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The value of an ounce of gold changes daily on the spot gold market. To calculate the value of 800 pounds of gold you multiply the spot price of gold for that day times 16 (for one pound of gold) and then multiply that amount times 800. For example if the price of an ounce of gold is $850 today, you would calculate the value of 800 pounds of gold as follows: $850 X 16 X 800=$10,880,000
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