Wednesday 15 June 2011
Knowledge Sharing @TIMESGold2020 - Chapter 7. Metal Densities and Characteristics
Aluminum
Chromium
Copper
Zinc
 |
Nickel |
Knowledge Sharing @TIMESGold2020 - Chapter 6. Gold and Silver Calculation, Conversion and Specifications
CALCULATING THE WEIGHT OF “FINE GOLD”
Gold are normally traded according to the precise weight of their fine gold content. It is calculated by multiplying the bar’s gross weight by its gold purity (or fineness).
Examples
1000 g bar with a millesimal purity of 995 has a fine gold weight of 995 g (1000 g x 0.995).
London Good Delivery bar weighing 401.125 oz bar with a millesimal purity of 995.8 has a fine gold weight of 399.440 oz (401.125 oz x 0.9958).
CONVERSION
Umar Al Khatab
1 Dinar = 4.25g = 916.6 = 22k
1 Dirham = 3 g perak= 999
10 dirhams = 7 dinars (mithqals)
International
1 g = 0.0321507465 troy oz
1kg = 32.1507465 troy oz
1 tonne = 32,150.70 troy oz
1 troy oz = 31.1034768 g
SPECIFICATIONS
Gold are normally traded according to the precise weight of their fine gold content. It is calculated by multiplying the bar’s gross weight by its gold purity (or fineness).
Examples
1000 g bar with a millesimal purity of 995 has a fine gold weight of 995 g (1000 g x 0.995).
London Good Delivery bar weighing 401.125 oz bar with a millesimal purity of 995.8 has a fine gold weight of 399.440 oz (401.125 oz x 0.9958).
CONVERSION
Umar Al Khatab
1 Dinar = 4.25g = 916.6 = 22k
1 Dirham = 3 g perak= 999
10 dirhams = 7 dinars (mithqals)
International
1 g = 0.0321507465 troy oz
1kg = 32.1507465 troy oz
1 tonne = 32,150.70 troy oz
1 troy oz = 31.1034768 g
SPECIFICATIONS
Knowledge Sharing @TIMESGold2020 - Chapter 3. GOLD ASSOCIATIONS, EXCHANGES, ACCREDITION AND ASSAYING
GOLD ASSOCIATIONS AND EXCHANGES
The gold industry relies greatly on refiners whose gold bars are accepted by associations and exchanges as “good delivery” for the settlement of transactions. The reason for this is that each association and exchange normally requires the specified good delivery bars, and the refiners operating from approved refineries, to meet a broad range of criteria. The procedure also generates confidence in the relevant market that an accredited refiner’s range of other gold bars and products would also be manufactured to the same high standard.
LONDON BULLION MARKET ASSOCIATION (LBMA) www.lbma.org.uk
NEW YORK MERCANTILE EXCHANGE (NYMEX), COMEX DIVISION www.nymex.com
BRAZILIAN MERCANTILE & FUTURES EXCHANGE, SAO PAULO (BM&F) www.bmf.com.br
DUBAI MULTI COMMODITIES CENTRE (DMCC) www.dmcc.ae
ISTANBUL GOLD EXCHANGE (IGE) www.iab.gov.tr
MULTI COMMODITY EXCHANGE OF INDIA LTD, MUMBAI (MCX) www.mcxindia.com
TOKYO COMMODITY EXCHANGE (TOCOM) www.tocom.or.jp
SHANGHAI GOLD EXCHANGE (SGE) www.sge.com.cn
SHANGHAI FUTURES EXCHANGE (SHFE) www.shfe.com.cn
THE CHINESE GOLD & SILVER EXCHANGE SOCIETY, HONG KONG (CGSE) www.cgse.com.hk
GOLD ACCREDITION
ACCREDITED REFINERS OFFICIAL STAMPS AND CERTIFICATION MARKS
A S S AY I N G O F G O L D
A vital part of working with precious metals has to be the ability to determine accurately the composition of materials. In the manufacture of gold jewellery products it is essential to know the exact composition to ensure conformity with carat gold standards and to avoid “giving away” precious metal for which a customer is not paying. Accurate analysis of gold has been conducted for centuries by the use of the fire assay technique. It is universally used and has been the basis for gold analysis as long as analytical techniques have been practised and is specified by the International Standards Organisation as the referee method for the determination of the fineness of carat gold jewellery alloys
The gold industry relies greatly on refiners whose gold bars are accepted by associations and exchanges as “good delivery” for the settlement of transactions. The reason for this is that each association and exchange normally requires the specified good delivery bars, and the refiners operating from approved refineries, to meet a broad range of criteria. The procedure also generates confidence in the relevant market that an accredited refiner’s range of other gold bars and products would also be manufactured to the same high standard.
LONDON BULLION MARKET ASSOCIATION (LBMA) www.lbma.org.uk
NEW YORK MERCANTILE EXCHANGE (NYMEX), COMEX DIVISION www.nymex.com
BRAZILIAN MERCANTILE & FUTURES EXCHANGE, SAO PAULO (BM&F) www.bmf.com.br
DUBAI MULTI COMMODITIES CENTRE (DMCC) www.dmcc.ae
ISTANBUL GOLD EXCHANGE (IGE) www.iab.gov.tr
MULTI COMMODITY EXCHANGE OF INDIA LTD, MUMBAI (MCX) www.mcxindia.com
TOKYO COMMODITY EXCHANGE (TOCOM) www.tocom.or.jp
SHANGHAI GOLD EXCHANGE (SGE) www.sge.com.cn
SHANGHAI FUTURES EXCHANGE (SHFE) www.shfe.com.cn
THE CHINESE GOLD & SILVER EXCHANGE SOCIETY, HONG KONG (CGSE) www.cgse.com.hk
GOLD ACCREDITION
ACCREDITED REFINERS OFFICIAL STAMPS AND CERTIFICATION MARKS
A S S AY I N G O F G O L D
A vital part of working with precious metals has to be the ability to determine accurately the composition of materials. In the manufacture of gold jewellery products it is essential to know the exact composition to ensure conformity with carat gold standards and to avoid “giving away” precious metal for which a customer is not paying. Accurate analysis of gold has been conducted for centuries by the use of the fire assay technique. It is universally used and has been the basis for gold analysis as long as analytical techniques have been practised and is specified by the International Standards Organisation as the referee method for the determination of the fineness of carat gold jewellery alloys
Knowledge Sharing @TIMESGold2020 - Chapter 2. THE VALUE OF GOLD TO SOCIETY
Source: World Gold Council
Gold has been highly valued for thousands of years and is as popular now as it has ever been; as jewellery, as a financial asset and as an industrial product. However the social value that the gold industry adds to societies around the world, especially in poorer countries, is less understood and often misrepresented.
Gold’s value to consumers and investors in developing countries
In much of Asia, the Middle East, and the Indian subcontinent, gold is the best possible protection against upheaval, both political and economic. For men and women throughout the developing world, gold is still one of the most liquid and widely accepted forms of exchange, quite simply the most efficient store of value they possess. Around two thirds of the jewellery purchased in the Middle East and Asia is used as a means of saving in addition to its function as an adornment. The use of jewellery as savings is often important in rural areas where access to a reliable and appropriate banking system is difficult or impossible. Gold also offers protection against a weak currency or high domestic inflation levels, which are prevalent and persistent problems in the developing world.
Gold as a preserver of value (inflation hedge, safe haven, etc.)
Gold is an effective hedge against inflation. In addition, gold is inversely correlated to the US dollar, making it a good currency hedge. As an asset class, gold has all the advantages of being universally regarded as a currency, without what are all too often the disadvantages of being subject to the economic and monetary policies of one particular country’s government.
Gold’s value as an effective portfolio diversifier
Gold is a highly effective portfolio diversifier due to its low to negative correlation with all major asset classes. Over the last 20 years, gold has shown no statistically significant correlation with equities.That applies not just to domestic US equities, but also to international equities, including those traded in London, Tokyo, Frankfurt, and so on.
Gold’s value as a currency reserve
Gold is still considered an important reserve asset by most central banks, even though it is no longer the centre of the international financial system. The most important reason is that gold is the only reserve asset that is no-one’s liability. This means that, unlike a currency, the value of gold cannot be affected by the economic policies of the issuing country or undermined by inflation in that country.
Gold has been highly valued for thousands of years and is as popular now as it has ever been; as jewellery, as a financial asset and as an industrial product. However the social value that the gold industry adds to societies around the world, especially in poorer countries, is less understood and often misrepresented.
Gold’s value to consumers and investors in developing countries
In much of Asia, the Middle East, and the Indian subcontinent, gold is the best possible protection against upheaval, both political and economic. For men and women throughout the developing world, gold is still one of the most liquid and widely accepted forms of exchange, quite simply the most efficient store of value they possess. Around two thirds of the jewellery purchased in the Middle East and Asia is used as a means of saving in addition to its function as an adornment. The use of jewellery as savings is often important in rural areas where access to a reliable and appropriate banking system is difficult or impossible. Gold also offers protection against a weak currency or high domestic inflation levels, which are prevalent and persistent problems in the developing world.
Gold as a preserver of value (inflation hedge, safe haven, etc.)
Gold is an effective hedge against inflation. In addition, gold is inversely correlated to the US dollar, making it a good currency hedge. As an asset class, gold has all the advantages of being universally regarded as a currency, without what are all too often the disadvantages of being subject to the economic and monetary policies of one particular country’s government.
Gold’s value as an effective portfolio diversifier
Gold is a highly effective portfolio diversifier due to its low to negative correlation with all major asset classes. Over the last 20 years, gold has shown no statistically significant correlation with equities.That applies not just to domestic US equities, but also to international equities, including those traded in London, Tokyo, Frankfurt, and so on.
Gold’s value as a currency reserve
Gold is still considered an important reserve asset by most central banks, even though it is no longer the centre of the international financial system. The most important reason is that gold is the only reserve asset that is no-one’s liability. This means that, unlike a currency, the value of gold cannot be affected by the economic policies of the issuing country or undermined by inflation in that country.
Subscribe to:
Posts (Atom)