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A possible source of confusion is that gold is often priced on the open market in the more traditional troy ounce (one troy ounce is exactly 31.1034768 grams, which is larger than the avoirdupois ounce generally in use in the United States and has a mass of 28.35 grams). Kilogram gold prices are commonly used by the Zurich Gold Pool where 1,000 ...
Additionally, the kilobar, weighing 1,000 grams (32.15 troy ounces), and the 100-troy-ounce (109.7-ounce; 6.9-pound; 3.1-kilogram) gold bar are popular for trading and investment due to their more manageable size and weight. [1] These bars carry a minimal premium over the spot price of gold, facilitating small transfers between banks and ...
The only troy weight in widespread use is the British Imperial troy ounce and its American counterpart. Both are based on a grain of 0.06479891 gram (exact, by definition), with 480 grains to a troy ounce (compared with 437 + 1 ⁄ 2 grains for an ounce avoirdupois). The British Empire abolished the 12-ounce troy pound in the 19th century.
A troy ounce (abbreviated oz t) is equal to 480 grains. Consequently, the international troy ounce is equal to exactly 31.1034768 grams. There are 12 troy ounces in the now obsolete troy pound. Today, the troy ounce is used only to express the mass of precious metals such as gold, platinum, palladium, rhodium or silver.
It is also used in most gold markets (bazars/souks) in the United Arab Emirates and in all the Cooperation Council for the Arab States of the Gulf (GCC) countries. Tola is still used as a measure of charas (Indian hashish). [10] On the black market, however, one tola equals a mass of approximately 10 g (0.35 oz) and not the actual mass of one tola.
It remains in widespread use in Myanmar, where it is approximately equivalent to 16.33 grams (0.576 oz), and in the gold trade in Thailand, where it is defined as 15.244 grams (0.5377 oz) for bullion and 15.16 grams (0.535 oz) for jewellery. [1] For other uses, the baht is defined in Thailand as exactly 15 grams (0.5291 oz). [2]
Irish gold pistole, bearing its weight (4 dwt 7 gr) (National Museum of Ireland – Decorative Arts and History). A pennyweight (dwt) is a unit of mass equal to 24 grains, 1 ⁄ 20 of a troy ounce, 1 ⁄ 240 of a troy pound, approximately 0.054857 avoirdupois ounce [1] and exactly 1.55517384 grams. [2]
Gold dinar of Umayyad Caliph Abd al-Malik ibn Marwan, minted at Damascus, Syria in AH 75 (697/698 CE), having a weight of almost 1 mithqāl (4.25 grams). Mithqāl (Arabic: مثقال) is a unit of mass equal to 4.25 grams (0.137 ozt) which is mostly used for measuring precious metals, such as gold, and other commodities, like saffron.
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