troy ounce


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troy ounce

[′trȯi ′au̇ns]
(mechanics)
McGraw-Hill Dictionary of Scientific & Technical Terms, 6E, Copyright © 2003 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
The gold price made $1,309.90 per troy ounce on 29 July 2014; $1,310.80 per ounce - on June 26; $ 1,292.4 - on May 26; $1,287.2 - on April 22; $1,312.7 - on March 26; and $1,339.9 per troy ounce - on February 26.
The troy ounce units of gold will be held in the customer's account and they will have a claim on the bank against the value of these ounces just like any other currency that is kept with the bank.
The price has since gone down to around $900 per troy ounce, which has stimulated investors.
Many players are also fleeing the dollar for gold, which rose above the psychologically important line of $450 a troy ounce in London on Thursday.
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.
The 1979-80 silver mania orchestrated by the Hunt brothers carried gold, briefly, to $800 per Troy ounce; the correction of NASDAQ has pulled the Dow down with it--but that's a temporary situation.
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.
This achievement was matched by the welcome news that gold prices have rallied from their seven-year low of $327 per troy ounce back in October 1991 to the current price of about $380 per troy ounce.
Gold Futures for August delivery was down 0.14 percent or 2.00 to $1426.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 0.09 percent or 0.05 to hit $55.25 a barrel, while the September Brent oil contract rose 0.24 percent or 0.15 to trade at $62.08 a barrel.
Gold metal price accelerated to $1,318.33 per troy ounce from $1,238.46 per troy ounce year-on-year.
On October 21, Head of the State Tax Service Iskhak Masaliev said Kyrgyzstan had lost 1 billion som of taxes as the price on gold fell to $1,300 per troy ounce.