Precious Metals and Commodity Glossary Actuals — Physical cash commodities as opposed to futures contracts. Ag — See "Argent". Chemical symbol for silver. Alloy — Mixture of more than one element, generally metallic, which is more useful than either metal on its own. Allocated Metal — Refers to the accounting assignment, or reporting of, defined quantities of specific physical products to a particular account. For example, a custodian may have 100 ten-ounce gold bars in its care and "allocate" 50 bars to account A and 50 bars to account B. Allocated precious metals products may be segregated or commingled, fungible or non-fungible. Approved Carriers — Armored carriers approved by an Exchange for the transportation of silver, gold, platinum, and palladium. Argentum — Latin. Its abbreviation, Ag, is used as the chemical symbol for silver. Ask — A motion to sell. The same as offer. The Ask price is the price at which a dealer offers to sell a commodity. Assay — To test a metal for purity or quality. Au — See "Aurum". Chemical symbol for gold. Aurum — Latin.

Its abbreviation, Au, is used as the chemical symbol for gold. B Backwardation — Market situation in which futures prices are lower in each succeeding delivery month. Also known as an inverted market. The opposite of contango. Bactericides — Materials that kill bacteria, such as silver salts. Bank Wire — Funds transferred through the Federal Reserve System from one financial institution to another for the benefit of a specific account. Base Metal — Copper, aluminum, iron, lead, nickel, tin and zinc. Basis — The differential that exists at any time between the cash, or spot, price of a given commodity and the price of the nearest futures contract for the same or a related commodity. Basis may reflect different time periods, product forms, qualities, or locations. Cash price minus Futures price equals Basis. Bear Market — Market in which prices are in a declining trend. Bid — A motion to buy a commodity at a specified price. Opposite of offer. The Bid price is the price at which a dealer offers to buy a commodity. Bullion — Precious metals that are traded based on their intrinsic metal value. Bullion may be in the form of bars, plates, ingots and coin.

Bullion Coin — A precious metal coin whose market value is determined by its inherent precious metal content. They are bought and sold mainly for investment purposes. Bull Market — Market in which prices are in an upward trend. C Carry Market — A market situation in which prices are higher in the succeeding delivery months than in the nearest delivery month. Also known as contango, it is the opposite of backwardation. Carrying Charge — The total cost of storing a physical commodity over a period of time. Includes storage charges, insurance, interest, and opportunity costs. Cash — U.S. currency. D Deliverable Bar — A precious metals bar with a weight, fineness and hallmark approved as a tradable unit on a commodity exchange. Delivery — Delivery generally refers to the change of ownership or control of a commodity under specific terms and procedures established by the Exchange upon which the contract is traded. Typically, except for energy, the commodity must be placed in an approved warehouse, depository, or other storage facility, and be inspected by approved personnel, after which the facility issues a warehouse receipt, shipping certificate, demand certificate, or due bill, which becomes a transferable delivery instrument. Delivery of the instrument usually is preceded by a notice of intention to deliver.

Delivery Point — A location designated by an exchange at which delivery may be made in fulfillment of contract terms. Depository or Warehouse Receipt — A document issued by a depository institution indicating ownership of a commodity stored in a vault or warehouse. In the case of many commodities deliverable against futures contracts, transfer of ownership of an appropriate depository receipt may affect contract delivery. Derivative — Financial instrument derived from a cash market commodity, futures contract, or other financial instrument. Derivatives can be traded on regulated exchange markets or over-the-counter. For example, futures contracts are derivatives of physical commodities, options on futures are derivatives of futures contracts. Dore Bullion — An impure alloy of silver or gold produced at a mine. Ductility — An ability to change shape drastically without breaking. The capacity of a metal to be hammered into a thin sheet or drawn into a fine wire. E Exchange of Futures for Physicals (EFP) — A futures contract provision involving an agreement for delivery of physical product that does not necessarily conform to contract specifications in all terms from one market participant to another and a concomitant assumption of equal and opposite futures positions by the same participants at the time of the agreement. F Face Value — The monetary value worth of a coin.

This does not necessarily correspoind to its actual worth. For example, a pre-1965 U.S. half dollar has a face value of $0.50 but its intrinsic value is tied to the price of silver and much higher. Fineness — The purity of precious metal measured in parts per thousand. A "Good Delivery" bar contains a least 995 part pure gold and no more that 5 parts other metals or impurities. A bar that is 999.9 fine is 99.99% pure gold and referred to as "four nines" gold. Fine Weight — The weight of precious metal contained in a coin or bullion as determined by multiplying the gross weight by the fineness. Fine Silver — Pure silver. Generally 99.9% pure. Fungible — Interchangeable. Products that can be substituted for purposes of shipment or storage. Futures Contract — A contract between a buyer and seller, whereby the buyer is obligated to take delivery and the seller is obligated to provide future delivery of a fixed amount of a commodity at a predetermined price at a specified location.

Futures contracts are most often liquidated prior to the delivery date and are generally used as a financial risk management and investment tool rather than for supply purposes. These contracts are traded exclusively on regulated exchanges and are settled daily based on their current value in the marketplace. G Gold — A chemical element in the periodic table that has the symbol Au (L. aurum) and atomic number 79. A soft, shiny, yellow, heavy, malleable, ductile (trivalent and univalent) transition metal, gold does not react with most chemicals but is attacked by chlorine, fluorine and aqua regia. The metal occurs as nuggets or grains in rocks and in alluvial deposits and is one of the coinage metals. Gold is used as a monetary standard for many nations and is also used in jewelry, dentistry, and in electronics. Gold/Silver Ratio — The number of ounces of silver required to buy one ounce of gold at current spot prices. Good Delivery — Approved metals brands acceptable for delivery against the metals contracts. H Hallmark — A stamped impression on the surface of a precious metals bar that indicates the producer, serial number, weight, and purity of metal content.

Hedge — The initiation of a position in a futures or options market that is intended as a temporary substitute for the sale or purchase of the actual commodity. For example: the sale of futures contracts in anticipation of future sales of cash commodities as a protection against possible price declines, or the purchase of futures contracts in anticipation of future purchases of cash commodities as a protection against the possibility of increasing costs. I Intrinsic Value — The actual value of the precious metals contained within a bullion bar or coin. Inverted Market — A futures market is said to be inverted when distant contract months are selling at a discount to nearby contract months; also known as backwardation. K Karat — A measure of the purity of gold. Pure gold is 24-karat. 22-Karat gold is 22/24ths pure or 91.67% pure. L Legal Tender — Coins that have been authorized by Congress. This includes circulating coins and all commemorative coins legislated by Congress. Licensed Warehouse — Warehouse that has been approved for the storage of silver or gold deliverable against a silver or gold futures contracts.

Licensed Weighmaster — An organization approved by an exchange to witness and verify the weighing of silver or gold delivered against a silver or gold futures contract. Liquid Market — A market characterized by the ability to buy and sell with relative ease. London Fix — Price set each day in London by five old-line firms. The "fixing price" reflects the price at which buy and sell orders from the firms' customers' are in balance. The London Fix is an internationally recognized benchmark price for that particular moment in time. M Malleable — Having the property of being deprived of form, accepting deformation under pressure or hammering without rupture or fracture. Market Value — The total price of a bullion bar or coin inclusive of intrinsic value and any premium or discount. Money Order — Order for the payment of a specified amount of money, usually issued and payable at a bank or post office. N National Futures Association (NFA) — Futures industry trade association which promulgates rules of conduct and mediates disputes between customers and brokers. Non-Fungible - Opposite of fungible. Product is not interchangeable. O Offer — A motion to sell a commodity at a specified price. Opposite of bid.

The Offer price is the price at which a dealer offers to sell a commodity. P Palladium — A chemical element with symbol Pd and atomic number 46. A rare silver-white transition metal of the platinum group, palladium resembles platinum chemically and is extracted from some copper and nickel ores. It is primarily used as an industrial catalyst and in jewelry. Pd — Used as the chemical symbol for palladium. Personal Check — A bank draft drawn on an individual account or a company account and signed by an authorized person. Platinum — A chemical element in the periodic table that has the symbol Pt and atomic number 78. A heavy, malleable, ductile, precious, gray-white transition metal, platinum is resistant to corrosion and occurs in some nickel and copper ores along with some native deposits. Platinum is used in jewelry, laboratory equipment, electrical contacts, dentistry, and automobile emissions control devices. Premium — The market value of a coin less the intrinsic value of its metal content. A coin that contains $6.00 of silver (intrinsic value) and sells for $7.50 (market value) has a $1.50 premium. Pt — Used as the chemical symbol for platinum.

S Securities and Exchange Commission (SEC) — An independent agency that administers federal securities laws and regulates the firms that buy and sell those securities. Settlement Price — The price established by the Exchange settlement committee at the close of each trading session as the official price to be used by the clearinghouse in determining net gains or losses, margin requirements, and the next day's price limits. The term "settlement price" is often used as an approximate equivalent to the term "closing price." The close in futures trading refers to a brief period at the end of the day, during which transactions frequently take place quickly and at a range of prices immediately before the bell. Therefore, there frequently is no single closing price, but a range of prices. In months with significant activity, the settlement price is derived by calculating the weighted average of the prices at which trades were conducted during that period. Silver — A chemical element in the periodic table that has the symbol Ag (from the traditional abbreviation for the Latin Argentum) and atomic number 47. A soft white lustrous transition metal, silver has the highest electrical and thermal conductivity of any metal and occurs in minerals and in free form. This metal is used in coins, jewelry, tableware, and photography.

Spot — Term which describes one-time open market cash transaction, where a commodity is purchased "on the spot" at current market rates. Spot transactions are in contrast to term sales, which specify a steady supply of product over a period of time. Spot Market — A market of immediate delivery of product and immediate payment. Spot Month — The futures contract closest to maturity. The nearby delivery month. Spread — The difference between the bid price and the ask price of a bullion bar or coin. Sterling Silver — Silver of a fineness of 92.5%. T Troy Ounce — A unit weight, equal to 1.09711 avoirdupois ounces. The troy ounce is the traditional unit weight for precious metals, believed to be named after a weight used at the annual fair at Troyes in France in the Middle Ages. 1 ounce Troy = 480 grains = 31.1035 grams = 1.09711 avoirdupois ounces U Unallocated Metal — Refers to the accounting assignment, or reporting of, precious metals balances denominated in ounces to a particular account, also known as a statement account.

Unallocated holdings are sometimes referred to as "pooled holdings" because they may comprise a mix of various products held at various custodians. The mix of products (in ounces) equals the unallocated balance (in ounces). In an unallocated account, specific bars or coins are not assigned to any particular customer; customers own a proportionate interest in the bulk holdings. Gold: Facts about gold | Trade Commodities Gold Here you will find more info about gold and how to trade gold. Precious metal gold has always fascinated people. Its metallic yellow color has inspired pharaohs to compare it with the sun. The Roma and the Incas called gold the “metal of the gods’. In elementary name, Au, comes from the Latin word aurum. Gold has seven value-bearing properties: Gold is a luxury / luxury product, appreciated by most people. Gold can be traded in almost any currency. Gold is easy to transport. This precious metal is retained complete stable over time. Gold can be considered accurate. It is not easy to make gold or produce it artificially. Gold can not be fabricated. Read more about some of the other common commodities to trade .

Latest news Aurum metallicum | Article about Aurum metallicum by The Free Dictionary Aurum metallicum | Article about Aurum metallicum by The Free Dictionary Also found in: Dictionary , Thesaurus , Medical , Legal , Financial , Wikipedia . gold, metallic chemical element; symbol Au [Lat. aurum=shining dawn]; at. no. 79; at. wt. 196.96657; m.p. 1,064.43&degC;; b.p. 2,808&degC;; sp. gr. 19.32 at 20&degC;; valence +1 or +3. Gold is very ductile and is the most malleable metal; it can be beaten into extremely thin sheets of gold leaf. Only silver and copper, which are above it in Group 11 of the periodic table periodic table, chart of the elements arranged according to the periodic law discovered by Dmitri I. Mendeleev and revised by Henry G. J. Moseley. In the periodic table the elements are arranged in columns and rows according to increasing atomic number (see the table entitled ..... Click the link for more information.

, are better electrical conductors. Gold is chemically inactive. It is unaffected by moisture, oxygen, or ordinary acids but is attacked by the halogens halogen [Gr.,=salt-bearing], any of the chemically active elements found in Group 17 of the periodic table; the name applies especially to fluorine (symbol F), chlorine (Cl), bromine (Br), and iodine (I). ..... Click the link for more information. . Aqua regia (a mixture of nitric and hydrochloric acids that liberates chlorine) is so named for its ability to dissolve gold, the "king" of the metals. Gold forms both aurous (univalent) and auric (trivalent) compounds; auric chloride and chloroauric acid are its most common compounds. A relatively soft metal, gold is usually hardened by alloying with copper, silver, or other metals. White gold, a substitute for platinum, is an alloy of gold with platinum, palladium, nickel, or nickel and zinc. Green gold, also used by jewelers, is usually an alloy of gold with silver. Alloys of gold with copper are a reddish yellow and are used for coinage and jewelry.

Gold is often found in nature alloyed with other metals; when more than 20% of silver is present the alloy is called electrum. The gold content of an alloy is commonly stated in carats, a carat being 1-24 part by weight of the total mass. Pure gold is therefore 24 carats fine; an alloy that is 75% gold is 18 carats fine. Fineness is sometimes expressed in terms of parts per thousand; thus gold containing 10% of other metals is said to have a fineness of 900. Gold is widely distributed on the earth; although large amounts are present also in seawater, the cost of current methods for recovering it exceeds its value. Most gold is found in the metallic state in the form of dust, grains, flakes, or nuggets. It occurs, usually in association with silver or other metals, in quartz veins or lodes so finely disseminated that it is not visible. It is found also in alluvial placer deposits, which are worked by panning, dredging, and hydraulic mining.

Gold is extracted from its ores by mechanical means and separated from other metals by chemical processes, notably the cyanide process cyanide process or cyanidation, method for extracting gold from its ore. The ore is first finely ground and may be concentrated by flotation; if it contains certain impurities, it may be roasted. ..... Click the link for more information. , the amalgamation process amalgamation process , in particular, a method to extract gold and silver from ores. The ore is crushed and treated with mercury, in which the metal dissolves. The amalgam is heated and the mercury evaporates, leaving pure gold or silver. ..... Click the link for more information. , and the chlorination process (in this the ore is oxidized and chlorinated and the gold precipitated with hydrogen sulfide). It also occurs in compounds, notably telluride minerals. Gold has been known from prehistoric times and was possibly the first metal used by humans. It was valued for ornaments (see goldwork goldwork, ornaments, jewelry, and vessels created from gold. Such works have figured in almost every stage of civilization as symbols of wealth and power. The Ancient World The earliest-known fine goldwork is from Ur in Mesopotamia.

Dating from c.3000 B.C. ..... Click the link for more information. ), and magical efficacy was attributed to it. In the Middle Ages alchemists sought to transmute baser metals into gold. The quest for gold stimulated European explorations and conquests in the Western Hemisphere, and its discovery has led to many a gold rush gold rush, influx of prospectors, merchants, adventurers, and others to newly discovered gold fields. One of the most famous of these stampedes in pursuit of riches was the California gold rush. ..... Click the link for more information. . Much of the gold now extracted is used for jewelry. The chief producers are China, Australia, the United States (especially in Nevada and Alaska), South Africa, Peru, Russia, Indonesia, and Canada. For a discussion of the monetary function of gold, see bimetallism bimetallism , in economic history, monetary system in which two commodities, usually gold and silver, were used as a standard and coined without limit at a ratio fixed by legislation that also designated both of them as legally acceptable for all payments. ..... Click the link for more information.

; coin coin, piece of metal, usually a disk of gold, silver, nickel, bronze, copper, aluminum, or a combination of such metals, stamped by authority of a government as a guarantee of its real or exchange value and used as money. ..... Click the link for more information. ; international monetary system international monetary system, rules and procedures by which different national currencies are exchanged for each other in world trade. Such a system is necessary to define a common standard of value for the world's currencies. ..... Click the link for more information. ; money money, term that actually refers to two concepts: the abstract unit of account in terms of which the value of goods, services, and obligations can be compared; and anything that is widely established as a means of payment. ..... Click the link for more information. . Gold No other metal is named as frequently in the Bible as gold. The Bible most often refers to gold as a form of worldly wealth, but gold also serves as a symbol of spiritual wealth. In biblical times, gold was rarer than today. For the most part, only kings or the very wealthy possessed it. Gold was one of the three gifts that the Magi offered to the baby Jesus.

Therefore, the Magi's gift of gold is most often interpreted as recognition of Jesus'kingship or his spiritual authority. Until the mid-1700s tradition dictated that the British monarch offer gifts of frankincense, gold, and myrrh at the Chapel Royal on Epiphany. Heralds and knights of the Garter, Thistle, and Bath accompanied the king on his royal pilgrimage. Under the unstable King George III (1760-1820) the procession was abandoned, although the monarch's gift of gold, frankincense, and myrrh is still sent to the Chapel Royal by proxy. A similar royal offering was at one time customary in Spain. Gold has been considered rare, valuable, and beautiful throughout history. In addition to its beauty and brightness, gold has some unusual properties. It is nearly indestructible, and yet it is also the most malleable of metals. A single ounce of gold can be beaten into a sheet of gold leaf that measures approximately 200 feet on each side. Gold does not tarnish or corrode, and is extremely resistant to wear. Finally, it is often found in a nearly pure state.

These qualities enhance its value, versatility, and mystery. Further Reading Coughenour, Robert A. "Gold." In Paul J. Achtemeier, ed. HarperCollinsBible Dictionary. Revised edition. San Francisco, Calif.: HarperSanFrancisco, 1996. Crippen, Thomas G. Christmas and Christmas Lore. 1923. Reprint. Detroit, Mich.: Omnigraphics, 1990. Peattie, Donald Culross. "Gold, Frankincense, and Myrrh." Saturday Eve-ning Post 264, 6 (November 1992): 56. Gospel Accounts of Christmas Gold (Latin, Aurum) Au, a chemical element in Group I of the Mendeleev periodic system. Atomic number, 79; atomic weight, 196.9665. A heavy yellow metal. Gold has one stable isotope, 197Au. Historical survey. Gold was the first metal known to man. Golden articles are found in cultural layers of the Neolithic epoch (fifth to fourth millennium B.C. ).

In ancient states—Egypt, Mesopotamia, India, and China—the mining of gold and the manufacture from it of ornaments and other objects existed as early as 3000–2000 B.C . Gold is mentioned often in the Bible, the Iliad, and the Odyssey, and in other ancient literary monuments. The alchemists called gold the king of metals and designated it by the symbol for the sun . The chief object of alchemy was to discover ways of transmuting base metals into gold. Distribution in nature. The average content of gold in the lithosphere is 4.3 × 10−7 weight percent. Gold is scattered in magma and magmatic rocks, but hydrothermal gold deposits (quartz gold-bearing veins, and so forth), which are important industrially, are formed from hot waters in the earth’s crust. In ores, gold occurs mainly in the free (native) state and only very rarely forms minerals with selenium, tellurium, antimony, and bismuth. Pyrites and other sulfides frequently contain an admixture of gold, which is extracted in the processing of copper ore, complex ores, and others.

In the biosphere, gold migrates in complexes with organic compounds; in river suspensions, it migrates mechanically. One liter (l) of river or sea water contains about 4 × 10−9 g of gold. In some parts of gold ore deposits the underground water contain about 10−6 g/l of gold. This gold migrates in soils; from the soil it enters plants, some of which (for example, Equisetatum and Zea mays) concentrate gold. The destruction of endogeneous gold deposits results in the formation of gold placers, which are of industrial importance. Gold is mined in 41 countries, the main reserves being concentrated in the USSR, the republic of South Africa, and Canada. Physical and chemical properties. Gold is a soft, very plastic, and ductile metal (it can be hammered into leaves as thin as 8 × 10−5 mm and drawn into wire that weighs as little as 1 gram for every 2 km). It is a good conductor of heat and electricity and it is extremely resistant to chemical action. The crystal lattice of gold is a face-centered cubic array; a = 4.704 angstroms (A).

Atomic radius, 1.44 Å; ionic radius of Au1+, 1.37 Å. Density (at 20°C), 19.32 g/cm3; melting point, 1064.43°C; boiling point, 2947°C; thermal coefficient of linear expansion, 14.2 × 10−6 (0°-100°C); specific thermal conductivity, 311.48 watts/m-°K[0.744 cal/cm-sec-°C]; specific heat, 132.3 joules/ (kg · °K) [0.0316 cal/(g · °C)] (at 0°-100°C); specific electric resistance, 2.25 × 10−8 ohm · m (2.25 × 10−6 ohm · cm) (at 20°C); electric resistance temperature coefficient, 0.00396 (0–100°C).

Modulus of elasticity, 79 × 103 meganewtons (MN) per m3 (79 × 10−2 kilograms-force [kgf] per mm2). For annealed gold the tensile strength is 100–140 MN/m2 (10–14 kgf/mm2); the relative elongation, 30–50 percent; and the necking, 90 percent. After cold plastic deformation the tensile strength rises to 270–340 MN/m2 (27–34 kgf/mm2). The Brinell hardness is 180 MN/m2 (18 kgf/mm2) (for gold annealed at about 400°C). The outer electron configuration of the gold atom is 5d106s1. In compounds the valences of gold are 1 and 3. (Complex compounds are known in which gold is bivalent.) Gold does not react with nonmetals (except for halogens). It forms halides with halogens; for example, 2Au + 3Cl2 = 2AuCl3.

Gold dissolves in a mixture of hydrochloric and nitric acids to give chloroauric acid H[AuCl4]. In solutions of sodium cyanide (NaCN) or potassium cyanide (KCN) with simultaneous access of oxygen, gold is converted to sodium auricyanide 2Na[Au(CN)2] (univalent gold). This reaction, discovered in 1843 by P. R. Bagration, found practical application only at the end of the 19th century. Characteristic of gold is its ready reducibility from compounds to metal and its complexing ability. The existence of a univalent gold oxide, that is, aurous oxide (Au20), is doubtful. Univalent aurous chloride AuCl is obtained by heating the chloride of trivalent gold, auric chloride: AuCl3 = AuCl + Cl2 Auric chloride AuCl3 is obtained by treating thin gold leaf or spicules with chlorine at 200°C.

With water, the red needles of AuCl3 give a brown-red solution of complex acid: Aucl3 + H2O = H2[AuOCl3] Treatment of a solution of AuCl3 in water with caustic alkali precipitates an amphoteric yellow-brown hydroxide of trivalent gold, Au(OH)3, with mainly acidic properties; for this reason, the hydroxide is called auric acid and its salts, aurates. Heat converts auric hydroxide (trivalent gold) to auric oxide, Au2O3, which decomposes above 200°C: 2Au2O3 = 4Au + 3O2 Augrim.Com AUGRIM.COM Augrim stones were used for counting and basic mathematics. More generally, augrim refers to reckoning with Arabic numerals, that is, counting and calculating.

It is supposed that "augrim" is an Old English corruption of "algorithm," which is itself a corruption of "al-Khuwarizimi," a reference to 9th Century Arab mathematician Abu Jafar Muhammed ibn Musa al-Khuwarizmi, who wrote a book entitled al-jabr wa al-muqabalah ("Calculating by Restoration and Reduction"). This is also the source of the word "algebra." Au (from the Latin aurum) is also the symbol for Gold. It has an atomic number of 79 and an atomic weight of 196.9665. We perform analysis on price trends for precious metals, including Gold and Silver. Historic Price Data Prediction Ten findings from William Sherdan's The Fortune Sellers: The Big Business of Buying and Selling Predictions: The forecasting skill of economists is on average about as good as guessing. In fact, predictions by the politically driven Council of Economic Advisors, Federal Reserve Board and Congressional Budget Office were often worse than guessing. Economists cannot predict the turning points in the economy. Of 48 predictions made by economists, 46 missed the turning points. Economic forecasting accuracy declines with longer lead times.

No economic forecasters consistently lead the pack in accuracy. No economic ideology consistently produces superior forecasts. No economic forecaster has consistently higher forecasting skills predicting any particular economic statistic. Consensus forecasts do not improve accuracy (although the press loves them). Psychological bias affects forecasters and their forecasts. Some economists are naturally optimistic and bullish, others are consistently pessimistic bears. Increased sophistication provides no improvement in forecasting accuracy. Remember the Long-Term Capital Management hedge fund? Two brilliant Nobel Economists backed by Wall Street's elite nearly sabotaged the world economy. There is no evidence that economic forecasting has improved in recent decades. In fact, forecasting appears to be deteriorating as partisan politics, Wall Street gaming and unpredictable global events invent new illusions. Gold - Wikiquote Gold Bright and yellow, hard and cold. To virgin minds, which yet their native whiteness hold, Not yet discoloured with the love of gold (That jaundice of the soul, Which makes it look so gilded and so foul) ~ Abraham Cowley Gold is a chemical element with the symbol Au (from Latin: aurum "gold") and an atomic number of 79. Gold is a dense, soft, shiny metal and the most malleable and ductile metal known.

Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. It has been a valuable and highly sought-after precious metal for coinage, jewelry, and other arts since long before the beginning of recorded history. Quotes[ edit ] In a cartoon... King: "REMEMBER THE GOLDEN RULE!" Peasant: "WHAT’S THAT?" Another peasant: "WHOEVER HAS THE GOLD, MAKES THE RULES!" Remember the Golden Rule (1971), by Brant Parker and Johnny Hart (collection of 1967 The Wizard of Id newspaper cartoons) [1] . But still less should the gold of rich men lazily sleep its heavy sleep in the urns and gloom of treasuries. This so weighty metal, when it becomes the associate of a fancy, assumes the most active virtues of the mind. It has her restless nature. Its essence is to vanish. It changes into all things, without being itself changed. It raises blocks of stone, pierces mountains, opens the gates of fortresses and the most secret hearts; it enchains men; it dresses, it undresses women with an almost miraculous promptitude.

It is truly the most abstract agent that exists, next to thought. But thought exchanges and envelops images only, whereas gold incites and promotes the transmutations of all real things into one another; itself remaining incorruptible, and passing untainted through all hands. Paul Valéry , Eupalinos, or the Architect (1921), in Dialogues (Bollingen Series XLV 4/Princeton University Press, 1989), translated by William McCausland Stewart, pp. 147–8. [A]ny article which is well known to be valued by a large and easily accessible class of persons may be taken habitually in exchange for valued commodities , although those who take it do not want it for their own use , and it does not, on its own merits , occupy such a place on their relative scale as would justify the exchange.

… If there is some article of very generally recognised value which actually takes its place, as directly significant , on the scales of a great number of people , it may come to be generally accepted , without any special calculation or consideration, by people who are not thinking of any use they may have for it themselves, but are aware that it occupies a sufficiently high relative place on the scales of others to recoup them for what they give in exchange for it. As soon as this custom begins to be well established it will automatically extend and confirm itself, and the commodity in question will become a " currency " or " medium of exchange ," the special characteristic of a medium of exchange being that it is accepted by a man who does not want it, or does not want it as much as what he gives for it, in order that he may exchange it for something he wants more. … Concurrently with these developments, or perhaps in advance of them, the custom will grow up of estimating the marginal significance of things in terms of the generally accepted article even when the article does not pass from hand to hand in exchanges. … The convenience of such a standardising of values is obvious .

If everything is scheduled in terms of one selected commodity it is indefinitely easier than it would otherwise be to realise the terms on which alternatives are open to us; and if any man defines his marginal estimate of anything he possesses in terms of this standard commodity any other member of the community will at once know whether or not it stands higher on his own scale than on the other's, and therefore whether or not the conditions for a mutually advantageous exchange exist. In England the functions of a standardising commodity and of a medium of exchange are both alike performed by gold. Gold is applied to a vast number of purposes in the arts and sciences , and were it more abundant it would replace other metals in many more. Consequently a great number of easily accessible persons actually give a relatively high place to gold on their scales of preference, in virtue of its direct significance to them. It is established by custom (and, so far as that is possible, by law) as the universally accepted commodity; and at the same time it is used as the common measure in terms of which our estimates of all exchangeable things may be stated. Philip Wicksteed , " Money and Exchange ," ch.

4 of The Common Sense of Political Economy , Book I, Systematic and Constructive, contained in ed. Lionel Robbins , The Common Sense of Political Economy and Selected Papers and Reviews on Economic Theory vol. I (London: Routledge & Kegan Paul LTD, 1910, 1933, 1957), pp. 136–138. Hoyt's New Cyclopedia Of Practical Quotations[ edit ] Quotes reported in Hoyt's New Cyclopedia Of Practical Quotations (1922), p. 325-26. You shall not press down upon the brow of labor this crown of thorns—you shall not crucify mankind upon a cross of gold! What is the Latin word for gold? What is the Latin word for gold? The chemical symbol for gold AU, taken from the Latin word for Gold. While the word gold has went through many evolutions that brought us the word we use today, few people realize the extent of its origins. One common question is why the chemical symbol for gold is Au. The answer to this question points us back to the Latin etymological roots of the metal.

In Latin, the word used to describe gold was Aurum, hence the first two letters of the word, Au, have been the noble metals chemical designation. Even in ancient times, gold's look alike was causing problems for prospective fortune seekers so the Latin speaking people of the time coined the phrase "Aurum Nostrum Non Est Aurum Vulgi" which translates to "Our gold is not ordinary gold" or "Our gold is not fools gold" which was a way of saying that their business dealings were fair trades and not dishonest. It may have also been a reference to the mysterious science of alchemy, in which the alchemists were assumed to have been attempting to transform lead into gold. It is believed that the transformation was an allegory for the spiritual transformation of an individual rather than physically changing lead into gold. Thus, the saying may have been a coded reference giving a subtle hint to outsiders that the alchemist aurum was more than just a quest for monetary gains. It is also to be noted that in the Latin language, aurum was the name for gold but it also had several other connotations. The word could be used to refer to the yellow color of gold, coins made of gold or even gold plated items.

We still hold this tradition in our modern language when we use phrases like "golden hair" to describe someone with blonde locks. Related Pages: Gold – TaHa Limited Gold Investing in gold Gold is a chemical element with the symbol Au (from Latin: aurum, “shining dawn”, hence adjective, aureate) and an atomic number of 79. Gold has been a highly sought-after precious metal for coinage, jewelry, and other arts since the beginning of recorded history. For thousands of years, gold has been valued as a global currency, a commodity, an investment and simply an object of beauty. Gold and its alloys have been used for decorative purposes for more than 6,000 years. As financial markets developed rapidly during the 1980s and 1990s, gold receded into the background and many investors lost touch with this asset of last resort. Recent years have seen a striking increase in investor interest in gold. While a sustained price rally, underpinned by the fact that demand consistently outstrips supply, is clearly a positive factor in this resurgence.

With the sharp growth of economies in the 20th century, and increasing foreign exchange, the world’s gold reserves and their trading market have become a small fraction of all markets and fixed exchange rates of currencies to gold became unsustainable. For those who aspire to invest in the precious metals sector are confronted with a decision: should they buy precious metals (i.e. gold, silver, and platinum) or mining stocks? The answer depends on factors like risk tolerance, timing, and understanding of the mining industry. From an investment perspective, gold has one feature that separates it from common commodities: the ability to buy and store directly as an investment strategy. We are the associate and lead coordinator to a ninety-three year old European Financial Trading House and Fund Management Company to source and buy raw and refined gold. Contractual agreements are with renowned corporations and trusts. info@tahalimited.com Glossary of Bullion Terms - Gold Price OZ Glossary of Bullion Terms Glossary of terms used in the precious metals market Menu☰ Glossary of Bullion Terms - Gold Price Glossary of Bullion Terms Acid Test - A means to test the fineness of gold by using nitric acid and aqua regia. This testing will lose some small amount of gold.

Actual Gold Content - The amount of gold that exists in an object, that means all the alloys have been subtracted. Ag - The chemical symbol for silver. Allocated Account - A bank storage account held by dealers in clients' names, in which the clients have their precious metals physically segregated from other metal in the vault and are given detailed lists of the weights and assays of their precious metals. The client has full title to this precious metal. Metal in an allocated account does not form part of a precious metal dealer’s assets. This is as opposed to unallocated storage. Alloy - A mixture of two or more metals. Such as gold alloy which is mixed with other metals (copper, silver, nickel or zinc) to improve its hardness and change its color. Arbitrage - In order to profit from a difference in the price, the investors simultaneously purchase and sale a product. It is the practice of taking advantage of a price difference between two or more markets. Argentum - Latin name for the element silver. Ask Price - The current lowest price that the customer could buy. In fact, if a customer decides to buy it, he should pay higher than "ask price”. This price is as opposed to bid price.

Assay - A test to determine the purity and weight of a precious metal (such as gold or silver products). If a gold product delivers with an "assay", that means the product is guaranteed by the assayer that the product in question does indeed contain the described amount and purity of gold. Au - The chemical symbol for gold. Aurum - Latin name for the element gold. Aqua Regia - A mixture by mixing concentrated nitric acid and hydrochloric acid in a volume ratio of 1:3. It is commonly used in testing the fineness of gold. Backwardation - also called inverted market, is a situation in which prices for future deliveries are lower than price for a nearer delivery date, or spot price. It describes a downward sloping forward curve in a commodity market. Backwardation is the opposite of contango. Bar - A mass of metal cast or shaped into a convenient shape. It is a generic term for a bar of gold or silver and a non-numismatic form of precious metal bullion. Base Metal - commonly refers to all non-precious metals.

They are oxidize, tarnish or corrode relatively easily when exposed to moisture or air, such as Zinc, copper, nickel, aluminum, iron and lead. These metals are commonly used in alloying gold, silver and platinum. Bear Market - Describes a market condition, a prolonged period in which investment prices fall, along with widespread pessimism. It usually occurs when economy is in a recession and unemployment is high, or inflation is rising quickly. Opposite of bull market. Bid Price - The current highest price that the customer could sell. In fact, if a customer decides to sell, his selling price is closest to "bid price", rather than the "bid price”. This price is as opposed to ask price. Blank Planchet - A round metal disk that is ready to be struck as a coin. In other word, the round metal has not yet been struck with an obverse, reverse or edge design. BU - stands for brilliant uncirculated, describes a coin in a new condition. A BU coin means that the coin has never been circulated, and retains its original mint luster. Bull Market - Describes a market condition, a prolonged period in which investment prices are rising, or soon expected to rise.

It usually occurs as a result of an economic recovery, an economic boom, or investor psychology. Opposite of bear market. Bullion - traditionally stands for precious metals bars or ingots, such as gold bullion and silver bullion which are officially recognized as being at least 99.5% purity and are in the form of bars or ingots rather than coins. In the United States, the most commonly traded gold bullion pieces among individual investors weigh 10 oz. or less. Bullion Coin - a coin is made of precious metal and kept as an investment or a store of value. It is traded at a price close to its intrinsic or precious metal value, rather than its face value. Britannia Silver - An alloy of silver which contains 95.84% silver, with the balance usually copper. It should be distinguished from Britannia metal which is a pewter-like alloy containing no silver. Carat - a unit for mass which is used for measuring the weight of gemstones and pearls (1 carat is equal to 200mg). Distinguished from "karat" which is used for measuring the fineness of gold.

Cash Market - also called "spot market", is a public market in which financial instruments or commodities are traded for cash and for immediate delivery. In cash market, settlement happens in T+2 working days. Cash Price - also known as spot price, is a price quotation in a cash market, that means the commodities (such as gold and silver products) immediate or nearly immediate delivery. CU - The metallurgical symbol for copper. Contango - is a situation in which the futures price (or forward price) of a commodity is higher than the expected spot price. It describes an upward sloping curve for futures prices over time. Opposite of backwardation. Condition - The condition of a gold or silver bar, round, or coin. Common conditions are "New", "Varied", "Brilliant Uncirculated", "Proof", "Circulated", etc. Certified Coin - A coin authenticated and graded by a professional service. Cull coin - Coin in a exceedingly poor condition that is extremely worn or damaged. Generally, coin are graded as Basil State, Fair, or Poor by wear are considered Cull, "hole filler" or simply "filler" coins. Denomination - Properly describes a currency amount, usually for coins or banknotes.

For the coin, denomination is equivalent to its face value. Deliverable Bar - A precious metal (such as gold and silver) with a weight, fineness and hallmark that is approved as a tradable unit on a commodity exchange. Doré bullion - A impure alloy silver contains a variable but usually appreciable percentage of gold. Edge - The side of coin which may be reeded, lettered or plain. Electrum - A natural alloy of gold and silver, with trace amounts of copper and other metals. It can be produced artificially, and is often known as green gold. Face Value - The value of a investment coin (such as gold coins, or silver coins) which is printed on the coin by the minting authority. It is symbolic face value, rather than its actual worth. Fine Gold - Indicates the fineness or purity of a gold coin or gold bullion. It means the gold item is a pure gold, 24 karat, or .999 fine gold. Fine Silver - Indicates the fineness or purity of a silver coin or silver bullion. It means the silver item is a pure silver, 99.9% or higher pure.

Fineness - The degree purity of a precious metal usually expressed in parts per thousand. For example, American Gold Eagle is .9167 fineness, which means it contains 91.67% gold,and 8.33% other metals. Pure gold is expressed as .9999 or 9999, rather than 1.0000, or 100%. Fine Weight - The metallic weight of a coin, bar, or ingot, rather than the item's gross weight which contains the weight of the alloying metal. Such as a 1/10 oz Gold American Eagle, its fine weight (gold content) is 0.1 toz, and its gross weight is 0.10909 toz. Fine Ounce - A troy ounce of gold or silver which has a minimum fineness of .995 (99.5%). Forward transaction - An transaction agreement to purchase or sale for delivery and payment at an agreed date in the future. It is similar to a futures contract, except that forward transactions are not subject to the standardized procedures and regulations of a commodities futures exchange.

Futures Contract - Also called Futures, is a standardized contract (details the quality and quantity) to buy or sell a particular commodity or financial instrument at a pre-determined price in the future. Futures contracts are available for each month of the year. German Silver - A metal alloy of copper, nickel and zinc, sometime also containing tin and lead. It is named for its silvery appearance, rather than containing silver. GLR - stands for Gold Lease Rate, the interest on an unsecured gold loan. In fact, it is the derived rate. GLR is defined as: GLR = LIBOR - GOFO. GOFO - represents Gold Forward Offered Rates, is the interest you should pay if you swap gold for US$. It is a common transaction in London and published daily by LBMA. Good Delivery - The specification that a bar of precious metal must meet in order to be acceptable for delivery at a particular exchange. Gold/Silver ratio - a ratio of the gold price to the silver price . In other words, it measures how many ounces of silver it takes to buy an ounce of gold. Hallmark - Mark or marks which is struck on items made of precious metals.

Such as the mark on the gold bar indicates the producer, weight and its fineness or other characteristics. Karat - A unit of purity for gold alloys, rather than weight. The word "karat" is from the carob seed, which was used as balance scales to measure the weight of gold in ancient Asian bazaars. Pure gold is considered to be 24 karat . Karat Gold - A gold alloy mixed with other metals, such as silver, copper, or zinc. It is used in the manufacture of jewelry. The higher the karat, the higher the gold content in the item. In U.S., the gold jewelry must be at least 10 karat, otherwise it cannot be called gold. LIBOR or Libor - represents London Interbank Offered Rate, it is the average interest rate used in borrowing from other banks. It is more officially abbreviated to ICE LIBOR (for Intercontinental Exchange Libor). London Fixing price - A precious metal price which is fixed by the London Gold Market Fixing Ltd via conference call, which is used as a benchmark to pricing the major global precious metal products and derivatives.

The gold fixing price is fixed twice each business day at 10:30 am and 3 pm, and the silver price fixing is set or fixed once a day, at 12:00 am London local time. London gold or LOCO London - a way of gold trading . In a narrow sense, London gold is a traded product provided by the London International Financial Futures Exchange, and stored in the city of London underground vault in a purity of 99.5% with 400 ounces of gold bricks. Broadly speaking, London gold represents all of spot gold trading. Obverse - The front of a coin containing the principal design. The device on the obverse usually consists of a portrait and date. Pennyweight - An American unit of weight for gold which is equal to 1/20 of a troy ounce. Premium - The additional cost of a coin or bullion item, over and above the spot price of the precious metal contained in the item. The premium contains the costs of fabrication, distribution and a minimal dealer fee. Rare coins carry an additional premium called numismatic value.

Proof coin - A coin produced using highly polished dies and special plainchants that result in a sharpness of detail and a virtually flawless surface, usually mirror-like fields. It is created by striking the coin multiple times, using higher pressure, and polishing the dies. Proof coins are different with business coins. They are generally made for collectors rather than for normal use. Pure Gold - 24 karats gold or gold content is 99.99% in a gold item. Physical Market - A marketplace where the physical commodities are bought and sold for cash and delivered immediately. It is also called cash market or spot market, as opposed to the futures market. Precious Metal - A rare and high economic value metal. The commonly traded in coin form and used in the jewelry industry are gold, silver, palladium and platinum. PD - The chemical symbol for palladium. PT - The chemical symbol for platinum. Reeding - A technique wherein "reeds" are carved or milled into a surface. In numismatics, reeded edge is to prevent counterfeiting, and helps enable different coin denominations to be easily identified and distinguished from each other by sense of touch alone. Reverse - The back side of a coin.

The device on the reverse usually consists of a country's coat of arms or an insignia. Spot price - The current price at which precious metal is being traded at a specified time and place. It is calculated according to the most recent average bid price offered by the worldwide professional traders. Generally, the London spot price is used as the world barometer, after conversion from pounds to dollars. Spread - stands for “bid-ask spread” which is the difference between the bid price and the ask price. If you would like to sell gold, a broker will offer to buy it for the bid price. And if you would like to buy it, the broker will offer to sell it to you for the ask price. The spread is the broker's profit. The ask price is always higher than the bid price, because nobody would like to lose money in business. Troy Ounce - abbreviated as "oz t". Troy ounce is commonly used to measure the mass of precious metals, such as gold, silver.

1 troy ounce is equal to 31.1034768 grams, or 1/12 per troy pound (1 troy pound ≈ 373.24 grams, that is lighter than avoirdupois pound), distinguishing from avoirdupois ounce which equals to 28.3495231 grams. In modern times, the troy ounce is the only measurement unit of troy weights system is widespread used in the British Imperial and American. In fact, the gold fixing price is based on the unit of troy ounce. Unallocated Account - An account in which the client's precious metal are not separated from other metals that may be held by the bank. Since some banks do not charge for storage, unallocated account may be cheaper than an allocated account; however, the client carries higher counterparty risk. Uncirculated coin - A coin is released to the public but not intended for general circulation. However, it is available through a mint or through a local coin dealer. These type coins sometimes said to be "Brilliant Uncirculated or BU.

White Gold - An alloy of gold contains at least one white metal, such as silver, nickel or palladium. It is commonly used as a setting for diamond jewelry.

Question: Latin 'Aurum' refers to which precious commodity?
Answer: Gold