Question

I am trying to figure out how much 1.134 grams worth of gold will cost, if gold is at 380 dollars an ounce. I set up proportions like this:

380 doll./1.34 grams (how many grams are in an ounce) = BLANK/1.134 grams (mass of coins). I got $321.58. But this is incredibly unrealistic for gold to be $321.58 per gram. What did I do wrong?

Answer 1

My sources state that 1 oz. = 28.349 grams

Answer 2

I think gold, silver and jewels are sold by the troy ounce in which 12 troy ounces = 1 troy pound. The conversion is 31.1 grams = 1 troy oz.
380/oz x (1 oz/31.1 g) x (1.34 g) = ??

Answer 3

I note you used 1.134 grams one place and 1.34 another. I used 1.34. Change according to what is correct.