What is the price of 24 carat gold bar weighing 116 grams?

Answer 1

Gold price for the day means "gold price for the day" regardless of the weight. Today's gold price is 1855.15/oz. (Sep10, 2011)

1 ounce = 28.349 gram

116 divided on 28.349 = 4.091 oz

4.091 oz times the gold price of today which is 1855.15 = $7,589.41.

That's how you coagulate if you want to know the exact price however; places that sale that kind of bar they sale and buy at standard rates for the day depending on the gold price of the day after they take out their persentage as all other trades they do. So don't expect to sale your 116 gram at the above price and you can't buy it at that price either. You have to pay their standard commission from the daily price anyway.

Hope I was helpful.

Answer 2

24KT GOLD IS AS PURE AS IT GETS!! 24KT STANDS FOR PURE GOLD OR 999.9 % GOLD . The Karat Denomination in turn then denominates the overall value or cost of the gold you are buying!

Gold is a commodity , one that is openly traded in most major market's in every country and state/charter around the world and has served as the oldest form of monetary unit or "finance" for quite some time!

Gold is traded in troy ounces or Troy OZ. and the spot value listed on the metals exchange and commodity listing's is priced per troy ounce!!

For example gold: 1 x Tr. Oz @ $1225.00 (or whatever gold is trading at)

The price is based on the spot value for the day or minute and is constantly changing along with every other commodity traded on the open markets!

So here is the answer to your question based on Friday august 20th 2010 at market close!

1 gram of pure 999.9% gold or 24KT traded @ $39.48 per gram

1 troy ounce or Tr. Oz of 24KT Gold traded @ $1228.00 per Troy Ounce

1 kilogram (which is 1000 Grams "its easy to remember") Traded @ $39,481.12

Below is the equation penciled out for you:

The spot price of Gold in TROY OUNCES ($1228.00) X32.150747 ( which is how many Troy ounces are in a kilogram = 1000 grams )

$1228.00 x 32.150747 = $39,481.12

Any opportunity to buy or trade at a price that is even 3 or 4 thousand USD lower then this price is most likely a fraud or scam!! Traders and buyers please be aware that if it seems to good to be true then it is!!!

Answer 3

It is worth what someone wants to pay for it, no, honestly I mean that factually.

However its value is calculated at;

(Mm X Kt) Sp

Where Mm = mass, Kt = Karats OR specificall gold by % volume and finally Sp = spot price (actual value of gold at 100% purity by volume)

Remember though that primary sellers sell near, but over, spot, secondary sell over spot and final buyers buy at whatever they think it's worth.