How is the value of gold determined?
Answers
Answered by
0
the value of gold is determined by the purity level of gold.
Answered by
0
The general method to get today's gold value is simple.
To get the value of gold in grams, you need to divide today's gold price per ounce divided by 31 (1 troy ounce is nearly 31 G) if today's international gold price is $400 per ounce so that 1G gold will cost 400/31 = $13 per gram.
Indian gold industry doesn't follow the exact rule where they vary it on other parameters.
IBJA (the Indian Bullion Jewelers Association) is the determining boards of everyday gold price in India.
Similar questions