If you've seen gold priced "per ounce" and wondered whether that's the same ounce as everything else, it isn't. A troy ounce (31.1035g) is about 9.7% heavier than the everyday avoirdupois ounce (28.3495g) used for groceries or body weight — and every gold, silver and platinum price you'll see quoted uses the troy ounce.
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Grocery scales, body-weight scales and shipping labels use the avoirdupois ounce. Gold, silver, platinum and palladium prices — anywhere you see "$/oz" for a precious metal — use the troy ounce instead, a convention from medieval European bullion trading that's stuck around as the modern international standard.
Why It Matters
Mixing the two up when comparing a precious-metals price against an everyday weight (or a bullion bar's spec sheet) can lead to a meaningfully wrong value — a troy ounce is about 9.7% heavier, which is not a rounding error at any real quantity of gold. If a source doesn't specify which ounce it means for a metals weight, troy is the safe default assumption.
A troy ounce is 31.1035 grams — heavier than the 28.3495-gram avoirdupois ("regular") ounce used for everyday items like food or body weight.
The troy ounce is a centuries-old unit from medieval European bullion trading that became the international standard for precious metals — gold, silver, platinum and palladium are all quoted in troy ounces by convention, not regular avoirdupois ounces.
Yes — in the precious metals and bullion industry, "oz" or "ounce" without further qualification means troy ounce by default. This is different from most other contexts (food, shipping, body weight), where "ounce" means the avoirdupois ounce instead.
No — a troy pound is 12 troy ounces (not 16, like an avoirdupois pound), which is why gold weight is almost always discussed in ounces or grams rather than pounds, to avoid that extra layer of confusion.
Transparency & Methodology
GP
Gold Price Per Gram USA
Independent, Open-Source Live Tracker
An independent calculator that reads a live gold price from its UK sister site and applies a live FX conversion and the standard troy-ounce-to-gram formula deterministically — no manual price entry, no AI estimate.
Live UK feed + FX rate
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Methodology & Limitations
USD prices are derived from the live GBP spot price published by our sister site, Gold Price Per Gram UK, converted using a live GBP→USD rate. See the full methodology for the exact formula and update schedule.
Not a Dealer or Adviser
This site is not a bullion dealer, refiner or financial adviser — prices are indicative only. Before selling, compare quotes from a reputable buyer; for the US benchmark gold market see CME Group / COMEX Gold Futures.