GLOSSARY

Maangtika

A unique and traditional Indian jewellery item worn on the forehead. It is quite often worn by brides and is made of a hanging ornament on one end and a hairpin on the other. The pin is attached to the hair, and the ornament dangles on the forehead or at the hairline of the woman.

Making Charge

Making charge is the cost of the entire process of producing and designing the gold jewellery and is charged in addition to the metal value and taxes.

Malleability

The special property of a metal that makes it conducive to being bent and twisted into any shape without breaking or the appearance of cracks in it is known as malleability.

Mangalsutra

A mangalsutra is a special necklace that a groom ties around the bride's neck in traditional marriages. It is derived from the Sanskrit word 'mangala', meaning 'holy, auspicious', and 'sutra', meaning 'thread'.

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.

Market Value

Market value is the price for which anything can be sold on the open market. It is the highest price that a buyer may be willing to pay.

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.

Meenakari Jewellery

Meenakari is a Persian form of jewellery-making which involves colouring the surface of metal through the infusion of various bright colours.  Mina is the feminine form of “Minoo” in Persian, meaning heaven, and is reminiscent of the beautiful colours of heaven. 

Melt Value

Melt Value is the value of a coin based on the quantity of its constituent metals. It refers to the value of the precious metal that can be attained by melting the coin. For gold coins, it is the value of gold in the coin.

Metric ton

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

Mexican 50 Peso

Mexican 50 Peso is the official gold coin of the Mexican mint and is considered amongst the largest bullion coins minted for currency. Each coin contains 37.5 grams (1.2057 oz) of gold in an alloy of 90% gold and 10% copper (21.6 karat). These are popularly referred to as Centenario and were first minted in 1921 to commemorate Mexico's 100th independence anniversary. Its obverse side contains the image of Winged Victory

Mint mark

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

Minting

It is the production or manufacturing of currency or gold coins at a very large scale. A mint is a factory that manufactures currency in the form of coins, medals and other metal objects.

Mohan Maala

Mohan maala is a traditional Maharashtrian neckpiece consisting of a long, beaded gold necklace having many layers of gold bead strings.