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On 21 January 1980 the gold fixing reached the price of $850, a figure not surpassed until 3 January 2008 when a new record of $865.35 per troy ounce was set in the a.m. fixing. However, when indexed for inflation, the 1980 high corresponds to a price of $2,305.18 in 2011 dollars, [ 3 ] thus the 1980 record still holds in real terms .
May 20 marked an all-time high price for gold, at a spot price of $2,435.96 per ounce. Gold futures were higher at $2,438.50. Spot silver also rose to $32.17, an over 11-year high.
For example, if one owns a share in a gold mine where the costs of production are US$300 per troy ounce ($9.6 per gram) and the price of gold is $600 per troy ounce ($19/g), the mine's profit margin will be $300. A 10% increase in the gold price to $660 per troy ounce ($21/g) will push that margin up to $360, which represents a 20% increase in ...
In 2013 the unit price paid for pure silver was up six cents to $4.12 (incl gold $4.65) while the realized price was down 717 cents to $23.86 (incl gold $23.58). In 2011 though the unit price paid per silver equivalent ounce was only five cents higher at $4.09 it sold each ounce for 67.6% more, in 2010 it was 36.6% more.
Central banks typically hold the standard 400-troy-ounce (438.9-ounce; 27.4-pound; 12.4-kilogram) Good Delivery gold bar in their gold reserves and it is widely traded among bullion dealers. Additionally, the kilobar, weighing 1,000 grams (32.15 troy ounces), and the 100-troy-ounce (109.7-ounce; 6.9-pound; 3.1-kilogram) gold bar are popular for ...
The only troy weight in widespread use is the British Imperial troy ounce and its American counterpart. Both are based on a grain of 0.06479891 gram (exact, by definition), with 480 grains to a troy ounce (compared with 437 + 1 ⁄ 2 grains for an ounce avoirdupois). The British Empire abolished the 12-ounce troy pound in the 19th century.
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