GLOSSARY

Market risk

Refers to the risk of the gold prices dropping due to changes in economic variants. However, in India, this risk is the least in terms of gold, since gold prices have generally shown a rising trend.

MCX

The Multi Commodity Exchange of India Limited (MCX) is India’s first listed exchange for commodity futures. MCX facilitates online trading, clearing, and settlement of commodity futures transactions. It offers trading in numerous commodity futures contracts, which include gold, ferrous and non-ferrous metals, energy, and agricultural commodities.

Medallion

It is a round piece of metal that closely resembles a coin.

Metric ton

It is a measurement tool, which translates to 1,000 kilograms or 32,151 troy ounces.

Mint mark

Refers to a letter or symbol, which is stamped on a coin in order to recognise its minting facility.