Commodity glossary T
- Traditional Chinese unit of weight for gold. 1 tael = 1.20337 troy ounces = 37.4290 grams. The nominal fineness of a Hong Kong tael bar is 990 but in Taiwan 5 and 10 tael bars can be 999.9 fine.
- Fine grained remains of ore once most of the valuable material has been removed in the concentration process.
- In options, the rate of change in the value of the option with respect to time with all else remaining the same.
- Refers to options. The difference between an option’s market price and its intrinsic value.
- The Tokyo Commodity Exchange, established in 1984.
- Traditional Indian unit of weight for gold. One tola = 0.375 troy ounces = 11.6638 grams. The most popular sized bar is 10 tola = 3.75 troy ounces.
- Refers to the time period commencing one business day forward from the present and ending one business day later (usually spot). In bullion, generally refers to the swap rate for borrowing or lending metal vs. US$ for this time period, which is typically used to manage short-term liquidity flows.
- The traditional unit of weight used for precious metals which was attributed to a weight used in Troyes, France, in medieval times. One troy ounce is equal to 1.0971428 ounces avoirdupois.
- Tokyo Stock Exchange