BijanDiamonds.com Dictionary
Weight:
The standard unit of weight used for gemstones. One carat equals .200 grams (or 200 milligrams). Usually abbreviated ct. Diamonds are weighed to a thousandth (0.001) of a carat and then rounded to the nearest hundredth, or point. Over a carat, diamond weights are usually expressed in carats and decimals. A 1.03 ct. stone, for example, would be described as "one point oh three carats," or "one oh three." A diamond that weighs 0.83 ct. is said to weigh "eighty-three points," or an "eighty-three pointer."