[Webfunds-users] AUG = XAU/31.103

Sat, 03 Feb 2001 13:40:07 -0000

--On 02 February 2001 10:18 -0800 Charles Evans <cwe@chyden.net> wrote:

> Ian Grigg <iang@systemics.com> wrote:
>
>> The form of AUG is not listed by the ISO
>> AFAIK, but, XAG is.  However, there is some
>> dispute as to what XAG means ... grams,
>> ounces, kilos, bars?  AUG means grams of gold.
>
> XAG - ounce (troy) of silver
> XAU - ounce (troy) of gold
> XPD - ounce (troy) of palladium
> XPT - ounce (troy) of platinum

Just to be pedantic (who, me?!)

I think the use of XAG as meaning 1 troy oz is an accepted convention, 
rather than a recognised standard. I went as far as buying a copy of the 
ISO 4217 standard to clarify this very point, and it does not actually 
define a unit of measure for XAU, XAG, etc. I can check the actual wording 
on Monday if anyone wants to know what it says, but from memory, it just 
says that XAU represents gold.

Whereas for GBP, USD, the ISO spec does define the unit and the number of 
decimal places as well as the TLA.

But if anyone knows of another standard where the unit of troy oz is 
stated, please tell me, I've been curious about this for a while now.

Racheel