gold
(Trading symbol GC) - A precious metal traded on the spot and futures market. On NYMEX a contract unit of gold equals 100 troy ounces. One tick in the price of gold is $.10 per troy ounce, or $10 per contract. There are exceptions, but in general, the exchange will call a halt to trading if the price of gold fluctuates more than $75 per troy ounce ($7500 per contract) above or below the previous day's Closing Price. maximum daily price fluctuations are lifted during the final 20 minutes of the trading day. See minimum price movement.
Browse by Subjects
Soft commodity
fall
gold reserves
fiat currency
Commodities Exchange Inc. (COMEX)
See All Related Terms »

Easy Monetary Policy
function
European option
short cover
writing down allowance