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As of midday on July 1, 2011, the spot price of gold is US$1,484.50 per troy ounce. 22 karat gold is (22/24) = 91.666% gold, so a troy ounce of 22kt gold is worth US$1,360.79. Gold is often measured out in grains (480 per troy ounce) pennyweights (20 per troy ounce) or grams (31.1035 per troy ounce) - 22kt gold would thus have a spot price of US$2.83 per grain, US$68.04 per pennyweight, or US$43.75 per gram.
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