1) 1 ounce=31.1 grams
2) Less than 1% of the Gold mined annually is in nugget form.
Every year nugget discoveries become more rare. A one ounce
nugget is now more rarely found than a five carat diamond.
3) The vast majority of the gold mined is from hard rock (lode)
mines or open pit. It is this gold which is crushed, refined & sold
at the current gold price.
4) Of the 1% (nugget form) 95% of that is fine gold (1/16" diameter
or less).
5) As nuggets escalate in size they become more rare.
6) Natural gold nuggets are remarkably close to total purity
containing slight traces of silver and copper. Assay value is
generally 21 and 22 carats, significantly purer than the gold
normally used in the very finest jewelry.
7) Weight conversion is- 1 ounce of gold = 31.1 grams
