Gold Stater is an Egyptian gold-price tracker that shows the price in both grams and ounces. This guide explains why grams are used locally and ounces globally, and how to convert between the two precisely.
Why ounces globally?
International markets have priced gold in the troy ounce since the sixteenth century. The troy ounce is not the same as the ounce used for food. A troy ounce equals exactly 31.1034768 grams; the everyday ounce is about 28.3495 grams. The difference matters: do not use a generic online ounce converter for gold.
Why grams locally in Egypt?
The gram is a familiar metric unit for the Egyptian consumer. Jewelry is sold by the gram because pieces are small (mostly 1 to 50 grams). Quoting prices by the ounce at the jeweler would be impractical for an ordinary buyer.
How do you compute the ounce from the gram?
- One ounce = about 31.1034768 grams.
- Ounce price = gram price times 31.1034768.
- Gram price = ounce price divided by 31.1034768.
Example: if the 24K gram price is 4,100 EGP, the ounce price is 4,100 times 31.1034768, roughly 127,524 EGP. When comparing with the converted London price, use the same factor.
Are bars priced by the ounce or the gram?
In Egypt, local bars are usually priced by the gram, but imported investment bars (such as PAMP or Credit Suisse) are priced by the ounce or in multiples. Bars of 1, 5, 10, and 100 grams are common locally.
The price difference between ounce and gram
The converted ounce price follows London plus the exchange spread. The local gram price carries the Egyptian market premium (see our guide on the local vs global gap). So the imported ounce price is not always the local ounce times 31.1034768; the gap can be 2% to 5%.
How do we show both units in Gold Stater?
On the main price page we show the per-gram price for every karat (24, 22, 21, 18, 14) and the per-ounce price for pure gold. On the ounce price page you see the direct comparison between the local and converted-global ounce price in pounds.
What about the kilogram?
One kilogram is 1,000 grams, roughly 32.15 ounces. Large investment bars are sold by the kilo. The kilo price is the gram price times 1,000, sometimes with a small discount on large bars because fabrication cost is nearly fixed regardless of weight.
What is the difference between the troy ounce and the regular ounce?
In daily life the "ounce" is a food weight unit equal to 28.3495 grams. In precious metals the "troy ounce" is 31.1034768 grams exactly. The difference is about 9.7%, a large error when converting. Many generic online converters use the regular ounce and misprice gold by up to ten percent. The rule: for gold, always use 31.1034768 grams.
A practical example with 2026-04-29 prices
Assume the 24K gram price in Egypt on 2026-04-29 is 4,150 EGP. The local ounce is 4,150 times 31.1034768, roughly 129,079 EGP. If London is 2,420 USD and the dollar is 50.6 EGP, the converted ounce is 122,452 EGP. The gap is 129,079 minus 122,452 = 6,627 EGP, or 5.4%. That premium is paid by anyone buying gold in Egypt versus London. Track current prices on the ounce price page.
What are common conversion mistakes?
1. Using 28.35 instead of 31.10: the avoirdupois ounce is 28.3495 grams, but the troy ounce for gold is 31.1034768 grams, a 9.7% difference.
2. Rounding to a whole number: using 31 instead of 31.10 loses 0.3% per conversion, and errors accumulate on large invoices.
3. Confusing raw spot price with the retail price: spot does not include workmanship or local premium; the shop price is 1.5% to 5% higher.
Conclusion
For small daily transactions, rounding to 31.10 grams is fine. For a kilo bar or a bank reserve calculation, use the full 31.1034768 so accumulated error stays negligible. On the ounce price page we use the full figure for every conversion.
Sources
- LBMA: official troy ounce definition and global trading standards
- World Gold Council: gold market statistics by ounce
- goldapi.io: ounce reference price in USD, last verified 2026-04-29
- exchangerate-api.com: daily USD rate for conversion
- Central Bank of Egypt (CBE): gold reserve pricing