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Historical Unit Breakdown

Gold Price in Every Weight Unit — March 24, 2023

International XAU/USD gold closed at $1,994 per troy ounce on this date, equivalent to $64.10 per gram. The table below converts that reference value into every major regional gold weight unit — from the South Asian Tola, Masha and Rattito Bangladesh's Vori, Thailand's Baht, Vietnam's Lượng, Iran's Mesghal, and the Chinese Tael, Mace and Candareen.

South Asian

5 units
UnitWeightPrice (USD)

1 Tolaتولا · तोला

Pakistan, India, Nepal

11.664 g$747.69

1 Mashaماشہ

1/12 Tola

0.972 g$62.31

1 Rattiرتی

1/96 Tola · gemstones

0.1215 g$7.79

1 Vori (Bhori)ভরি

Bangladesh

11.664 g$747.69

1 Ana (Anna)আনা

1/16 Vori

0.729 g$46.73

Metric & Global

3 units
UnitWeightPrice (USD)

1 Gramg

Worldwide standard

1 g$64.10

1 Kilogramkg

Bulk trade

1,000 g$64,102

1 Troy Ounceoz t

LBMA bullion standard

31.1035 g$1,994

East & Southeast Asian

6 units
UnitWeightPrice (USD)

1 HK Tael兩

Hong Kong, Macau

37.429 g$2,399

1 CN Tael兩

Mainland China

31.25 g$2,003

1 Mace錢

1/10 HK Tael

3.7429 g$239.93

1 Candareen分

1/100 HK Tael

0.37429 g$23.99

1 Bahtบาท

Thailand

15.244 g$977.17

1 Luong (Lượng)lượng

Vietnam

37.5 g$2,404

Middle Eastern

2 units
UnitWeightPrice (USD)

1 Mesghalمثقال

Iran

4.6083 g$295.40

1 Mithqalمثقال

Saudi, UAE, Egypt

4.25 g$272.43

Imperial & Western

2 units
UnitWeightPrice (USD)

1 Pennyweightdwt

1/20 Troy Oz

1.55517 g$99.69

1 Graingr

1/480 Troy Oz

0.064799 g$4.15

How to read this historical table

Every price above is derived directly from the international XAU/USD spot rate on this date ($1,994/oz) using fixed weight constants — 1 troy ounce = 31.1035 g, 1 tola = 11.664 g, 1 baht = 15.244 g, 1 lượng = 37.5 g, 1 mesghal = 4.6083 g, and so on. These multipliers are mathematical, not market estimates, so the conversions are exact.

Prices are shown in US dollars only. Historical local-currency gold rates depended on the exchange rate at the time (March 24, 2023 rates for PKR, INR, AED and others were materially different from today). For an accurate same-date local-currency value, see the country-specific archive link below this section when available.

The figures are pure metal value at international parity — they do not include the import duty, VAT/GST, jeweller making charges, or dealer margin that would have applied at retail counters on this date. For wedding-jewellery or coin pricing context, retail in 22K commonly added 5–15% on top of the spot value shown here.

On this day — March 24, 2023

Gold rose 0.80% from the prior trading session ($1,978.00 → $1,993.80 per ounce).

Friday — typically a higher-volatility close to the week. US monthly non-farm payrolls publish on the first Friday of each month at 8:30 AM ET, the single most-watched economic data release for gold.

Day 83 of 365 · Q1 2023 · 22.7% through the year

March 2023 gold market: Banking crisis sends gold back toward $2,000

Bullish

A banking scare drove a powerful safe-haven rally.

Gold surged in March 2023 as the collapse of Silicon Valley Bank and the rescue of Credit Suisse sparked fears of a wider banking crisis. Safe-haven demand and a sudden repricing of the Fed's rate path drove gold from around $1,810 back toward $2,000.

What drove gold in March 2023

  • Silicon Valley Bank collapse (Mar 10)
  • Credit Suisse rescue
  • banking-contagion fears
  • markets pricing in Fed cuts
Themes#banking crisis#safe-haven demand#Fed pivot hopes

Key events in March 2023

  1. Mar 10Silicon Valley Bank fails; safe-haven bid lifts gold
  2. Mar 19UBS agrees to rescue Credit Suisse; gold nears $2,000

What happened next

Gold held near $2,000 for months as the banking scare lingered and rate-cut bets built.

For gold buyers

March proved gold's enduring role as crisis insurance — when banks wobbled, gold was the asset investors reached for.

Key terms this month

Contagion:
The spread of financial distress from one institution or market to others, often triggering safe-haven demand.