Gold is quoted internationally per troy ounce and locally in Egypt per gram, so converting between the two is the first step in checking any price you see quoted abroad.
One troy ounce equals exactly 31.1034768 grams — heavier than the everyday avoirdupois ounce of 28.35 g, which is a common source of error. One kilogram is 1,000 grams, or 32.1507 troy ounces. Egyptian shops always deal in grams; international headlines always deal in troy ounces.
To go from an international ounce price to an Egyptian gram price: divide by 31.1035, then multiply by the USD/EGP rate. To go the other way, multiply the local gram price by 31.1035 and divide by the exchange rate. Doing this check occasionally is the simplest way to confirm your local shop is quoting near the world price.
International quotes refer to pure gold (24K, 99.5%+ delivery standard). A 21K gram price is not comparable to an ounce quote until you divide it by 0.875. Comparing a 21K local price directly against XAU/USD makes Egyptian gold look 12.5% cheaper than it is.
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