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Diamond carat weight is the measurement of how much a diamond weighs. A metric carat is defined as 200 milligrams. Each carat can be subdivided into 100 'points.' This allows very precise measurements to the hundredth decimal place. A jeweler may describe the weight of a diamond below one carat by its 'points' alone.
Since an ounce is 28.3 grams, a diamond has to weigh 141.5 carats to equal an ounce or 2264 carats to equal a pound. The term karat refers to a ratio and is used in describing the fineness of gold. Ten karat gold is 10/24ths (41%) pure gold. Fourteen karat gold is 14/24ths (58%).