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Understanding Gold Prices: What is a Troy-ounce?

new gold prices

The troy-ounce is a unique weight used for precious metals and precious stones. This is based on 12 pounds to the pound instead of the traditional 16 ounces, meaning that a troy-ounce of actual weight is more than the standard ounce. A troy-ounce is 31.1034768 grams or 0.0311034768 kilograms.  History of Troy-ounce The term “troy-ounce” … Read more