Alloy: A combination of two or metals together to form a higher strength alloy. Gold is sometimes alloyed with palladium. The palladium strengthens the dominant metal gold, and also gives it the “white gold” appearance.
Arbitrage: The simultaneous buying and selling of price differentials in the commodities markets.
Ask: The price at which a commodities firm will sell a commodity.
Assay: A test to determine the weight and purity of a precious metal.
AU: Gold`s chemical symbol.
Avoirdupois: A system of weights based on a 16 oz. pound. One avoirdupois ounce is the equivalent of 28.35 grams or 1/16 of an ounce.