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 dollar demand for gold spiked to more than $1,000 per troy ounce
in the first quarter of 2008, representing a 20 percent increase over that time last year and more than double the level of four years earlier, according to the London-based World Gold Council.
Today's reprieve means that pints and miles - and the Troy ounce
for weighing gold bullion (one Troy ounce
Prices are currently at almost $14 per troy ounce
(see related article, page 22).
80 per troy ounce
in intraday trading before slipping back to settle at $499.
10 a troy ounce
at one point in London on Thursday, setting its highest level in 16 and a half years for the second straight day, amid the continued slide of the U.
The Nevada Mining Association celebrated Nevada Mining Week, April 15 to 21, 2002, by announcing production of the 50 millionth troy ounce
of gold mined on the Carlin Trend, making the Trend only the third location in the world to achieve that milestone.
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
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 drop resulted from a slump in world gold prices -- Nicaraguan gold slid from US$392 per troy ounce
in 1996 to US$313 in 1997, the lowest price in 12 years: .
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 raced to $1,733 a troy ounce
on August 8 as the U.