Term of the Day

Gold gram

A gold gram is the amount of value represented by one gram of gold. It is a unit of account frequently used for digital gold currencies. It is sometimes denoted by the symbol "gg" or "AUG".


A milligram of gold is sometimes referred to as a mil. Therefore, 1000 mil = 1 AUG.


A possible source of confusion is that gold grams are often priced by the traditional Troy ounce. To simplify this mis-marriage of units, services such as BullionVault are increasingly using kilogram prices of gold. Kilogram gold prices are also commonly used by the Zurich Gold Pool.



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