Measurement Unit For Gold
Measurement Unit For Gold - Gold Price
Gold is as an investment product, its price is extremely important for the investors. However, in the same time, the gold price is varying from measurement unit. In the gold market, the different countries are with different habits, rules and local measurement units, therefore, the measurement units of the world gold trading are different. The following lists several more common measurement units in the international gold markets:
First of all, let's understand some information about Troy Weight. Troy weight is a system of units of mass; it is customarily used for precious metals and gemstones, such as gold, silver, and gemstones. 1 troy pound is equal to 12 troy ounces, distinguishing from avoirdupois system (16 ounces per pound). The units of measurement are troy pound, troy ounce, and pennyweight and so on.
Troy ounce (abbreviated "oz t")
Troy ounce is commonly used to measure the mass of precious metals, such as gold. 1 troy ounce is equal to 31.1034768 grams, or 1/12 per troy pound (1 troy pound ≈ 373.24 grams, that is lighter than avoirdupois pound), distinguishing from avoirdupois ounce which equals to 28.3495231 grams. In modern times, the troy ounce is the only measurement unit of troy weights system is widespread used in the British Imperial and American. In fact, the gold fixing price is based on the unit of troy ounce.
Pennyweight (abbreviated "dwt")
Pennyweight is a unit of mass; it is mainly used in measurement of precious metals in North American. 1 pennyweight is equal to 1/20 of a troy ounce, or equal to 1.55517384 grams.
Then, list other units for gold measurement as following:
Gram (abbreviated "g")
The gram is a metric system unit of mass, and it is also a SI derived unit. 1 gram = 0.001 kilogram.
The Tola is a traditional South Asian unit of mass, defined as 3/8 troy ounce, or approximately equals to 11.6638 grams. It is mainly used in trading gold of New Delhi, Karachi, Mumbai, etc.. In additional, Tola is as a unit of British Indian system of weights. It is equivalent to 10 grams. The latter Tola is popular used in gold bullion bars in Bangladesh, India, Nepal, Pakistan and Singapore.
Tael (or tahil)
Tael is most commonly used in Chinese, Hong Kong, Southeast Asia, and so on. In Chinese, 1 Tael = 50 grams, or =1.607536 troy ounces. In Hong Kong, 1 tael = 37.799364167 grams. In Japanese, 1 tael (両 ryō) = 37.5 grams.
Baht (Thai: บาท, sign: ฿; code: THB) is the foremost unit of weight for gold in Thailand. 1 baht = 15.244 grams.
A grain is a measurement unit of mass which is a traditional unit and based on the weight of a grain of wheat. The grain is the smallest unit of weight in the troy, avoirdupois, and apothecaries systems. 1 grain = 0.0648 grams, or = 0.0020833 troy ounces.
|Troy ounce||Gram||Kilogram||Tola (South Asia)||Tael (Hong Kong)||Tael (Japanese)||Grain||Baht|
|Tola (South Asia)||2.6666675||0.08573535||85.73535||1||3.2407418||3.2150757||0.005555558||1.30695|
|Tael (Hong Kong)||0.822857||0.0264555||26.4555||0.30857||1||0.99208||0.001714286||0.4032872|