How is the gold price per gram calculated in your country?
Step by step from the global ounce price and local exchange rate to the price per gram, and why shop prices differ.
The global ounce price
Gold is priced globally in US dollars per troy ounce, which equals 31.1035 grams. The price moves constantly with supply and demand.
Converting to local currency
Multiply the ounce price by the dollar exchange rate for your currency, then divide by 31.1035 to get the 24K price per gram.
Other karats
Price per gram of any karat = 24K gram price × purity. For example, 21K = 24K price × 0.875.
Why shop prices differ
Jewellery prices add making charges and may include tax depending on the country, and in some countries the local exchange rate differs from the official one.