Platinum and palladium price per gram from a troy ounce quote

How to calculate it

Platinum and palladium spot markets often quote currency per troy ounce. One troy ounce is 31.1034768 g. Divide the quoted amount by that factor to get a spot benchmark for one gram of pure metal. For an item with stated purity, multiply by the fine-metal fraction and then by the metal weight. Keep currency consistent and distinguish a bid, ask and reference quote. A platinum quote cannot be substituted for a palladium quote.

Worked example

At a hypothetical platinum quote of 1,000 per troy ounce, one pure gram is about 32.15. A 20 g item of verified 95% platinum contains 19 g fine platinum, with a spot-metal benchmark of roughly 610.86 in the quote currency. At a hypothetical palladium quote of 900, a pure gram is about 28.94; that is a separate calculation. These are arithmetic examples, not current prices.

What can change the result

Hallmarks, alloy composition, recoverable weight and refining losses matter. Automotive catalyst material is not a simple weighed bar of pure metal. Jewellery labour, tax, retailer margin and buyer spreads can make quoted prices very different. Check the quote timestamp, unit and currency before comparing, and have uncertain purity tested.

Use the calculators and keep reading

Use the separate platinum and palladium calculators rather than changing only a label. Enter weight, unit, purity and the correct metal’s live or custom quote. Compare the result with the linked article on contained-metal value versus retail jewellery price.

Try the platinum price calculator, palladium price calculator calculator and read this related article for the context and assumptions.

Reference

https://www.nist.gov/document/precious-metals-conversion-information-march2015pdf