How an ounce price in dollars becomes a gram price in lei.
Spot gold is quoted in US dollars per troy ounce. One troy ounce is 31.1035 grams.
Divide by 31.1035 for the gram price in USD, then multiply by USD/RON for lei. The value of a piece also depends on its fineness.
The formula
Price per gram (RON) = price per ounce (USD) ÷ 31.1035 × USD/RON rate × fineness ÷ 1000
Questions about selling scrap gold or buying 14K gold jewellery wholesale? Contact Ervam Gold or use our scrap gold calculator.