A kilogram (kg) of gold contains 32.15 troy ounces (ozt). This means there are 32.15 ozt in 1 kg of gold. To understand this conversion, we first need to understand the differences between metric units like kilograms and troy units like troy ounces.
- There are 32.15 troy ounces (ozt) in 1 kilogram (kg) of gold.
- Kilograms are units of mass in the metric system, while troy ounces are units of mass used for precious metals.
- Troy ounces are slightly heavier than regular (avoirdupois) ounces. One troy ounce equals 1.097 avoirdupois ounces.
- The conversion between kilograms and troy ounces is:
- 1 kg = 32.15 ozt
- 1 ozt = 0.0311 kg
Understanding the Kilogram
The kilogram (kg) is the base unit of mass in the International System of Units (SI). It is defined based on fundamental constants and officially replaced the previous definition based on the mass of a physical artifact in 2019.
Some key facts about the kilogram:
- The kilogram is equal to 1000 grams (g).
- It is widely used in science, industry, retail and trade.
- Many everyday objects have mass close to 1 kg or fractions/multiples of a kg.
- The kilogram is part of the broader metric system which uses prefixes like milli-, centi-, and mega- to scale units up or down.
The kilogram allows us to precisely measure and communicate mass quantities. When dealing with precious metals like gold, however, the troy system is commonly used instead.
SI Units for Mass
The SI defines seven base units, one for each of the seven fundamental properties it covers. These base units are used to derive all other SI units. The base SI unit for mass is the kilogram (kg).
Some other SI units for mass, derived from the kilogram, include:
- Gram (g): 1 g = 0.001 kg
- Metric ton (t): 1 t = 1000 kg
- Milligram (mg): 1 mg = 0.000001 kg (1/1,000,000th of a kg)
- Microgram (μg): 1 μg = 0.000000001 kg (1/1,000,000,000th of a kg)
Being part of the metric system allows the kilogram to scale from very small masses to very large masses using SI prefixes. This makes the units convenient for both scientific and everyday use.
Understanding Troy Ounces
The troy ounce (ozt) is a unit of mass used for precious metals like gold, silver and platinum. It is part of the troy system of units.
Some key facts about the troy ounce:
- One troy ounce equals 31.1034768 grams.
- Troy ounces are commonly used to measure the mass of precious metals.
- There are 12 troy ounces in one troy pound.
- A troy ounce is about 10% heavier than a regular avoirdupois ounce used for other goods.
The troy system was originally used in medieval Europe. It was adopted in the US in the 19th century to standardizeWeights and measures for precious metals trading.
Origins of the Troy System
The troy system is believed to have originated in France and been adopted by English merchants in the Middle Ages. The units were likely based on coins used at the time.
Some theories on the origins of “troy” include:
- Deriving from the French town of Troyes, an important trading center.
- Referring to the ancient city of Troy, known for precious metals.
- Coming from the French “troi” meaning a division into three, as 12 troy ounces make a troy pound.
The troy system was made the official system for precious metals in the United Kingdom in 1527. It was later adopted in the United States in 1828 for coinage and bullion weight measurement.
Comparing Kilograms and Troy Ounces
Now that we understand the kilogram and troy ounce, we can compare the two units:
- The kilogram is based on the SI/metric system, while the troy ounce is part of the troy system.
- Kilograms measure mass in general, while troy ounces are specialized for precious metals.
- One kilogram equals approximately 32.15 troy ounces.
- One troy ounce equals approximately 0.0311 kilograms.
The exact conversion ratios are:
- 1 kg = 32.1507466 troy oz
- 1 troy oz = 0.0311034768 kg
So if we have 1 kg of gold, it will contain 32.15 troy oz of gold. The troy system allows the mass of precious metals like gold to be measured in smaller, more precise units than possible with only kilograms. Let’s look at some examples of converting between the two units.
Converting Kilograms to Troy Ounces
To convert kilograms to troy ounces:
- Take the number of kilograms.
- Multiply by 32.1507466 (the number of troy oz in 1 kg).
- 5 kg x 32.1507466 = 160.75373 troy oz
- So 5 kg of gold contains 160.75373 troy oz of gold.
Converting Troy Ounces to Kilograms
To go the other way, converting troy ounces to kilograms:
- Take the number of troy ounces.
- Multiply by 0.0311034768 (the number of kg in 1 troy oz).
- 50 troy oz x 0.0311034768 = 1.5551124 kg
- So 50 troy oz of gold has a mass of 1.5551124 kg.
Being able to quickly convert between the two units is important for both gold investors and gold dealers when tracking the precious metal holdings and pricing.
Troy Ounces vs. Avoirdupois Ounces
It’s important to note the difference between troy ounces and the avoirdupois ounces commonly used for other goods:
- Troy ounces are used for precious metals.
- Avoirdupois ounces are used for everyday goods.
Some key differences:
- 1 troy ounce = 31.1034768 g
- 1 avoirdupois ounce = 28.349523125 g
This makes the troy ounce about 10% heavier than the avoirdupois ounce. Always pay attention to the oz denomination, as using the wrong one can lead to significant miscalculations for precious metal weights.
The avoirdupois (avdp) system is everyday system of weights used in the United States and the United Kingdom for goods other than precious metals. Its main units are pounds and ounces.
Key facts about the avoirdupois ounce:
- Equal to 28.349523125 grams.
- Widely used for food, medicine, hardware, household goods.
- Distinct from the troy ounce used for precious metals.
Using avoirdupois ounces for precious metals will result in inaccurate weight and pricing calculations, off by nearly 10%. Always be sure to use troy ounces when dealing with bullion or jewelry.
Comparing Troy and Avoirdupois Ounces
|1 troy ounce
|1 avoirdupois ounce
This table summarizes the key mass relationships:
- 1 troy ounce = 1.09714 avoirdupois ounces
- 1 avoirdupois ounce = 0.911 troy ounces
So a troy ounce of gold will weigh about 10% more than an avoirdupois ounce of gold. Always keeping track of which system you are using is crucial for accurate pricing and record keeping.
Pricing Gold in Troy Ounces
The troy ounce is the standard unit used in the precious metals industry to price gold bullion and coins. Examples include:
- Gold spot price per troy ounce
- 1 oz American Gold Eagle coin
- 1 oz gold bar
- 10 oz gold bar
Using troy ounces allows pricing on a convenient, consistent scale. Dealers will weigh gold using calibrated scales in troy ounces or fractions. Large quantities are weighed in kilograms but prices are still based on troy ounces.
For example, a 1 kg (32.15 ozt) gold bar may be priced at $1,300 per oz. That makes the bar worth 32.15 x $1,300 = $41,795 total.
Gold Spot Price
The gold spot price is the current market price of one troy ounce of gold. This serves as the basis for pricing all gold products.
The spot price changes daily based on supply, demand, and other factors. It is quoted in US Dollars per troy ounce. You can check the current spot price on sites like Kitco.
If the spot price today is $1,300 per oz troy, then a 10 oz gold bar would be worth 10 x $1,300 = $13,000.
Gold coin and bar prices from dealers include a premium above the prevailing spot price. This premium covers the dealer’s costs and profit margin.
Premiums vary by product but commonly range from 3% to 8% over the spot price per ounce. So if gold spot is $1,300 per oz troy, a 1 oz coin may be priced at $1,300 x 1.05 = $1,365.
Measuring Gold in Troy Ounces and Grams
While pricing of gold is done on a per troy ounce basis, weights can be measured in both troy ounces and grams. Grams offer higher precision for small quantities.
For example, while pricing uses increments of 0.1 oz troy, weights can be measured in 0.01 gram increments. This allows precise measurement for jewelry, small bars, and coin fractions.
A digital scale capable of switching between grams and troy ounces is very useful for gold dealers and investors. You can weigh in grams for precision, then convert to ozt to determine a price.
Whether measuring in grams, milligrams, or troy ounces, be sure to pay attention to the units and apply the correct conversions. An error in units can lead to significant overpayment or loss on a high-value asset like gold.
Using Digital Scales
Digital scales with troy ounce and gram capability are essential for accurately weighing gold. Models like the GEMINI-20 Portable MilliGram Scale provide both units with 0.001 gram or 0.01 ozt precision.
To weigh gold using a digital scale:
- Select the troy ounce or gram unit.
- Place the gold item on the weighing tray.
- Wait for the stable measurement.
- Record the weight shown.
Quality scales allow easy switching between units to obtain both a precise gram weight and a pricing weight in troy ounces. This provides accuracy and versatility when buying and selling gold.
Using Gram Weights
Gram weights are a convenient way to measure and price very small gold items or quantities. For example:
- Jewelry might be priced per 0.1 gram instead of fraction of an ounce.
- A 2.5g gold bar has a higher resale value than a 0.1 ozt bar (about 3% more).
Pricing in grams becomes unwieldy for larger gold quantities, since kilograms are not used in pricing. But for small weights, pricing in grams or fractions of a gram can make sense for both buyers and sellers.
There are 32.15 troy ounces (ozt) in 1 kilogram (kg) of gold. The troy ounce is the standard unit used for measuring the mass and pricing of gold bullion and coins.
One troy ounce equals 31.1034768 grams, about 10% heavier than the avoirdupois (avdp) ounce used for everyday goods. Always pay attention to the oz denomination to avoid significant weight and pricing errors.
Precious metals dealers use digital scales capable of weighing gold in both grams and troy ounces. This allows precise measurement along with pricing based on troy ounces. Understanding gold pricing conventions and conversions between units is essential for investors and professionals dealing in the precious metal.