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troy ounce

   Also found in: Dictionary/thesaurus, Legal, Wikipedia, Hutchinson 0.02 sec.
troy ounce [′trȯi ′au̇ns]
(mechanics)


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80 per troy ounce in intraday trading before slipping back to settle at $499.
The terms of the purchase agreement include an acquisition price of $5 million - $1 million paid upon closing and $1 million paid over four successive six-month periods - and a net smelter royalty which operates on sliding scale beginning at $300 US per troy ounce of gold.
Looking into the future, Mundell predicts that the value of gold -- the only commodity still held as a reserve asset by central banks -- is likely to rise from around $270 a troy ounce today to approximately $500 an ounce over the next decade.
 
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