troy ounce

troy ounce definition - finance
A unit of weight used for precious metals, specifically for gold and silver. A troy ounce is equal to about 1.1 avoirdupois ounces, 480 grains, or 31.04 grams. The term is believed to be named after a weight used at the annual fair held at Troyes, France during the Middle Ages.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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