GAMMA

Measured change in an option’s DELTA. The first derivative of DELTA, or rate of change.

GOLD LOAN

A means of raising capital for project financing that involves monetizing gold.

GOLD/SILVER PRICE RATIO

The relative price between gold and silver; a ratio on which speculators are known to trade.

GOLD STANDARD

A monetary system in which paper currency is bearer notes payable on demand for a certain quantity of gold. The ratio of total bearer notes to actual gold in national treasury may not necessarily be one-to-one. In the US and Britain this imbalance brought about the eventual demise of the gold standard.

GOOD DELIVERY

An industry standard of quality indicating that a gold bar is of a minimum quality as defined by the London Bullion Market Association. To meet these requirements, a bar must contain 350-430 troy ounces of 995 purity (parts per 1,000) gold. It also must bear the stamp of a recognized refinery. A list covering all the current refiners with good delivery status is available for the LBMA.