Analysis

A karat is not a unit of weight.  The word karat refers to the amount of gold in a particular item. Karats are measured in units of 24, where 24 karat gold is pure gold. 18 karat gold is 18 parts gold and 6 parts alloys such as copper, nickel, silver or zinc. 14 karat gold is 14 parts gold and 10 parts alloy.

"1 Troy ounce contains 2.75 grams more"...

So what is the difference between a Troy Ounce, and a standard ounce. This is a very common question, and one that most people have trouble answering without some reference.

Surprisingly there are 2 totally different methods for calculating silver/gold vs the method used to calculate everything else.

The most likely explanation is that Gold, Silver, and even Gun Powder are such universal and important materials, that a standard measurement system is not an option but a requirement. That unfortunately means that the people from the United States are at a small disadvantage, when it comes to properly measuring these things with the standard machines we might use in day to day life.

Exact measurements are as follows

• 1 troy ounce = 31.1034768 grams or 480 grains
• 1 ounce = 28.3495231 grams or 437.5 grains

The troy ounce is heavier than the typical grocery store (avoirdupois) ounce used in the USA. When you purchase a 1 ounce silver or gold coin, you are receiving a "troy" ounce. If you put that same 1 troy oz. coin on a grocery store scale you will find that it weighs about 10% more than the food  (avoirdupois) ounce you are familiar with.  It will weigh about 1.1 avoirdupois ounces.  A troy ounce is equivalent to about 31.1 grams and One avoirdupois ounce weighs

28.35 grams

Renowned gold expert Jim Sinclair says financial calamity is just around the corner for America.  Sinclair contends, “We are facing the annihilation of currency.  We are facing the shift of America as the leading and most influential nation of the world to some form of banana republic. . . . If it wasn’t for food stamps, we would be facing long lines of people waiting for free food.”  For gold, everything hinges on the U.S. dollar, and Sinclair says, “I think the dollar gets hammered.  I believe we are headed for hyperinflation.”  One of the many black swans, according to Sinclair, is the possible abandonment of the U.S. dollar by Saudi Arabia.  If Saudi Arabia stopped selling oil only in U.S. dollars, what would that do to the buying power of the buck?  Sinclair says gasoline would be “$10 a gallon very soon, without a doubt.”
Sinclair predicts retirement funds and bank deposits are going to be taken by the government.  How much of your money could you lose?  Sinclair says, “In Cyprus, it was a total of 83%. . . . Cypress is the blueprint, and it’s what we are going to experience here in the United States.”  Jim Sinclair, who has just accepted the position as Chairman of the Advisory Board for the establishment of the Singapore Gold Exchange, says, “The exchange will trade physical gold only and not future gold. . . . You have to make delivery.”  Meaning, there will be no naked short selling or manipulation of this new market.  Sinclair says, “This will emancipate gold from the paper price.”  How high will gold go?  Sinclair predicts, by 2016, “Gold will be $3,200 to $3,500 an ounce.”  By 2020, Sinclair predicts, “Emancipated gold will be $50,000 per ounce.” 
  Day's Range: $1195.6 - $1203.3 per ounce
Prices Updated: Dec 24, 2013 at 11:46 NY Time

Day's Range: $1292.6 - $1298.6
Prices Updated: Mar 28, 2014 at 06:21 NY Time

Can you afford to purchase an ounce? Grams are more practical to purchase and to convert to dollars later.