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The price is determined by converting the current spot gold price for an ounce or gram of gold into the country"s currency. For example, the current spot gold price for 1 gram of gold would be ...

For example, if silver prices are $25 per ounce, we could say that $1 is valued at 1/25th of an ounce of silver. If we convert that to grams, that’s about 1.13 grams on the US dollar. Silver was a ...