Tag: gold

CAD definition explanation

What is CAD?
What currency is CAD?
CAD is the currency abbreviation or currency symbol for the Canadian dollar (CAD). The Canadian dollar is made up of 100 cents, and is often presented with the dollar sign as C$ to allow it to be distinguished from other currencies denominated in dollars, such as the U.S. Dollar (USD). CAD is considered to be a benchmark currency, meaning that many central banks across the globe keep Canadian dollars as a reserve currency. Read more for examples and further explanation including related video clips and also comments
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New York Mercantile Exchange – NYMEX definition explanation

What is New York Mercantile Exchange – NYMEX?
The world’s largest physical commodity futures exchange. Trading is conducted through two divisions: the NYMEX Division, which is home to the energy, platinum and palladium markets, and the COMEX Division, where metals like gold, silver and copper and the FTSE 100 index options are traded. The NYMEX uses an outcry trading system during the day and an electronic trading system after hours.

You’ll hear the NYMEX referred to as “”The Merc””. Read more for examples and further explanation including related video clips and also comments
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VEB (Venezuelan Bolivar) definition explanation

What is VEB (Venezuelan Bolivar)?
The currency abbreviation for the Venezuelan bolivar (VEB), the currency for Venezuela from 1879 to January 2008. The Venezuelan bolivar was made up of 100 céntimos and was presented with the symbol Bs. The Venezuelan bolivar was replaced with the bolivar fuerte (VEF) at a rate of 1000:1 because the bolivar was so devalued due to inflation. Bolivar fuerte is translated in English as “”strong bolivar.”” Read more for examples and further explanation including related video clips and also comments
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Silver ETF definition explanation

What is Silver ETF?
An exchange-traded fund that invests primarily in raw silver assets, which are held in trust by the fund manager and/or custodian. Typically, silver ETFs are established as grantor trusts, where each share of the ETF represents the specific right to a precise amount of silver, measured in ounces.

Silver ETFs aim to track as closely as possible the spot price of silver on the open market.
The first to market was the iShares Silver Trust, managed by Barclays Global Investors and introduced in 2006. Read more for examples and further explanation including related video clips and also comments
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Bank Restriction Act of 1797 definition explanation

What is Bank Restriction Act of 1797?
An act passed by the British government in 1797 to free the central Bank of England from converting bank notes and other financial claims into gold. The act was created in response to the flood of paper money issued by the British government that resulted in an economic catastrophe. Read more for examples and further explanation including related video clips and also comments
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Banknote definition explanation

What is Banknote?
A negotiable promissory note issued by a bank and payable to the bearer on demand. The amount payable is stated on the face of the note. Banknotes are considered legal tender, and, along with coins, make up the bearer forms of all modern money.

Also known as a “”bill”” or a “”note.”” Read more for examples and further explanation including related video clips and also comments
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National Commodities And Derivatives Exchange – NCDEX definition explanation

What is National Commodities And Derivatives Exchange – NCDEX?
India’s largest and most recognized commodities exchange, which was established in 2003. The exchange was founded by some of India’s leading financial institutions such as ICICI Bank Limited, the National Stock Exchange of India and the National Bank for Agricultural and Rural Development, among others. Read more for examples and further explanation including related video clips and also comments
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USD (United States Dollar) definition explanation

What is USD (United States Dollar)?
The currency abbreviation for the United States dollar (USD), the currency for the United States of America. The United States dollar, or U.S. dollar, is made up of 100 cents and is presented with the symbol $ or US$ to differentiate it from other dollar-based currencies. The U.S. dollar is considered a benchmark currency, and is the currency used the most in transactions across the world. The currency is actually used as an official currency in many countries outside of the U.S., while many others use it alongside their own as an unofficial currency. Read more for examples and further explanation including related video clips and also comments
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