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Gold prices are constantly fluctuating based on
market demand and supply. The spot price of gold represents the current market value of an ounce of gold. The premium on 1 oz of gold refers to the additional cost above the spot price, often due to factors like rarity, design, or brand. The price per gram of gold can be calculated by dividing the spot price by 31.1035 (the number of grams in an ounce). Gold prices have hit record highs recently, fueled by factors such as inflation concerns, geopolitical tensions, and central bank buying.
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