1 avoirdupois ounce = 28.35 g
1 troy ounce = 31.1 g
If gold is priced at USD 824.90/troy ounce, it should be priced at USD 26.52/g
----- Original Message -----
From: Michael Payne
To: U.S. Metric Association
Sent: 11 January, 2009 16:12
Subject: [USMA:42316] Re: troy ounce
Over in the middle East (Dubai is where I saw it) they weigh Gold in stores
by the gram, I've also seen it this way in the Netherlands Antilles. Only if
you knew how many grams in a Troy ounce would you know if they were shorting
you, There are almost 3 grams less in an Avoirdupois ounce. This is just from
observation, I would imagine they divide the price of Gold $800/oz troy to get
$25,72/g.
Mike Payne
----- Original Message -----
From: Paul Trusten
To: U.S. Metric Association
Sent: Saturday, 10 January 2009 19:26
Subject: [USMA:42295] troy ounce
The UK can also continue using miles for roads and the troy ounce for
precious metals.
Huh?
Just as a sidebar here, who, anywhere in the world, trades precious metals
in any unit but the troy ounce? To my knowledge, the world still adheres to
this measurement unit for the metals. If someone can direct me to a source that
quotes the price of gold by the gram or the kilogram, I'd like to hear it,
because I've never heard it.
Paul Trusten, R.Ph.
Public Relations Director
U.S. Metric Association, Inc.
www.metric.org
3609 Caldera Blvd. Apt. 122
Midland TX 79707-2872 US
+1(432)528-7724
[email protected]
