Published
Use troy ounces for precious metals.
International precious-metal references are normally quoted per troy ounce. One troy ounce equals 31.1034768 grams. It is not the same as the avoirdupois ounce used for many everyday goods, which is approximately 28.35 grams.
Write “troy oz” or “oz t” in documents where an ordinary ounce could be misunderstood. A bare “oz” may be familiar to an experienced bullion counterparty, but an RFQ should remove avoidable interpretation.
Keep nominal unit weight and total fine weight separate.
A requirement can be expressed as units—such as twenty 100 g bars—or as total fine weight—such as 2 kg of gold. The two are not interchangeable when the buyer needs a particular denomination. Twenty 100 g bars and two 1 kg bars contain the same nominal total, but create different handling, packaging and availability questions.
Where purity is below 100%, the contract should make clear whether a stated figure is gross bar weight or fine-metal content. Product markings and the executable quotation remain the controlling references.
Common conversion references.
The following values are useful for preparing a request; the quoted product specification should still control the transaction.
- 1 kilogram = 1,000 grams.
- 1 troy ounce = 31.1034768 grams.
- 1 tola = approximately 11.6638 grams.
- 100 grams = approximately 3.2151 troy ounces.
- 1 kilogram = approximately 32.1507 troy ounces.
How to state the requirement.
A clear line item reads: “Gold, 999.9, cast, 1 kg unit weight, 10 units; named producers preferred, alternatives subject to approval.” For smaller formats, include the exact unit mix rather than only the aggregate weight.
If several denominations are acceptable, rank them. This allows the trade desk to present an alternative without treating it as an approved substitution.
This article is informational and does not provide financial, tax or legal advice. Product, quantity and commercial terms are confirmed per RFQ.