How Much Is Singapore 916 Gold Now?

What are these mean in singapore(22K-916 GOLD ORNT 37.80 24K-999 TOLA BAR 4,285.00)?

• Answer:

  These are the prices of gold. 22K is the preferred quality when used for making jewellery in the South East Asian countries. In Europe 18K is preferrred while 14K seems to be used mostly in USA. The price is per gram, 24K -999 (is considered as pure gold) means that the gold content is 999 parts per 1000 parts and the price shown is for 1 kg. 22 K gold is 22 parts gold to 24 parts in the mixture. Another element is added to the gold, although this will depend upon whether one requires white gold, red gold or yellow gold. Interestingly, people buy shares in mining companies which spend large amounts of money exploring for gold. When they find it they spend additional millions digging the ore out of the ground and processing it at further considerable expense. Later banks and people buy the gold and most of it is then buried again in the bank vaults and private safes. A small percentage is used to manufacture jewellery which also spends much of its time under lock and key. Gold has served as a store of wealth for a long time.