Noun(1) a system of weights used for precious metals and gemstones; based on a 12-ounce pound and an ounce of 480 grains(2) an ancient city in Asia Minor that was the site of the Trojan War(3) a system of weights used for precious metals and gemstones(4) based on a 12-ounce pound and an ounce of 480 grains
Noun(1) a system of weights used for precious metals and gemstones; based on a 12-ounce pound and an ounce of 480 grains(2) an ancient city in Asia Minor that was the site of the Trojan War(3) a system of weights used for precious metals and gemstones(4) based on a 12-ounce pound and an ounce of 480 grains
(1) gold closed at $332.5 a troy ounce(2) My personal estimate is that this might price monetary-reserve gold at somewhere between US $800 and US $1,000 a troy ounce; I may be underestimating the price, but the estimate illustrates the point.(3) The troy and apothecary systems have pounds that are only 5,250 grains.(4) Gold had a glittering year, up nearly 6% to $452.85 a troy ounce at the end of November, as investors frightened by the dollar's slide scrambled to secure this so-called safe haven.(5) They are shares that move in line with the gold price; a share is equivalent to a tenth of a troy ounce of gold.(6) pounds troy(7) One troy pound weighs 373.25 g and is subdivided into troy ounces, pennyweight and grains (gr, 24 in a pennyweight).
