📖 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...

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Gold Discount

When local gold prices trade below the international benchmark (LBMA). Discounts often occur during ...

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LBMA Gold Price

The London Bullion Market Association gold price - the global benchmark for gold pricing, determined...

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CAGR (Compound Annual Growth Rate)

The mean annual growth rate of an investment over a specified period. CAGR smooths volatility to sho...

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Maximum Drawdown

The maximum observed loss from peak to trough before a new peak is achieved. Measures worst-case los...

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Z-Score

A statistical measure indicating how many standard deviations a value is from the mean. Used to iden...

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Percentile

A measure indicating the value below which a given percentage of observations fall....

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Gold ETF

An exchange-traded fund that tracks the price of gold by holding physical gold bullion....

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Central Bank Gold Reserves

Gold held by central banks as part of their foreign exchange reserves....

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Gold Supply

Total gold entering the market: mine production (~75%) + recycled gold (~25%). ~4,800 tonnes annuall...

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Mine Production

Gold extracted from mining operations. Global production is ~3,600-3,700 tonnes annually....

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Recycled Gold

Gold recovered from jewelry, electronics, and other end-use products. Provides 25-30% of annual supp...

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Gold Demand

Gold consumption: jewelry (40-50%), investment (25-35%), central banks (10-20%), technology (5-10%)....

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Jewelry Demand

Gold consumed in jewelry fabrication, representing 40-50% of total demand. India and China dominate....

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Gold Seasonality

Tendency of gold prices to follow recurring patterns during certain months. September and January hi...

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All-In Sustaining Cost (AISC)

Total cost to produce an ounce of gold. Global average is ~$1,200-1,400/oz....

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Shanghai Gold Exchange (SGE)

China's primary gold exchange, established in 2002. Sets domestic gold price....

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MCX Gold

India's leading commodity exchange for gold futures and spot trading....

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Gold Fix

The twice-daily price setting, now replaced by the LBMA Gold Price electronic auction....

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Spot Price

The current market price for immediate delivery of gold. Basis for all gold pricing....

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