📖 Gold Trading Glossary
Essential terms and definitions for gold investors and traders.
Gold Premium
The difference between the local gold price and the international spot price (LBMA). A positive prem...
→Gold Discount
When local gold prices trade below the international benchmark (LBMA). Discounts often occur during ...
→LBMA Gold Price
The London Bullion Market Association gold price - the global benchmark for gold pricing, determined...
→CAGR (Compound Annual Growth Rate)
The mean annual growth rate of an investment over a specified period. CAGR smooths volatility to sho...
→Maximum Drawdown
The maximum observed loss from peak to trough before a new peak is achieved. Measures worst-case los...
→Z-Score
A statistical measure indicating how many standard deviations a value is from the mean. Used to iden...
→Percentile
A measure indicating the value below which a given percentage of observations fall....
→Gold ETF
An exchange-traded fund that tracks the price of gold by holding physical gold bullion....
→Central Bank Gold Reserves
Gold held by central banks as part of their foreign exchange reserves....
→Gold Supply
Total gold entering the market: mine production (~75%) + recycled gold (~25%). ~4,800 tonnes annuall...
→Mine Production
Gold extracted from mining operations. Global production is ~3,600-3,700 tonnes annually....
→Recycled Gold
Gold recovered from jewelry, electronics, and other end-use products. Provides 25-30% of annual supp...
→Gold Demand
Gold consumption: jewelry (40-50%), investment (25-35%), central banks (10-20%), technology (5-10%)....
→Jewelry Demand
Gold consumed in jewelry fabrication, representing 40-50% of total demand. India and China dominate....
→Gold Seasonality
Tendency of gold prices to follow recurring patterns during certain months. September and January hi...
→All-In Sustaining Cost (AISC)
Total cost to produce an ounce of gold. Global average is ~$1,200-1,400/oz....
→Shanghai Gold Exchange (SGE)
China's primary gold exchange, established in 2002. Sets domestic gold price....
→MCX Gold
India's leading commodity exchange for gold futures and spot trading....
→Gold Fix
The twice-daily price setting, now replaced by the LBMA Gold Price electronic auction....
→Spot Price
The current market price for immediate delivery of gold. Basis for all gold pricing....
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