September 25th 2012 – How Much is Gold Worth

Well hello goldbugs. I’m sure now there is a smile on most of your faces after gold finally broke out of the $1600 trading range where it had been stuck for the best part of several months drifting listlessly in the ‘Precious Metal Doldrums’. Whether it was the fervour of Indian Independence Day or some nefarious Central Bank dealings, 15th August will be duly noted as the day the trade winds got behind gold and set a course for the $1800 barrier. 14 days is all it took to fly through the $1700 mark and onwards to $1770 where it has now paused. Wednesday 19th September’s candlestick was a Doji(D) which is generally understood to mean that there is indecision among traders as to the direction price will take. This clearly was the case as the action over the following days was quite up and down.

Firstly a Hanging Man(HM) was posted in which price dropped but then clawed its way back up to close at the day’s open. The following day, September 21st, gold surged upwards in a Shooting Star(SS) motion but was forced back down by close to once again be held at the $1775 mark.

So what does it all mean? Well gold is clearly being tested and a pullback as indicated by waning momentum on the Daily MACD chart may yet be on the cards before gold can attack this level once more.

But don’t count on it. A quick reversal is still quite possible as it has happened many times in the past and caught many a ‘shorts’ unaware. Long term momentum is still upwards so tread carefully.

How Much is 100 Grams of Gold Worth

Since the spot price of gold is quoted in troy ounces, this can make figuring out how much 100 grams of gold worth a little tricky. There are three ways to go about this. Firstly you can simply use the specially designed ‘How Much is 100 Grams of Gold Worth’ calculator shown below. Secondly you can determine the gram price of gold and multiply it by 100 and thirdly, you can convert 100 grams into troy ounces and then multiply that by the spot price of gold.

How Much is 100 Grams of Gold Worth

Bullion GOLD
Calculation VALUE of 100g GOLD
STEP 1 Enter This Gold Price =>
STEP 2 Select Gold Purity
Purity Karat Mil.F.(999) Help (Purity)
Help (Quantity)
Quantity Grms Tolas Troy Ounces
100g Gold is Worth $ Convert Currency


How To Use This Calculator

By Karat

In order to calculate how much 100 grams of 24k gold is worth, leave the purity setting at 24k. Examples of this would be a 100 gram PAMP Suisse gold bar.

In order to calculate how much 100 grams of 22k gold is worth, set the purity to 22k.

In order to calculate how much 100 grams of 18k gold is worth, set the purity to 18k.

In order to calculate how much 100 grams of 14k gold is worth, set the purity to 14k.

By Milessimal Fineness

If your gold is stamped with a three digit number rather than a karatage, then select the millesimal fineness radio button instead and enter it into the purity field. For example, in order to calculate how much 100 grams of 999.9 gold is worth, enter ’9999′ into the purity field.

Calculating the Price of Gold per Gram

The price of gold is quoted in Troy Ounces which is a unit of Imperial Measure that was used widely throughout the British Empire after the ‘British Weights and Measures Act’ of 1824. Even though the metric system of weights and measures is now commonly used internationally, the Troy Ounce has survived as a ‘gold standard’ by which the price of gold is quoted. In the metric system, a Troy Ounce is equal to 31.1034768g. Thus in order to calculate the gram price per gold, you need to divide the spot price for an ounce of gold as follows.

Gram Price of Gold = Spot price of Gold/ 31.1035 (rounded)

Subsequently, 100 grams of pure 24 karat gold is worth:
100 * Gram Price of Gold

Converting 100 Grams of Gold to Troy Ounces

Given that a Troy Ounce is equal to 31.1034768g:
100 grams = 100/ 31.1034768 = 3.215 Troy Ounces

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