Gold & Silver Bullion 101 !!!

UNITS OF WEIGHT:

Gram                   International

Troy ounce         Mainly English-speaking countries: USA, UK and Australia

Tola                     Mainly Indian Sub-Continent and Middle East

Tael                     Mainly Hong Kong and Taiwan

Baht                     Thailand

Chi                       Vietnam

Don                      South Korea

Mesghal              Iran

Gram              1000, 500, 300, 250, 200, 100, 50, 30, 25, 20, 21

                        10, 8, 7, 6, 5, 4, 3, 2.5, 2, 1, 1/2

Troy ounce    20, 10, 5, 2 1/2, 2, 1, 1/2, 1/4, 1/10 9

Tola                10, 5, 4, 3, 2, 1 6

Tael                10, 5, 1 3

Baht                50, 30, 25, 20, 15, 10, 5, 3, 2.5, 2, 1 11

Chi                  10, 5, 2, 1, 1/2 5

Mesghal         Irregular weights up to around 50 mesghal 

GOLD PURITY: 

The declared purity (or fineness) of a gold content is important as it enables its weight of “fine gold” to be calculated. The purity is normally marked in parts gold per 100, 1,000 or 10,000

parts. For example, the same gold purity (99.99% by weight) can be expressed as follows:

9999                9,999 parts gold in 10,000 parts

999.9               999.9 parts gold in 1,000 parts

99.99               99.99 parts gold in 100 parts

999.9               International

999                  Mainly Indian Sub-continent

995                  Mainly Middle East and Indian Sub-continent

990                  Hong Kong

965                  Thailand

GOLD CONVERSION:

The LBMA records its basis for converting the weight of gold bars from

grams (metric) to ounces troy (imperial), and vice versa, as follows:

1 gram = 0.0321507465 ounces troy

1 kilogram = 32.1507465 ounces troy

1 tonne = 32,150.70 ounces troy

1 ounce troy = 31.1034768 grams = 0.0311034768 kilogram