How much does a pound of gold cost?

Given approximately $2,027.44 per troy ounce, a standard pound of gold would be about $29,560.08. Conversely, a troy pound, the pound measurement used in the precious metals market, consists of 12 troy ounces. Thus, at the same price per troy ounce, a troy pound of gold would cost around $24,329.28.

How do you calculate gold price per pound?

The current gold price per pound can be calculated by multiplying 14.58 troy ounces (the equivalent of one pound) by the present gold spot price ($1,995.78), resulting in a total of $29,098.47 USD for one pound of gold. This would also be the current 1 lb gold bar price, although gold bars are usually not measured by pounds.

How many ounces are in a pound of gold?

However, in terms of troy ounces, a standard pound has only 14.58 troy ounces. Given approximately $2,027.44 per troy ounce, a standard pound of gold would be about $29,560.08. Conversely, a troy pound, the pound measurement used in the precious metals market, consists of 12 troy ounces.