Gold is priced in ounces, and the price changes very quickly. A pound would be sixteen times the ounce price.
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$17 309.0848 on 03-Aug-2010
Current gold price is 767.36 Pound Sterling per troy ounce. therefore 1lb (16oz) = £12,277.76 (Price as of 25th May 2014, gold price changes daily.)
Your question answer the question. 1lb=1lb
Gold is priced in ounces, and the price changes very quickly. A pound would be sixteen times the ounce price.
$2.79 1lb
16
12 oz, it measures on the troy scale.
- Assuming the gold is pure; 24kt - Current price of gold as of 8/8/11 in USD: ~$1707/oz - 16oz = 1lb ; 480oz= 30lb - 480oz * $1707/oz = ~$819,360
It changes on a minute-by-minute basis, but there are 12 troy ounces of gold in a pound (a troy ounce is heavier than a regular ounce) so, multiply the current spot price of gold by 12 and you've got it.
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