Ashoka Global

Gold is the oldest precious metal known to man and for thousands of years it has been valued as a global currency, a commodity, an investment and simply an object of beauty.

Major Characteristics
  • Gold (Chemical Symbol-Au) is primarily a monetary asset and partly a commodity.
  • Gold is the world’s oldest international currency.
  • Gold is an important element of global monetary reserves.
  • With regards to investment value, more than two-thirds of gold’s total accumulated holdings is with central banks’ reserves, private players, and held in the form of high-karat jewellery.
  • Less than one-third of gold’s total accumulated holdings are used as “commodity” for jewellery in the western markets and industry.
Global Scenario
  • London is the world’s biggest clearinghouse.
  • New York is the home of gold futures trading.
  • Zurich is a physical turntable.
  • Istanbul, Dubai and Hong Kong are doorways to important consuming regions.
  • Tokyo, where TOCOM sets the mood of Japan.
Factors Influencing the Market
  • Above ground supply of gold from central bank’s sale, reclaimed scrap, and official gold loans.
  • Hedging interest of producers/miners.
  • World macroeconomic factors such as the US Dollar and interest rate, and economic events.
  • Commodity-specific events such as the construction of new production facilities or processes, unexpected mine or plant closures, or industry restructuring, all affect metal prices.
  • In Singapore, gold demand is also determined to a large extent by its price level and volatility.
Measurement Weight Conversion Table
Convert fromConvert ToMultiply by
Troy ouncesGrams31.1035
Million ouncesTonnes31.1035
GramsTroy ounces0.0321507
KilogramsTroy ounces32.1507
TonnesTroy ounces32,150.70
Troy ouncesGrains480.00
Troy ouncesAvoirdupois ounces1.09714
Troy ouncesPenny weights20.00
Avoirdupois ouncesTroy ounces0.911458
Short tonneMetric tonne0.9072
  • Gold purity is measured in terms of karat and fineness:
  • Karat: pure gold is defined as 24 karat
  • Fineness: parts per thousand Thus, 18 karat = 18/24 of 1,000 parts = 750 fineness