Know more about Gold

Know more about Gold

Gold is a precious yellow metal. The chemical symbol of Gold is ‘Au’ which is the short form of Latin word “Aurum” which means ‘Glowing Dawn”. Its weight is usually expressed internationally in Troy Ounce (Oz) and the currency is denoted as “XAU”. The standard weight in which gold is quoted in the international markets is Troy Ounce weighing 31.1035 gms and must have a minimum purity /fineness of 995. The purity of gold is generally described in three ways as under:

 

PERCENT

FINENESS

KARATS

Comments

(Parts of gold per 100)

(Parts of gold per 1000)

(Parts of gold per 24)

 

99.99 Percent

999.9 Fine

24 Karat

Pure Gold

99.95 Percent

999.5 Fine

24 Karat

Pure Gold

99.90 Percent

999.0 Fine

24 Karat

Pure Gold

99.50 Percent

995.0 Fine

24 Karat

Pure Gold

99.00 Percent

990.0 Fine

24 Karat

Minimum allowed for Pure Gold

95.83 Percent

958.3 Fine

23 Karat

Western India

91.67 Percent

916.7 Fine

22 Karat

Indian Subcontinent

87.50 Percent

875.0 Fine

21 Karat

Arabic Countries

75.00 Percent

750.0 Fine

18 Karat

Standard International Karatage

58.33 Percent

583.3 Fine

14 Karat

USA

41.67 Percent

416.7 Fine

10 Karat

Minimum in USA

37.50 Percent

375.0 Fine

9 Karat

Minimum in UK

33.33 Percent

333.3 Fine

8 Karat

Minimum inGermany

The gold conversion factors are as below:

 

 

 

1 Gram

Troy Ounce

 

 

Pure gold

0.032151

 

 

999.9

0.032148

 

 

999

0.032118

 

 

995

0.031989

 

 

 

 

 

 

1 Troy Ounce

Gram

 

 

Pure Gold

31.1035

 

 

9999

31.1061

 

 

999

31.1351

 

 

995

31.2607

 

 

 

 

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