There are different units of measurement in different situations. The more common one is the troy ounce, which is different from the common ounce. The ounce is the daily measurement unit used by the United States. It is used specifically as a trading unit of measure for precious metals. Tola is a special unit of measurement for gold transactions, mainly used in the gold market, such as New Delhi, Karachi and Mumbai in South Asia. 1 tola = 0.375 troy ounce = 11.6638 grams.
Extended information:
Gold is the elemental form of the chemical element gold (Au). It is a soft, golden, corrosion-resistant precious metal. Gold is one of the rarer, more precious and highly valued metals. Internationally, gold is generally measured in ounces. In ancient China, "liang" was used as the unit of gold. It is a very important metal. It is not only a special currency used for reserves and investments, but also an important material in the jewelry industry, electronics industry, modern communications, aerospace and aviation industries and other sectors.
First of all, gold investment is mainly divided into physical gold, gold T+D, paper gold, spot gold, international spot gold (commonly known as London gold), futures gold, gold advance payment, and people's livelihood gold. These 8 types are compared Popular form of gold investment.
Physical gold involves buying and selling gold in physical items such as gold bars and gold jewelry. Physical gold: In the form of 1:1, that is, how much gold is purchased for how much currency to maintain its value. You can only buy up, not down, the investment amount is large, and the procedures and fees are complicated. The difficulty lies in distinguishing the true from the false and the quality.
Gold T+D: The leverage ratio is 1:5. The transaction is divided into three time periods, two-way buying and selling, and uses a matching transaction with no spread. The disadvantage is that the transaction is inactive and premiums are generated. You can choose a bank. The advantage is that the bank provides it, but the disadvantage is that the bank fees are ridiculously high.
Paper gold: Paper gold is a unique business of China Construction Bank, Industrial and Construction Bank. Paper gold is a paper transaction of gold. The investor's purchase and sale transaction records are only reflected in the "gold passbook account" opened in advance by the individual and does not involve the withdrawal of physical gold. The profit model is to obtain price difference profits by buying low and selling high. Paper gold is actually profiting from speculative trading rather than physical investment in gold. The advantage is that banks provide it, but the disadvantage is that there is no leverage and the fee is too high
Spot gold: The domestic handling fee standard is about 7/10,000, and 24-hour uninterrupted trading is adopted. The time and price are in line with the international gold price market. T +0 trading mode, two-way operation can buy up and down, the leverage ratio is relatively low at 1:12.5, it is the only domestic investment product that adopts the market maker system, and physical gold can be withdrawn.