Gold gram
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2008-04-28T10:50:49Z
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A '''gold gram''' is the amount of value represented by exactly one [[gram]] of [[gold]]. It is a [[unit of account]] frequently used for [[digital gold currencies]]. It is sometimes denoted by the symbol "gg", "AUG", or "GAU".
A milligram of gold is sometimes referred to as a mil or mgg. Therefore, 1 AUG = 1 gg = 1000 mgg = 1000 mil, and 1 mil = 1 mgg = 0.001 gg = 0.001 AUG. This allows gold holdings and transfers to take place in tiny fractions of a gram (equivalent to a few [[Cent (currency)|cents]])
A possible source of confusion is that gold is often priced on the open market in the more traditional [[troy ounce]] (one troy ounce is exactly 31.1034768 grams, which is larger than the [[avoirdupois]] ounce generally in use in the [[United States]] and has a mass of 28.35 grams). Some services such as [[BullionVault]] use [[kilogram]] prices of gold, with the smallest denomination being 0.001 kg or 1 g (equivalent to approximately [[US$]]27.70 as of January 2008). Kilogram gold prices are also commonly used by the Zurich Gold Pool, where 1,000 kilograms = one [[metric tonne]].
== See also ==
* [[Digital gold currency]]
* [[Digital currency exchanger]]
* [[Gold standard]]
==External links==
* [http://dgcsc.org/goldprices.htm Prices of Gold Grams in various fiat currencies]
[[Category:Gold investments]]
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