Troy ounce and its measurement, application in stock trading
The Trinity ounce is a unit of mass used in weighing a wide variety of materials.
1 Trinity ounce is equivalent to 31.1034768 grams, and this is the unit officially used to convert ounces into our usual units of weight and vice versa.
It can be said that one kilogram contains 32.15074656862798 troy ounces or one ounce, in percentage terms, is about 3.11% of 1 kilogram.
In stock trading, this unit of measurement is used when trading assets such as gold, silver, platinum and palladium.
For example, today the price of gold on the exchange is 1836 US dollars per 1 troy ounce; it is easy to calculate that, according to exchange prices, 1 gram of precious metal with a fineness of 9999 costs 59.03 US dollars.
The situation is similar with silver, only in this case the price for 1 troy ounce is already $21.65, while one gram of silver costs only $0.70:
It's worth noting that this isn't the only issue you'll encounter if you decide to trade precious metals on the exchange. All transaction volumes in precious metals trading have a universal size, expressed in lots.
For example, 1 lot of gold XAU/USD is equal to 100 troy ounces, meaning the price for 1 lot will be $183,600, while for silver it is already 500 ounces, meaning the cost of one lot will be $10,825.
The fact that stock exchange prices are expressed in ounces rather than grams is completely irrelevant; you trade volume and track only price changes, regardless of the unit of measurement of the chosen asset.
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It's a different matter if you buy and sell precious metals in real life. Then you'll have to constantly recalculate the exchange rate into grams by dividing the current price value:
1836/31.1034768 = 59.03 US dollars
In this case, you will receive the exchange price for 1 gram of gold or other precious metal.
