If you have ever been confused by gold being quoted in ounces internationally but sold in grams at your local jeweller, you are not alone. Gold is traded globally in troy ounces on exchanges like COMEX in New York and LBMA in London, but retailers across India, UAE, and Saudi Arabia quote prices per gram or per tola for practical purchasing. Today, gold is $3,971.07/oz internationally, which translates to $127.67/gram — and after India's 15% import duty and 3% GST, the retail rate reaches ₹14,133/gram for 24K gold.

Understanding the Troy Ounce — The Global Gold Standard

The troy ounce is the internationally recognised unit for pricing precious metals. It dates back to the Middle Ages, originating in Troyes, France, and has been the global standard ever since. One troy ounce = 31.1034768 grams — about 10% heavier than the avoirdupois ounce (28.35g) used for everyday measurements in the US and UK.

When you see gold quoted at "$3,971" on financial news, that is per troy ounce. To get the price per gram, divide by 31.1035. So today: $3,971.07 ÷ 31.1035 = $127.67/gram.

Gold Price Today — Per Gram vs Per Ounce (All Units)

Unit Grams USD (24K) INR (24K) AED (24K)
1 gram 1g $127.67 ₹14,133 AED 468.88
1 tola 11.6638g $1,489.12 ₹164,844 AED 5,468.92
10 grams 10g $1,276.70 ₹141,330 AED 4,688.80
1 Troy Oz 31.1035g $3,971.07 ₹439,586 AED 14,583.81
100 grams 100g $12,767.00 ₹1,413,300 AED 46,888.00
1 kg 1000g $127,670.00 ₹14,133,000 AED 468,880.00

Gold Price Per Gram — All Karats, All Countries (June 26, 2026)

Karat USA ($/gram) India (₹/gram) UAE (AED/gram) Saudi (SAR/gram)
24K $127.67 ₹14,133 AED 468.88 SAR 478.77
22K $117.03 ₹12,955 AED 429.81 SAR 438.87
21K $111.71 ₹12,366 AED 410.27 SAR 418.92
18K $95.75 ₹10,600 AED 351.66 SAR 359.08
14K $74.47 ₹8,244 AED 273.51 SAR 279.28
9K $47.88 ₹5,300 AED 175.83 SAR 179.54

Why Is Gold Priced Differently in India vs International Markets?

The international spot price of gold ($3,971.07/oz = $127.67/gram) represents the raw market price for 24K gold on COMEX. India's retail price of ₹14,133/gram is significantly higher due to a layered cost structure:

  • Import Duty: India levies 10% basic customs duty + 5% AIDC (Agriculture Infrastructure Development Cess) = 15% total on gold imports
  • GST: 3% Goods and Services Tax on gold purchase value
  • Dealer margin: Typically 1-3% above the MCX rate
  • Making charges: Additional 5-25% for jewellery (not included in base gram rate)

This is why gold from Dubai or Singapore is cheaper than buying in India — UAE charges 0% VAT on investment gold bars and only 5% on jewellery, making it one of the world's most competitive gold markets. See our UAE gold rate guide for details.

Spot Price vs Retail Price — The Full Breakdown

Price Component India (₹/g) % of Final Price
International spot (converted)₹12,192~86%
Import duty (15%)₹1,829~13%
GST (3%)₹421~3%
Total retail rate (24K)₹14,133100%

How to Calculate Gold Price Yourself

Formula 1 — International to USD/gram:

Price per gram (USD) = Spot price per oz ÷ 31.1035
Today: $3,971.07 ÷ 31.1035 = $127.67/gram

Formula 2 — USD gram to India INR:

INR/gram = (USD/gram × USD/INR rate) × 1.15 (duty) × 1.03 (GST)
Today: ($127.67 × 95.50) × 1.15 × 1.03 = ₹14,133/gram

Formula 3 — Any karat price:

22K price = 24K price × (22 ÷ 24) = ₹14,133 × 0.9167 = ₹12,919/gram

Gold Calculator — Per Gram to Per Ounce Converter

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Why Does Gold Price Change Every Day?

Gold is traded 24 hours a day, 5 days a week on global markets. The price changes constantly based on several key factors:

  • US Dollar strength: Gold is priced in USD — when the dollar weakens, gold in USD terms rises. This is the single biggest daily driver.
  • Federal Reserve interest rate decisions: Higher rates make yield-bearing assets more attractive vs gold (no yield).
  • Central bank buying: China, India, and other nations buying or selling gold reserves directly moves prices.
  • Geopolitical events: Wars, sanctions, and crises drive investors to safe-haven assets like gold.
  • USD/INR exchange rate: For Indian prices, even if USD gold is flat, a weaker rupee raises Indian gold prices automatically.

For real-time tracking, see our live gold rates page with daily updated prices across all countries and karats.

Should You Buy Gold by the Gram or by the Ounce?

For Indian retail investors, buying in grams makes the most practical sense — whether via gold coins (1g, 2g, 5g, 10g), jewellery, or digital gold. Gold ETFs and Sovereign Gold Bonds are also denominated in grams in India.

For institutional buyers or serious investors seeking maximum value per rupee, 100g or 1kg bars have the lowest premiums (closest to spot price) but require larger capital outlay. A 1kg MMTC-PAMP gold bar, for instance, is sold at a much smaller percentage above spot than a 1g coin.

Consider our related guide: How to invest in gold with little money in India.

People Also Ask — Gold Per Gram vs Per Ounce

What is the gold price per gram today in India?▼
Today (June 26, 2026) gold price per gram in India is ₹14,133 for 24K, ₹12,955 for 22K, and ₹10,600 for 18K gold. Per 10 grams: 24K = ₹141,330. These rates are sourced from MCX and IBJA.
How many grams are in one troy ounce of gold?▼
One troy ounce of gold equals exactly 31.1034768 grams. This is the standard unit used to price gold internationally on COMEX and LBMA exchanges. Note: A troy ounce is heavier than a regular (avoirdupois) ounce — 1 troy oz = 31.1g vs 1 regular oz = 28.35g.
Why is gold quoted in ounces but sold in grams in India?▼
Gold is traded globally in troy ounces on international exchanges like COMEX (USA) and LBMA (London). However, in India, retail buyers purchase gold in grams or tolas because these smaller units are more practical for jewellery and coin purchases. Jewellers convert the international ounce price to grams using the formula: Price per gram = Spot price ÷ 31.1035.
What is the difference between spot price and retail price of gold?▼
The spot price is the raw international market price for one troy ounce of gold — currently $4,017.32/oz. The retail price (what you pay at a jeweller) is higher because it includes: (1) Import duty — 15% in India, (2) GST — 3% on gold + 5% on making charges, (3) Making charges — 5-25% of gold value, (4) Dealer margin. The spot-to-retail gap in India is typically 18-25%.
How to convert gold price from ounce to gram?▼
To convert gold price from ounce to gram: Divide the price per ounce by 31.1035. Example: $4,017.32/oz ÷ 31.1035 = $129.16/gram. For Indian prices, multiply by the USD/INR rate (~95.50) and add 15% import duty + 3% GST to get the retail rate.
Is it cheaper to buy gold per gram or per ounce?▼
Larger quantities always have lower premiums per unit. Buying a 1 oz (31.1g) gold bar is cheaper per gram than buying 31 individual 1-gram bars, because the manufacturing and dealer costs are spread over more metal. In India, 100g and 1kg bars have the lowest premiums, while 1g coins have the highest.
What is 1 tola of gold in grams?▼
1 tola = 11.6638 grams. This traditional South Asian unit is widely used in India, Pakistan, and Gulf countries. At today's rate: 1 tola of 24K gold costs ₹164,791 in India. Some jewellers round 1 tola to 10 grams for simplicity, but the technically correct conversion is 11.6638 grams.

External Resources for Gold Price Verification