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Historical Unit Breakdown

Gold Price in Every Weight Unit — May 1, 2024

International XAU/USD gold closed at $2,351 per troy ounce on this date, equivalent to $75.59 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$881.69

1 Mashaماشہ

1/12 Tola

0.972 g$73.47

1 Rattiرتی

1/96 Tola · gemstones

0.1215 g$9.18

1 Vori (Bhori)ভরি

Bangladesh

11.664 g$881.69

1 Ana (Anna)আনা

1/16 Vori

0.729 g$55.11

Metric & Global

3 units
UnitWeightPrice (USD)

1 Gramg

Worldwide standard

1 g$75.59

1 Kilogramkg

Bulk trade

1,000 g$75,591

1 Troy Ounceoz t

LBMA bullion standard

31.1035 g$2,351

East & Southeast Asian

6 units
UnitWeightPrice (USD)

1 HK Tael兩

Hong Kong, Macau

37.429 g$2,829

1 CN Tael兩

Mainland China

31.25 g$2,362

1 Mace錢

1/10 HK Tael

3.7429 g$282.93

1 Candareen分

1/100 HK Tael

0.37429 g$28.29

1 Bahtบาท

Thailand

15.244 g$1,152

1 Luong (Lượng)lượng

Vietnam

37.5 g$2,835

Middle Eastern

2 units
UnitWeightPrice (USD)

1 Mesghalمثقال

Iran

4.6083 g$348.34

1 Mithqalمثقال

Saudi, UAE, Egypt

4.25 g$321.26

Imperial & Western

2 units
UnitWeightPrice (USD)

1 Pennyweightdwt

1/20 Troy Oz

1.55517 g$117.56

1 Graingr

1/480 Troy Oz

0.064799 g$4.90

How to read this historical table

Every price above is derived directly from the international XAU/USD spot rate on this date ($2,351/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 (May 1, 2024 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 — May 1, 2024

Gold rose 0.64% from the prior trading session ($2,336.25 → $2,351.13 per ounce).

Akshaya Tritiya: One of the most important gold-buying days in the Hindu calendar — Indian households often buy gold for the day, treating it as auspicious for wealth and prosperity. India's monthly gold imports typically surge 20–40 percent in the month containing Akshaya Tritiya.

Wednesday — a normal trading day. FOMC announcements (when scheduled) typically come on Wednesdays at 2 PM ET, often producing intraday gold volatility.

Day 122 of 366 · Q2 2024 · 33.3% through the year

May 2024 gold market: Fresh record near $2,450

Bullish

Another record as gold entered open-ended price discovery.

Gold set another record around $2,450 in May, supported by softening US data, renewed rate-cut hopes, and continued central-bank and Asian demand. The metal was now firmly in price-discovery mode with few historical reference points.

What drove gold in May 2024

  • softening US economic data
  • rate-cut hopes rebuilding
  • central-bank and Asian demand
  • price discovery above all prior records
Themes#all-time high#price discovery#central-bank demand

Key events in May 2024

  1. May 20Gold prints a record near $2,450/oz

What happened next

After a summer consolidation, gold cleared $2,500 in August.

For gold buyers

May's record near $2,450 rewarded conviction holders; with no overhead resistance, the trend remained a buyer's friend.