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Gold is back in the news again. It seems that gold
is still priced in US dollars per troy ounce. If there ever is a move to
sell gold by the euro, would that change also involve a switch to the
kilogram? Is it US dollar pricing that is keeping the gold unit in troy
ounces?
Another thing that comes to my attention is the difference
between the troy ounce and the common ounce. How many ordinary people know
there is a difference? How many just assume that an ounce is an
ounce? More often then not, the clarifiers are not applied to show a
distinction. Even when they are do people understand that there is a
difference?
If I'm not mistaken, despite the price being per ounce,
the actual weighing is done in grams and kilograms. Is this a correct
assessment?
Euric
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