Gold prices: from the ounce to the gram and mesghal

The units

• 1 troy ounce = 31.1035 grams — the unit of world gold prices.
• 1 mesghal = 4.608 grams — the traditional Iranian unit.
• 18 karat = 75% gold — the usual standard for jewellery in Iran.

The calculation

24k gram price = ounce price in dollars × dollar rate ÷ 31.1035
18k gram price = 24k gram price × 0.75
mesghal price  = gram price × 4.608

Worked example (example numbers, not today's prices)

If gold were $2,000 an ounce and the dollar 60,000 Toman:

• 24-karat gram: 2,000 × 60,000 ÷ 31.1035 ≈ 3,858,087 Toman
• 18-karat gram: ≈ 2,893,565 Toman
• 18-karat mesghal: ≈ 13,333,548 Toman

Local market prices can differ from this calculation, because of supply, demand and the exchange rate actually used.

What a piece of jewellery costs

A jewellery price is more than the gold. It usually adds a making charge for the work, the seller's profit, and value-added tax on those parts. Ask for an itemised invoice that shows the weight, the karat and each charge.

Tools for this

• Currency and gold converter

The numbers in the example are illustrations only, not current prices. Check today's rates before buying or selling.