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Troy weight
(redirected from troy ounce)

   Also found in: Dictionary/thesaurus, Encyclopedia, Wikipedia, Hutchinson 0.03 sec.

TROY WEIGHT. A weight less ponderous than the avoirdupois weight, in the proportion of seven thousand, for the latter, to five thousand seven hundred and sixty, to the former. Dane's Ab. Index, h.t. Vide Weights.



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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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