Masses, as well as two measures of the volume of liquid bodies, one unit of force and several monetary units, formed as a twelfth of another unit. The term comes from ancient Rome, where an ounce meant the twelfth of a libra. It was one of the main weight units of medieval Europe. Today it is used in precious metals trading - troy ounce, as well as in countries where weight is measured in pounds (for example, the USA).

Ancient Rome

Among the ancient Romans, 1/12 of a unit of weight called libra (lat. libra) or ass and weighed 327.45 g (0.7996 Russian pounds or 76 spools 73 shares), and corresponded to 28.34 g (0.0666 Russian pounds or 6.394 spools). In turn, an ounce was divided into 2 semuncia, 4 sicilicus, 6 sextules, 24 scruples and 144 siliquas. An ounce was denoted by a dot ( · ) or (on coins) in the form of a small convex hemisphere, sometimes with a horizontal line ( - ), as well as (in cursive) signs and; the symbols for ½ ounce (semuncia) were Σ , Є , £ , sicilica - Ɔ , sextules - 𐆓 , scrupula - ℈ . The Romans used this system of duodecimal unit division for various purposes: for example, the ounce and its multiples were defined:

• the size of the inheritance
• measures of length (ounce = 1/12 Roman foot = 0.0246 m = 9685 lines)
• surface measures (ounce = 1/12 yuger = 2400 Roman square feet = 46 square fathoms, 6 square feet, 72 square inches = 209.91 m²)
• measures of capacity (ounce \u003d ciatu \u003d 1/12 sextarius \u003d 0.0372 mugs)
• banknotes (ounce \u003d 1/12 ass) - while in circulation, asses were more often used, containing instead of twelve an average of 10 ounces (from 11 to 9) - 272.88 g \u003d 0.666 Russian pounds. As banknotes, ounces were minted from copper, with an admixture of 7% tin and 23.6% lead; on one side the head of Minerva (or the goddess of Rome) was depicted, on the other - the coat of arms of the city.

Uncial division was used by the Romans in fractional calculations. Just as in decimal fractions the first place after the decimal point is occupied by tenths, the second by hundredths, and so on, the Romans expressed fractions as series of quantities whose denominator was a multiple of 12, with the first place being occupied by ounces, the second by semunces, and so on.

The use of the ounce before the introduction of the metric system of measures

The ounce was borrowed from the Romans by almost all European nations and before the introduction of the metric system of measures was the most common unit of weight in the world. In Germany, an ounce was equal to 1/16 of a large trading pound (= 1/8 of a mark) and 1/12 of a small pharmacy weight, only since 1872 replaced by the metric system. From Germany, an ounce also appeared in Russian pharmacies. In Italy it was equal to 1/12 of a pound, in Spain and Portugal = 1/16 of a trade (avoirdupois) pound. An ounce was also called in Sicily (until 1865) a monetary unit equal to 2½

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Measures and scales: what is an ounce and what is it equal to?

From the history of the ounce

The concept of "ounce" comes from the Latin word "uncia", which literally means "a trifle, a little bit, a little." This designates several units of mass measurement, it is also a definition for a pair of measures of the volume of a liquid, it is used as a unit of force and even as the name of several monetary units (including gold and silver).

This term was used in ancient Rome. There, 1 denoted 1/12 of the libra, an ancient Roman measure of weight equal to 327.45 g (or 0.7996 Russian pounds). Libra was most often used to indicate how much precious metals, in particular gold, weigh. In this case, an ounce, denoted by the sign "И", a dot ( ) or a horizontal line (-), was equal to 28.34 g (0.0666 Russian pounds) and was divided into 2 semuncia (Σ, Є, £), 4 sicilicus (Ɔ ), 6 sextules (Ƨ), 24 scruples (E), and 144 siliquas.

This measurement system was applied not only to metals. The Romans used it for a variety of other purposes. For example, to indicate the size of an inheritance, a measure of capacity, length (where 1 ounce equaled 0.0246 m) and surface area (where 1 ounce equaled 209.91 m²).

Later, such a measurement system was borrowed from the Romans by almost all the peoples of medieval Europe, and before the introduction of the metric system of measures, it was one of the main and most common.

In Italy, an ounce was equal to 1/12 of a pound, in Portugal and Spain, 1/16 of a trading pound. In Sicily (until 1865), this was the name of a monetary unit, identical to 2½ scudis (a silver and gold coin in Italy, equal to 5 francs) or 3 ducats (the name of silver (from 1140), and then (from 1284) and gold coins, first appeared in Italy, and later produced in a number of other European countries).

In Latin America and Spain, the doubloon gold coin was called in this way. In China - tael (or liang - a measure of weight and a monetary unit in Southeast Asia).

The place of the ounce in the modern world

Today, this measure is widely used in countries where weight is traditionally measured in pounds, called a troy ounce.

This term comes from the name of the French city of Troyes (Troyes). It was there that in the Middle Ages the largest trading and financial center of all of Europe was located.

It weighs 31.1034768 g and is abbreviated as toz or ozt.

From 1824 to 1858, the troy pound, which is divided into 12 troy ounces, was the main unit of weight in Great Britain. However, in other states the weight 1 could be different. The weight of the British troy ounce is widely used in precious metals trading.

There are several international designations for this unit. For gold - XAU, silver - XAG, platinum - XPT and palladium - XPD. The weight of coins in investment transactions is often calculated and indicated precisely within the framework of this system.

At the same time, in the USA and some other countries of the world, the fundamental unit of weight is the avoirdupois pound, which does not consist of 12 (unlike the troy), but already of 16 ounces. This unit is abbreviated as oz or oz at. Its weight is approximately 28.35 g, namely 28.349523125 g.

Now the troy measure is widely used not only in the banking and jewelry business, used to weigh precious metals (platinum, palladium, gold and silver), but also in some other areas, for example, in cosmetology and pharmacy, to measure the weight of especially valuable ingredients, substances and drugs.

It is worth noting that for a long time the pharmacy business had its own individual system for measuring and determining the measure of weights, which was used to weigh medicinal substances and was used exclusively in this field of activity. This is the so-called pharmacy or medical weight.

Its standard varied in different countries. In the pharmacy system, as in the system for measuring the mass of precious metals, the same numeral units were used. However, their number in one pound in these systems could be different, and the weight could vary from 25 to 35 g. Due to the lack of a clear definition of how many grams are contained in an ounce, the entire trading process was very difficult and a huge number of contradictions were created.

1 pharmacy ounce is equal to 29.86 g. The term is now archaic or obsolete and is not widely used.

In addition to the above listed species, there is also a fluid ounce, denoted by the abbreviation fl oz. It is used to measure the volume of a liquid. There are two types of fluid ounce: English and American. The first, according to the English tradition, is equal to 1/20 of a pint or 28.413063 ml (28.4 g). The second (American) is 1/16 of a pint or 29.573531 ml (29.57 g). Currently, in the United States, for food, one fluid ounce is equal to 30 ml.

These are the main similarities and differences in the definition of a measure of weight based on the use of these systems.

It so happened historically that gold has different measures of weight. When trading with gold, completely different values ​​are used. For example, the concept of "an ounce of gold in grams" is used. Initially, it is not clear what specific weight the precious metal has.

Measures of the weight of gold are converted into customary units. But at first it can cause confusion when buying or selling metal. For example, in the countries of the former Soviet Union, such units of measurement as pounds, ounces were rarely used. And accordingly, people need time to understand the nuances of weighing.

An ounce of gold

How did the troy ounce originate?

To understand when the troy ounce arose, one should delve into the history of monetary transactions in the Middle Ages. The thing is that in the French town of Troyes, fairs have long been held, to which merchants from all over the world came. Since either coins were used as money, sellers and buyers had to agree on the value of this coin. Then it was customary to weigh the ingot and compare its weight with the troy pound of silver - the main coin of France at that time.

This measure of weight passed to England and has survived to our times in relation to precious metals. And since fixing and daily price setting take place in London, according to tradition, they decided not to change the measure of weight. Therefore, it is beneficial for many banks to use the troy type of measurement, because it is on it that quotes are set.

The course is updated daily at 10.30 and 15.00 London time. And the five largest banks in the world do it: Deutsche Bank, Société Générale, HSBC, Scotia Mocatta and Barclays Capital. Individual brokers are not involved in the process. Banks take into account the supply and demand for the precious metal and draw conclusions based on economic indicators.

When calculating quotes, analysts and bank representatives use three currencies: the US dollar, the euro and the British pound sterling. A troy ounce of gold in grams is equal to 31.103. Therefore, if you calculate the cost of a product or an ingot in grams, in order to see the cost, do not forget to translate the weight measures.

It is also used in the following areas:

• banking - it most of all affects the cost of the precious metal, since all transactions of its purchase and sale go through banks;
• the jewelry industry uses this weight to calculate the amount of gold needed for a piece;
• pharmacology does not count gold, but medicinal substances, which is quite rare in our time.

It is in these areas that the exact weight of any product is used. But besides the troy ounce, there are other types of this unit of measurement. For example:

• An ounce of avoirdupois, which corresponds to 28.34 grams of metal.
• Pharmaceutical ounce, which equals 29.86 grams. Used for weighing medicines. Now the indicator is used for the manufacture of homeopathic substances.
• The ancient Roman ounce is the very first type of measure of weight. It has also been used for antique coins and other merchandise. Since this is a historical figure, it is not entirely accurate and is approximately 27.4 grams.
• An ounce of Maria Theresa equals 31.125 grams.

You need to know this in order to calculate the value of the precious metal. Therefore, an unambiguous answer to how much 1 ounce of gold weighs cannot be given. When making trading operations, especially if they are large, look at the measure of the weight of the precious metal and translate it into the usual values.

The governments of some countries, for example, the USA, China, Canada, have introduced investment and collection ones that have a weight of one ounce. Among them there are such instances:

1. Canadian maple leaf.
2. American eagle.
3. Chinese panda.
4. Austrian Philharmonic.

It is enough to pick up a coin and weigh it to find out how many grams are in an ounce of gold. This was done for convenience, but such coins are not used for settlements. Moreover, not everyone can afford such products. In the meantime, the troy ounce remains the standard measure of weight, which means a significant contribution of traditions to the development of the economy in the world.

Gold is a precious metal that has several units of measurement depending on the territory. It is difficult for beginners to navigate the translations of one unit into another. Therefore, people have a question: how much will an ounce of gold weigh in grams? Units of measurement are needed to determine the exact weight of the precious metal. The most popular among them:

• Grams. This unit of measurement is international, but, unfortunately, it has not taken root in all countries.
• Ounces. Although the measurement system is quite old, it still exists, especially in relation to the weight of precious metals. And the question is still relevant.
• Carat and fineness are not units of weight. This is just an indicator of the amount of gold in the jewelry, which is expressed as a percentage or carats. Knowing this value and how much the jewelry weighs, you can calculate the mass of pure gold contained in it.

How the amount of gold is measured depends on the tradition. In some countries, ounces are used more when measuring any product, including gold.

Troy ounce

Origin of the ounce

A troy ounce of gold in grams equals 31.1035, which is often rounded up to 31 grams. It so happened that in jewelry, cosmetics and banking, to this day, weight is determined in ounces.

It all started in the XII century in the town of Troyes on the banks of the Seine. It was there that the largest fairs in Europe were held, in which traders and merchants from different countries participated. And therefore, confusion was observed in monetary processes, since exchange rates simply did not exist at that time.

And all the coins, one way or another, were made of precious metals, so the weight of the French livre, which corresponded to one troy pound of silver, was taken as the basis for calculations. Thus, it began to gain popularity and soon conquered the world of precious metals: now gold is measured most often with its help. Therefore, the origin of the name has nothing to do with Troy, and writing "Trinity ounce" is wrong.

A troy ounce in weight is commensurate with one twelfth of an English gold coin pound. 1 ounce of gold weighs the same as some coins:

• Canadian golden maple leaf;
• American golden eagle;
• American golden buffalo;
• Australian (this is not an ordinary gold bar).

In addition, we should not forget that, in addition to the troy ounce, there are several more types:

• an ounce of avoirdupois, its weight is 28.34 grams;
• pharmacy ounce, which existed in Russia and equated to 26.89 grams;
• an ounce in grams of Maria Theresa equals 31.10.

Despite the fact that the numbers are close to each other, nevertheless, the troy ounce is the main one in bank calculations for the purchase / sale of gold, it is in it that the precious metal will continue to be measured. Therefore, when buying, it is necessary to clarify the measure of weight, since even the slightest difference in milligrams will affect the cost. The price per ounce of the precious metal is expressed in US dollars, since it is the dollar that is the world reserve currency.

Troy ounce

How is the price of an ounce of gold determined?

Beginning investors are often confused about weight because they don't know how many grams are in an ounce of gold. Having bought an ingot, a person suddenly receives more metal than he intended to receive. But is it?

This is due to the fact that even in the modern world they use a system such as a troy ounce to determine the weight of gold. And they often confuse this ounce with an ordinary ounce, since grams are used in Russia.

Therefore, when buying in foreign markets, it is imperative to take into account the fact that a troy ounce weighs nine point seven percent more than avoirdupois.

The abbreviation oz or oz at - in the USA and a number of other countries, the main unit of weight is the pound avoirdupois (453.592 370 g). It consists of 16 oz. The weight of an ounce of avoirdupois is 28.35 g (28.349523125 g).

What is a troy ounce

This is the name of the unit for determining the weight of precious metals, which is included in the Troy system of measures. Referred to as TR.OZ, or troy ounce, or simply ozt. The Romans used this system to measure gold, silver and precious stones. This system includes, among other things, a pound and a grain.

To understand the difference, you need to know what an ounce is.

So: One troy ounce will equal 31.1034768 grams. A pound is equal to 373.2417216g. or twelve troy ounces. A grain is equal to 1 in 480 ounces or 64.79891 milligrams.

One should not confuse the pound in England with the troy pound, since the latter is rarely used today. And you definitely need to separate the ordinary and troy ounce.

In the modern world, it is sometimes still measured in a troy ounce, especially in the financial sector, in jewelry stores, in the pharmacy and cosmetics sector. In order to calculate the metal in cans, a troy ounce is rounded up, and 31.103 grams are obtained.

In this case, it is not clear why to use an outdated system. Why can't you use more modern systems of measures. Let's try to answer this question.

The most important feature of the troy ounce is its convenience in calculating the weight of precious metals to determine their price in banking and jewelry.

How to convert ounce to grams

This can be done with an online calculator. To find out how many grams are in ounces of gold, you need to enter the number of ounces there and the calculator will automatically convert it to grams. The troy ounce is a kind of royal symbol for measuring gold.

Some coins are equal in weight exactly to a troy ounce:

• US golden eagle
• US golden buffalo
• gold bar australia
• Panda China
• Krugerrand South Africa
• Maple Leaf Canada
• Philharmonic Australia

The ancient city of Troy in no way influenced the name of the troy ounce. Troy ounce was named after a small town in France - Troyes. This city became popular in the twelfth century, as fairs were held there with the participation of merchants from all over the world.

Previously, each country used its own system to measure the value of gold, which constantly created difficulties. At first, it was proposed to take the livre as a universal measure, the troy pound was included in the same system. Soon, the troy ounce became the main way to determine the measures of precious metals.

Determining the value of gold using the London Fixing

How much will cost 1 ounce of gold in grams, in our time is determined by the London fixing 2 times a day - in the morning at half past eleven and in the afternoon - at three o'clock. Previously, this was not necessary, since the gold standard was in effect. The price of gold was fixed at three pounds seventeen shillings and nine pence for the purchase and three pounds seventeen shillings and ten and a half pence for the sale. The first fixing was carried out in 1919. the twelfth of September. Since then, the fixing process has not changed much.

Now you know how many grams is one ounce of gold, thus protecting yourself from misunderstandings while investing.

Troy ounce of gold, in grams it will be how much?

Reading world economic news, we often hear about such a measure of the weight of gold as an ounce. What does this mean? What does this correspond to in our usual units? What is the history of this concept?

A troy ounce of gold in grams is 31.1034768. This unit of measure is also used for other valuable substances: silver, platinum and not only for them. Valuable ingredients in the cosmetics industry are also sometimes measured by weight using this measure.

Despite the fact that an ounce of gold in grams is not a whole, but rather a complex number, it has remained the de facto standard for many centuries. The beginning of this was laid a very long time ago, in the midst of the Middle Ages. In the twelfth century, in the French city of Troyes, fairs took place every year, which attracted a huge number of people, goods, money from various countries. There was a need for a standard unit of measure for precious metals, which would allow for correct calculations when trading, despite the fact that there were coins of different types and different denominations in circulation. In those years, banknotes did not yet exist, and coins were often valued based on their exact weight.

But this is not the only ounce of gold known in history. In grams, which was 29,860, Russia had its own troy ounce. There were other similar units of weight measurement. There was, for example, an ounce of Maria Theresa, which was 31.1025 grams. However, in the gold business, the same unit was always adopted, which was used at the official level.

At one time, a whole system of weights was used, associated with a troy ounce. . The troy grain was 1/480 of it. Twelve of these units made up a pound. It was called troy, and should not be confused with the usual measure of weight of the same name.

Some states issue coins in our time, the weight of which is one troy ounce of gold, which in grams is exactly 31.1034768. An example is the "Golden Eagle", minted in the United States.

Since 1919, the so-called fixing has been carried out in London, during which it is determined how much 1 ounce of gold costs. This event occurs twice a day. Representatives of the five largest banking organizations in the world come together and set the price in US dollars per ounce.

Beginning in the first half of the nineteenth century, the gold standard began to exist. Its essence boils down to the fact that each currency rigidly fixes its price ratio with gold. And all international settlements are thus brought to a single basis. This brings an element of stability to the world economy, but with the advent of the twentieth century and the outbreak of the First World War this standard began to gradually become obsolete. The governments incurred huge expenses, and this greatly influenced the possibility of establishing a fixed price for gold. The world gradually began to be divided into several economic zones, based on one or another peg of their national currency. The zones of the English pound, the American dollar and gold were formed. After the end of World War II, the American monetary unit finally won this competition.

Much has changed in the economy, but a troy ounce in grams is the same value - 31.1034768. It was used before and continues to exist further. When weighing gold, grams are practically not used. The age-old tradition continues in the ounce.

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What does an ounce of gold mean

What is an ounce of gold? Origin of the word ounce(lat. uncia), with its roots going back to the time of ancient Rome. The Romans used large bronze coins cut into pieces as money. One ounce in ancient Rome meant the twelfth of a heavy coin (asse) and was equal to 27,288 gram. This is slightly different from the weight of a modern troy ounce ( troy ounce). By the way, many people confuse the word - they say and write "Trinity" ounce, instead of "Troy". To write and speak correctly is a troy ounce. Subsequently, the ounce became an important and most common weight unit in Europe. Despite the fact that recently many countries of the world have switched to the metric system of measuring weight, the ancient unit, the ounce, is still used in banking and jewelry.

How many grams in an ounce?

Participants in the world market for gold and other precious metals still use the ounce as a unit of weight. The total number of gold bars and coins worldwide bearing the inscription " oz" or " ounce» much more than c « g" or " gram". Therefore, in most of the countries of the world, ordinary people know how many grams are in an ounce. In order to accurately and quickly find out how many grams are contained in an ounce, you can use the calculator for converting ounces to grams familiar to all of us.

When they say or write an ounce of gold, be sure that they most often mean a troy ounce of gold. An ounce of gold has become a common measure for determining the weight of a precious metal throughout the modern world. Its weight is equal to the twelfth of a troy pound, which was the main unit of weight in Great Britain from 1824 to 1858. In another way, the English troy pound is also called the gold coin pound and is equal to 373,2417 gram. Accordingly, one troy ounce of gold in grams is equal to 31,1035 gram.

Name troy ounce derived from the French city Troyes(fr. Troyes), located in northern France, on the Seine River, in the province of Champagne. This small town has a rich historical past. The name troy ounce originated in the days of fairs, which attracted many merchants from many countries of the world. Coins of different states were easily exchanged by merchants at exchange offices, thanks to the use of a single standardized weight system at the fair. The French livre was taken as a basis, containing a troy pound of silver.

The official world price of gold worldwide is expressed in US dollars per troy ounce. Nowadays, with the transition to the metric system, the troy ounce seems archaic and inconvenient. Despite this, an ounce of gold continues to hold the symbol of centuries-old traditions, as well as the standard of purity and quality. Nowadays, the price of a troy ounce of gold is set by the London fixing. It is held by representatives of the five largest banks - players in the precious metals market. The fixed price per ounce of gold is set twice a day. It happens in 10:30 and in 15:00 London time or 13:30 and 18:00 by Moscow time.

What does the concept of an ounce in the field of gold and precious metals include?

The word ounce from the Latin "uncia" originated in ancient Rome. The inhabitants used huge bronze coins as money, having previously cut them into pieces. Thus, one twelfth of this coin became known as an ounce and had a weight of 27.288 grams.

Collectible one ounce coin

Naturally, this is different from the weight value of the modern ounce. After a short time, it became very common as a weight unit throughout Europe. Subsequently, many countries of the world began to use the metric system in measuring weight. But the ounce is the oldest unit still in use in jewelry and banking.

History of occurrence

Since the 13th century, 1 ounce has been equal to 1/16 of a pound. As a rule, when it comes to the concept of an ounce of gold, as a rule, they mean a troy. The history of its origin is interesting. In the French city of Troyes, which is located in the province of Champagne, in the 12-13th century, world-famous fairs were held, where, due to the need to exchange money (there were a lot of types, since merchants from all over the world came there), it began to be developed single standard measurement system.

It was based on the French livre, which was equal to a troy pound of silver. When exchanging precious metals, gold was measured in troy ounces. Since then, it has become a measure that determines the weight of precious metals in many modern states. A weight equal to a twelfth of a troy pound is the weight of an ounce. The troy pound, or otherwise the gold coin pound, existed as the main unit of weight in England from 1824 to 1858 and was equal to 373.2417 grams. Thus, one troy ounce of gold in grams has a weight of 31.1035 grams.

Troyes city in France.

Many are interested in the gold rate, or how much is an ounce worth?

Worldwide, the yellow metal has a value expressed in United States dollars per ounce. Despite the fact that the metric system is more common in our time, an ounce of gold is a symbol of centuries of tradition, and its price is determined by the standard of quality and purity.

The London fixing, which is held by the main players in the precious metals market (they are representatives of the five largest world-class banks), sets how much 1 ounce of gold will cost.

The fixed price is set twice a day: 10:30 and 15:00 London time or 13:30 and 18:00 Moscow time. Thus, the value of the precious metal in troy ounces is constantly changing.

In recent years, the price of the yellow metal has risen from $520 to $1,250. According to many financial analysts, we should expect a constant but smooth increase in value. And this gives a good reason to invest in its purchase in order to protect them from inflation. Today, for 1 ounce of the precious metal, you can buy the same benefits as two centuries ago. For example, in the 18th century, one ounce of gold allowed you to buy an excellent men's suit and now its price is at the same level.

London fixing online

Units of measurement in different countries

Shekel. It is of Hebrew origin. It is not used often and is equal to 11.4 grams. One fourth of a shekel is 2.85 grams.

Some countries use their own units of measure.

For example, the unit of tola, equal to 11.6638 grams, is in circulation in Luxembourg. She is measured when buying or selling scrap gold and its other types.

One bass in Taiwan is 15.244 grams. In Thailand, the tael is equal to 37.5 grams, and in China and Hong Kong one tael weighs a little less - 37.429 grams.

Varieties

Usually, when making a transaction for the purchase or sale of an item, a person asks not only what an ounce of gold is and what its price in grams is, but is also interested in the breakdown and weight of the item. You also need to know that in addition to the Troy, several more varieties are in circulation:

• The pharmacy, in which 1 ounce is 29.860 grams, was distributed in Russia until the end of 1930;
• Maria Theresa, containing 31.1025 grams;
• Ancient Roman, the most common in the history of the ancient world, and when asked how much 1 ounce is a gram, at that time they said that 27.3.

Historically, many coins weigh exactly one ounce.

Thus, how much a troy ounce of gold weighs, you need to know before you buy or sell an ingot or coins, scrap.

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Everything you need to know about the troy ounce

Transactions in the precious metals market are held under the auspices of the London Stock Exchange, which forms the average market value of gold, silver and platinum per 1 ounce. This raises a completely natural question, but what is 1 ounce of gold? What is the weight of an ounce and does this indicator change somehow? First of all, it should be noted that the troy weight system is a standard measure for evaluating precious metals, it has been used for several centuries and is not only a unified measure, but also a kind of guarantor of high professionalism and quality of transactions at the international level. However, for a domestic person it is often more common to measure the weight of precious metals in grams, even though this indicator is much less common. What is an ounce of gold? How much does an ounce weigh and how many grams are in one ounce? This and much more will be discussed further.

An old weight system still in use today

If you think about how long the indicated measure of weight has been used, then you can involuntarily be surprised. The one ounce indicator first appeared in the business environment as a full-fledged indicator more than two centuries ago. In fact, at that time, the troy ounce served as one measure of value for each market participant, because it is incredibly difficult to determine the rate of the precious metal in relation to each national currency. The founders of the troy ounce can be considered the French, namely the enterprising residents of the city of Troyes. Today, 1 ounce is used not only in trading on the stock exchange, the banking segment and jewelry stores also use this indicator. "1 troy ounce" - how many grams in this indicator and is accuracy important?

Accuracy is the key to trading reliability

The answer to the question of how many grams in one ounce of gold is pretty accurate. 1 ounce is 31 grams of a precious metal that contains no impurities at all. However, even smaller trades use a more accurate ounce weight, namely 31.1034768 grams. Such accuracy is due to the history of the formation of the international market of precious metals. The fact is that 1 ounce in grams is exactly equal to one twelfth of an English gold coin pound. In general, this weight can be called an unspoken standard for banking in the Middle Ages. In those days, most gold coins weighed exactly 30 grams. Accurate weight is also necessary to keep order in the bidding process, as money is known to love an accurate count. However, the same can be said about precious metals. As you can see, the answer to the question of how many grams in 1 ounce is not so unambiguous. In addition, several types of this indicator should be separated and in no case should they be confused.

So, for example, there is also a pharmacy and ancient Roman analogue. However, unlike the Troy, these indicators have not been used in the banking sector for quite some time. A troy ounce is also equal to 1/480 of a troy grain, however, and this indicator has sunk into oblivion. Among other things, this indicator is used as a weight gauge for investment coins, such as, for example, the silver dollar. Oddly enough, but such a long-standing weight system still functions perfectly. The high accuracy of this measure is the key to the stability of trading at the international level, so this value is unshakable.

Fixing, what is it?

In addition to the question of what an ounce equals, it is also necessary to determine how the price of precious metals is formed. Indeed, in the end, it is not so much the weight of an ounce that is important for a trader, but its cost. How is the value determined in the precious metals market and what is it equal to today? The word "fixing9raquo; in the literature on the market of precious metals, is quite common. Basically, a fix is ​​a set price for 1 ounce of gold, silver, or platinum. One troy ounce of gold is worth $1,315 today. Of course, we are talking about 999 gold. Fixing is set twice a day by the London Stock Exchange and based on this indicator, trades are conducted all over the world. The price is formed depending on the actions of the main players, namely gold suppliers and investors, as well as depending on the dollar exchange rate.

In relation to the domestic market, the situation is similar and the only difference is that the Central Bank is used as the main indicator of the cost of gold per gram. But, if we translate the weight of a troy ounce and take the official exchange rate of the dollar to the ruble as a basis, then the final value turns out to be the same. How much is 1 gram of gold worth in the Central Bank? The price of gold per gram has recently increased slightly and now stands at 2,700 rubles. According to rough forecasts of economists, the market, which has recently experienced a large-scale decline, is gradually recovering and a stable recovery is expected in the future.

Depending on the level of the participant

Tellingly, the value of gold at international auctions, in a large jewelry center and a small shop will vary dramatically depending on whether local or global factors prevail in the formation of value. So, for example, the question of how much a gram of gold costs in a pawnshop and, for example, on a stock exchange in Moscow is significantly different. Such concepts as one troy ounce and its price in relation to the dollar may well be unfamiliar to the owner of a small jewelry sales outlet, since in his business he repels personal interest and the characteristics of the local segment in the process of pricing. In this case, the weight of this indicator may well be just approximately equal to thirty grams.

An ounce, how many grams are in this indicator, its history and place in the modern realities of the precious metals market - this is extremely interesting and necessary information for any trader. What is the weight of this indicator, how its price fluctuates and under the influence of what factors it is formed - these are questions that determine whether the player's actions on the exchange will be profitable, because the more a trader knows about his segment, the more plausible his forecasts will be.