry weighs 1.4 ounces, then 1.4 x 28.3495 = 39.6893 grams.
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Divide the price of the gold jewelry by the weight to calculate the gold price per gram. For example, if the price is $975.56 and the weight is 39.6893 grams, then the jewelry costs $975.56 ÷ 39.6893 = $24.58 per gram.
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