Understanding Gold Price Per Gram
The gold price per gram is the most commonly used unit for buying gold jewellery and small bars worldwide. While international markets quote gold in troy ounces (the COMEX and LBMA standard), retail buyers in India, the UAE, Singapore, and much of Asia purchase gold priced per gram.
AURUM calculates the per-gram price by dividing the live COMEX spot price by 31.1035 (the number of grams in one troy ounce). This conversion happens in real time, updated every 5 seconds during market hours. For non-USD currencies, we apply the live exchange rate from the ECB or Federal Reserve reference rate.
24K vs 22K vs 18K vs 14K Gold Per Gram
Gold purity is measured in karats (K). The karat system divides gold into 24 parts:
- 24K gold (99.9% pure) is the purest form available. It is soft and typically used for investment bars and coins. This is the benchmark price quoted by exchanges.
- 22K gold (91.67% pure) is the standard for Indian jewellery and Middle Eastern gold. It contains 8.33% alloy metals (copper, silver, zinc) for durability. Price = 24K price x 0.9167.
- 18K gold (75% pure) is the European and luxury jewellery standard. Commonly used by brands like Cartier and Tiffany. Price = 24K price x 0.75.
- 14K gold (58.3% pure) is the most common standard in US jewellery. More durable than higher-karat gold. Price = 24K price x 0.583.
Why Gold Per Gram Prices Vary by Country
The base gold price (in USD per troy ounce) is the same globally. However, the per-gram price in your local currency varies because of:
- Exchange rate: A weaker local currency raises the per-gram price even if USD gold is flat.
- Import duties: India charges 7.5% import duty + 3% GST on gold. UAE charges 0%.
- VAT/GST: UK investment gold is VAT-free; silver is not. Germany exempts investment gold from MwSt.
- Dealer premiums: Retail markup varies from 1-3% for bullion to 15-30% for designer jewellery.
- Making charges: In India and UAE, jewellers add a making charge (8-25%) on top of the gold rate.
How to Convert Gold Price Per Ounce to Per Gram
The formula is simple: Price per gram = Price per troy ounce / 31.1035
For example, if gold is trading at $4,554 per troy ounce:
- 24K per gram: $4,554 / 31.1035 = $146.40
- 22K per gram: $146.40 x 0.9167 = $134.20
- 18K per gram: $146.40 x 0.75 = $109.80
- 14K per gram: $146.40 x 0.583 = $85.35
AURUM does this calculation automatically in your local currency, updated every 5 seconds.
Gold Per Gram in Major Markets
Gold per gram pricing is particularly important in these markets:
- India: Gold is quoted in INR per 10 grams. The standard is 22K for jewellery and 24K for coins. See live India gold rates.
- UAE/Dubai: Gold is quoted in AED per gram. Dubai Gold Souk is the world's largest gold retail market. See live Dubai gold rates.
- Singapore: Gold is quoted in SGD per gram. The UOB gold price is the domestic benchmark. See live Singapore gold rates.
- UK: Investment gold is VAT-free. Sovereigns and Britannias are also CGT-free. See live UK gold rates.