What Is One Ounce Gold?
Precious metals such as gold, silver and platinum are measured in troy ounces (t/oz). The troy weights system back dates to 1400’s, introduced within the medieval British coinage system. The abbreviated term oz is commonly used within the gold trade across the globe and the price for gold is displayed either as troy ounces or per gram / grams.
So, what is troy ounce in grams? To be precise a one ounce (or one troy ounce) contains a minimum 31.1035 grams of (.9999 fine gold) 24 carat of pure gold. If you were looking at a 1 kilo bar of gold it would have 32.15 troy ounces approx.
Pure gold is referred as 24 carat / 24k / 24 ct. The term carat for gold should not be confused with the same term used for diamonds and gemstones. When Carat is used for gold or other precious metals it defines the Fineness of the metal, when the term Carat is used for diamonds or gemstones it generally refers to their weight.
How Much is an Ounce of Gold Price Today?
We have made it simple with live ounce of gold price graph which provides you with the updated prices of an ounce of gold in GBP, USD, EURO at the current market spot price. Gold bullion bar prices in the UK can vary depending on the gold spot rate variance.
If you’re looking to sell gold bars, please see our live spot price for gold or contact us with any questions.
How many grams in an ounce of gold?
Gold bars or gold ingots are typically cast in a rectangular shape, while gold coins tend to be round. It’s the same amount of metal by weight and purity with just different shapes for both products- they also come in 24 carat gold purity. The only difference is that you pay more per troy ounce when buying a coin than if your purchase was an identical bar because they have varying premiums depending on their size and design.
Below we’ll break down ounce gold rate calculation by first determining how many grams are contained in one ounce of pure gold bullion:
Gold bar: 31.103 grams
Gold coin (round): 31.104 grams
If you want to buy your gold by weight, it’s the same gram for both an ounce bar and a coin because they have identical purity standards. The only difference is that coins are sold at higher premiums due to their more decorative appearance and limited mintage quantities but this does not affect the amount of metal in each ounce or its value. Gold Coins like 1oz Gold Britannia’s and Gold Sovereigns in the UK are a great investment because they’re CGT free. Regular investors will be able to invest without having any of their profits taxed.
Gold is a valuable precious metal that has been being found as tiny granules and made into gold bricks, gold rectangles or even ingots for investment.
Which 1oz Gold Bars Can I Buy in the UK?
Physical gold is a great way to store value, and Bullionjoy has made it easy for everyone by providing options in different shapes. If you are looking for gold bars for sale then the following 1 ounce of physical gold bars are available:
- 1oz Best Value Gold Bar – The best value for the price is this 1oz gold bar from our Best Value gold bar range – it’s an easy way to make sure you’re storing your assets at their most market-friendly prices and will be securely delivered by post straight to your door by Royal Mail Special Delivery.
- Heraeus 1 Ounce Gold Bar – One ounce of pure gold from one of the largest and oldest producers in Europe with more than 160 years of experience.
- Metalor Gold Bullion Bar – Produced by an established Swiss refiner who specialises in refining precious metals, these bars have worldwide coverage ensuring that they are 100% covered on all markets and currencies.
- 1 Unze (One Troy) Umicore Pure Gold Bar – These bars come with exacting specifications including weight accuracy. They are from one of the world’s largest gold refiners and you can be assured that they will hold their value.
- Perth Mint Gold Bars – Produced by Australia’s oldest gold refinery, these bars adhere to all ISO standards for purity and weight accuracy.
- Pamp Suisse 1oz Gold Bar – Pamp, Suisse 1oz Gold Bar – With Swiss heritage and a focus on the latest refining technologies, these gold bars are produced with precision to ensure that they come in at 99.99% pure gold weight accuracy.
These gold bullion bars come with a certificate card confirming their authenticity for investors’ peace of mind. Looking to find out if your gold bullion bar is real? Then read our blog on ‘How To Tell If Gold Is Real‘.
Best physical gold bars to start investing in?
Gold bars are an excellent starting point for anyone interested in investing in precious metals. All of our 1 gram gold bars contain 99.99% pure gold, have been minted by a globally recognised manufacture, and come at a low cost to allow you to invest with peace of mind. We also offer bullion coins along with silver coins should you prefer those over gold bars.
Gold bars are a strong investment for beginners looking to invest in gold. Gold is the easiest type of metal to buy and sell, because it’s used as currency all over the world. One ounce gold bars are some of the best investments you can make if buying small quantities between 1 gram or 100 grams like one would usually do when investing with someone new to this form of trading; they’re easy enough that even beginners could figure out how much was being invested without having any experience beforehand which makes them very versatile from an investor standpoint! Part of investing is understanding when it’s the best time to sell your investment gold so be sure you read our blog post on this topic later!
If you’re interested in investing, look no further than our range of best-value gold bars, they are ideal for those who want to start investing in physical gold bullion coins or bars yet don’t want to purchase it all at once.