Gold conversion tables Worldwide

Gold conversion tables Worldwide. How to calculate the weight of gold in some nations around the world. Kitco gold price in oz - troy ounce, The gold weight conversion of the London Bullion Market Association (LBMA) is used for trading on the London bullion market, and accepted internationally. Why do we need to convert the weight of gold from the common weight unit of oz - ounce also known as troy ounce to the weight of gold in each country. This is important for reasons such as:

• Each nation or local has its own way of calculating gold weight
• Convert from ounces to any units of each region to be able to calculate the difference in domestic and international gold prices
• Buyer or seller can choose the right time to get the most profit

Examples from ounce to grams, from tola of Indian gold weight measurement system to grams, from tael of The Chinese Gold & Silver Exchange Society Hong Kong convert to grams, bath of Gold Traders Association Thailand, from luong of SJC gold Vietnam gold to grams, from don of LS-Nikko Copper Inc South Korea, Mithqal The Central Bank of the Islamic Republic of Iran, Indonesian gold weight measurement, Russian  unit  of gold  weight convert to grams

GOLD CONVERSION TABLES WORLDWIDE - GOLD WEIGHT IN SOME NATIONS

Below is a table of the weight of gold in some nations

Conversion tables

GOLD CONVERSION TABLES WORLDWIDE CONVERT TO GRAM

1 troy ounce oz	=	31.1034768 grams	~	Metric unit of weight
1 tola	=	11.644 grams	~	Indian gold weight measurement
1 tael	=	37.429 grams	~	Chinese Gold & Silver
1 zolotnik	=	4.2658 grams	~	Russian unit of gold weight
1 don	=	3.75 grams	~	LS-Nikko Copper Inc, South Korea
1 luong	=	37.5 grams	~	Vietnam gold measurement
1 Mithqal	=	4.25 grams	~	Islamic Republic of Iran gold
1 bath	=	15.244 grams	~	Thailand gold measurement
1 tanaka	=	100 grams	~	Japan gold measurement
1 rupee	=	1.18287 grams	~	Indonesian gold weight

HOW TO CALCULATE DIFFERENCE

• First we need to visit a website like goldpricetoday or Kitco
• We choose the Kitco live price for example $1,800/oz
• Use $1,800 * local currency rate = local currency value/oz

1 oz fine gold

EXAMPLE THE DIFFERENCE BETWEEN INTERNATIONAL AND DOMESTIC OF GOLD PRICE

The Kitco price is 1,800 USD/oz, the dollar exchange rate is 23,500 VND, the domestic gold price is 61,800,000 VND/tael

• The exchange rate of the domestic dong to the dollar is 23,500 VND
• Use 1,800*23,500 = 42,300,000 VND/oz
• 1 oz = 31.1034768/37.5 = 0.829426048 tael (luong)
• 1 tael (luong) = 37.5/31.1034768 = 1.205653
• 0.829426048 tael * domestic gold price = 0.829426048 * 61,800,000 = 51,258,529 VND
• So the difference between 1oz of Kitco and 1oz of domestic gold is 51,258,529 - 42,300,000 = 8,958,529 VND
• The difference between 1 tael of domestic gold and 1 tael of Kitco gold is 61,800,000 - (1,205653 * 42,300,000) = 10,800,878 VND

The difference on the part is due to shipping charges, insurance fees, recast production costs and some other fees.