Gold price per ounce in pounds
Gold is priced by the troy ounce, which UK weights law defines as 31.1034768 grams, about 10% heavier than the 28.35 g avoirdupois ounce used for food. The spot price shown here is the price of one troy ounce of pure gold in pounds, read from gold-api.com with the time it carries, and the calculator converts any quantity in troy ounces, grams, kilograms or tolas into its metal value at the carat you choose. Use it to check a coin or bar listed by the ounce, a price quoted in dollars per ounce converted elsewhere, or simply how much a kilo bar is worth. Because the ounce is fixed in law, the conversions never change: only the price does. Gold by Carat is an independent site, not a gold buyer or a dealer, and nothing you type is sent anywhere.
Example: 1 troy oz of 24ct gold
£3,096
31.103 g with 999 parts of gold in 1,000: 24ct is counted at 999, so it is a little under the price of a perfectly pure ounce
| Grams | 31.103 |
| Troy ounces | 1.0000 |
| Tolas (11.6638 g) | 2.6667 |
| Grains | 480.0 |
Figures and rules checked by the site’s publisher, Radif Partners · How the values are worked out · Editorial policy
Ounces of gold in pounds
| Troy ounces | Grams | Pure gold | 22ct |
|---|---|---|---|
| 0.1 oz | 3.11 g | £309.86 | £284.02 |
| 0.25 oz | 7.78 g | £774.65 | £710.04 |
| 0.5 oz | 15.55 g | £1,549 | £1,420 |
| 1 oz | 31.10 g | £3,099 | £2,840 |
| 2 oz | 62.21 g | £6,197 | £5,680 |
| 5 oz | 155.52 g | £15,493 | £14,201 |
| 10 oz | 311.03 g | £30,986 | £28,402 |
| 1 kg (32.15 oz) | 1,000.00 g | £99,622 | £91,314 |
More detail below: tap a heading to open it.
The troy ounce in law
UK weights law defines the troy ounce as 0.0311034768 kg and the grain as 1/7,000 of a pound of 0.45359237 kg, which makes 0.06479891 g. A troy ounce is 480 grains. These figures are exact by definition, so any conversion on this site is exact too; the only rounding is in how many decimals we show.
In the shop and on the internet, “ounce” on gold always means troy ounce. On a coin, the ounce refers to the gold it contains, not to the coin. A 1 oz Britannia at 999.9 is almost all gold; a 1 oz Krugerrand at 916.7 must weigh about 33.9 g in total by arithmetic, because the rest of the coin is alloy metal.
From the ounce price to everything else
Divide the ounce price by 31.1 and you have the price of a gram of pure gold. Multiply by the fineness and you have any carat: 375 thousandths for 9ct, 750 for 18ct. A buyer’s per-gram offer for 9ct can be checked against the ounce price this way in a few seconds, and the carat table on the home page does it for every standard at once.
If a dealer lists a bar or coin by the ounce, the gold bar page and the Britannia page show its metal value and the premium over spot.