Know more about Gold

Know more about Gold

Gold is a precious yellow metal. The chemical symbol of Gold is ‘Au’ which is the short form of Latin word “Aurum” which means ‘Glowing Dawn”. Its weight is usually expressed internationally in Troy Ounce (Oz) and the currency is denoted as “XAU”. The standard weight in which gold is quoted in the international markets is Troy Ounce weighing 31.1035 gms and must have a minimum purity /fineness of 995. The purity of gold is generally described in three ways as under:

PERCENT	FINENESS	KARATS	Comments
(Parts of gold per 100)	(Parts of gold per 1000)	(Parts of gold per 24)
99.99 Percent	999.9 Fine	24 Karat	Pure Gold
99.95 Percent	999.5 Fine	24 Karat	Pure Gold
99.90 Percent	999.0 Fine	24 Karat	Pure Gold
99.50 Percent	995.0 Fine	24 Karat	Pure Gold
99.00 Percent	990.0 Fine	24 Karat	Minimum allowed for Pure Gold
95.83 Percent	958.3 Fine	23 Karat	Western India
91.67 Percent	916.7 Fine	22 Karat	Indian Subcontinent
87.50 Percent	875.0 Fine	21 Karat	Arabic Countries
75.00 Percent	750.0 Fine	18 Karat	Standard International Karatage
58.33 Percent	583.3 Fine	14 Karat	USA
41.67 Percent	416.7 Fine	10 Karat	Minimum in USA
37.50 Percent	375.0 Fine	9 Karat	Minimum in UK
33.33 Percent	333.3 Fine	8 Karat	Minimum inGermany
The gold conversion factors are as below:
1 Gram	Troy Ounce
Pure gold	0.032151
999.9	0.032148
999	0.032118
995	0.031989
1 Troy Ounce	Gram
Pure Gold	31.1035
9999	31.1061
999	31.1351
995	31.2607