Enter the total cost of gold and the weight of gold into the calculator to find the cost of gold per pound.
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Gold Cost Per Pound Formula
The following equation is used to calculate the cost of gold per pound.
PCG = TGC / GW
- Where GCP is the cost of gold per pound ($/lb).
- TGC is the total cost of gold ($)
- GW is the total weight of gold (lbs)
To calculate the cost of gold per pound, divide the cost of gold by the weight of gold in pounds.
What is the average cost of gold per pound?
The current gold price per pound as of 2022 is $22,372.00.
The average cost of gold per pound depends on many factors. The type of gold you buy, the karat grade, and the form of the gold (for example, bar or scrap) all affect the price you pay. Additionally, where you buy from also has a significant impact on how much you pay for your gold.
The price of gold is based on the spot price of the metal, which changes daily. Current market supply and demand determine the spot price.
Gold miners can affect gold market prices by reducing or increasing production levels. Gold mining companies allocate a certain amount of money each year to explore and drill new deposits. This amount increases or decreases the total supply of gold on the market and affects its value and price per pound.
