How do you calculate the value of 1 gram of gold?

Internationally, the metal value of gold is given in US dollars and troy ounces, so the different weight units must be taken into account when converting. An example: The current gold price is $2,123.20 per troy ounce (as of March 5, 2024). 1 gram of gold is equal to 0.032 troy ounces. Therefore, the metal value of 1 gram of gold is approximately $68 (2123.20 x 0.032).