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

The international metal value of gold is expressed in US dollars per troy ounce, which means that the exchange rate and various weight units must be taken into account when converting. For example, the current price of gold is $2,123.20, and 1 dollar is approximately 0.79 pounds sterling (as of March 5, 2024). Since 1 gram of gold is equal to 0.0321507 troy ounces, the metal value of 1 gram of gold is approximately £53.92 (2,123.20 x 0.79 x 0.0321507).