Start with fine gold—not gross doré weight
Gold benchmarks are quoted per fine troy ounce. To express a fine-gold reference per kilogram, multiply the USD-per-troy-ounce figure by 32.1507466. That conversion describes one kilogram of fine gold, not one kilogram of doré.
The gross lot is weighed and sampled under an agreed protocol. Independent assay establishes the gold and silver content used for commercial settlement.
A transparent commercial formula
A simplified gold component can be expressed as gross kilograms multiplied by gold fineness, multiplied by the fine-gold reference per kilogram, multiplied by the agreed payable percentage. The executed agreement controls the final calculation.
- Define the benchmark, pricing date and currency.
- Define sampling, assay and umpire procedures.
- State whether and how payable silver is calculated.
- List refining, treatment, logistics and penalty charges explicitly.
Why the public website shows a reference—not a firm offer
A current market card is useful context, but a firm doré price requires a verified lot, assay basis, delivery point, pricing period and completed counterparty diligence. Nexus therefore distinguishes the market reference from a transaction quotation.