Gold Cost Per Pound Calculator

How to Use This Calculator

1. Enter the current market price of gold per ounce in the "Gold Price per Ounce" field. This should be a decimal value (e.g., $1850.23).
2. Enter the weight of the gold in pounds in the "Weight (Pounds)" field. This should be a decimal value if the weight is not an exact whole number.
3. Click the "Calculate" button to compute the cost per pound.
4. The result will be displayed in the "Gold Cost Per Pound" field.

Understanding the Calculation

The calculator uses the following formula to determine the cost per pound:

Cost per Pound = (Gold Price per Ounce × 16) / Weight in Pounds

This formula works because there are 16 troy ounces in 1 pound. By multiplying the price per ounce by 16, we convert the price to a per-pound basis, then divide by the weight in pounds to get the final cost per pound.

Example

Suppose the current price of gold is $1850.23 per ounce, and you have 2.5 pounds of gold:

Cost per Pound = ($1850.23 × 16) / 2.5 = $29,603.68 / 2.5 = $11,841.47

So the cost per pound would be $11,841.47.

Applications

This calculator is useful for:

• jewelers determining the value of gold jewelry
• investors calculating the cost of gold bars or coins
• individuals selling or buying gold scrap
• anyone who wants to quickly convert gold prices per ounce to per pound