Gold-leaf financial definition of gold-leaf
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A particularly valuable precious metal. Gold is an element with the atomic number 79. It is used for jewelry, electronics and for other purposes. Historically, gold was used in many cultures as the basis for currency, but this is no longer the case. Investments in gold are often used as a hedge against inflation because it tends to maintain its value over time.
a mineral that is used both as an industrial base metal and for ornamental purposes, and is held by governments as part of their stock of INTERNATIONAL RESERVE assets in order to finance balance of payments deficits. Formerly, in the UK and many other countries, gold coins formed the basis of the domestic MONEY SUPPLY, but gold has now been replaced by banknotes and brass and nickel coins as the cash component of the money supply. See BULLION MARKET, WORLD GOLD COUNCIL.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O'Reilly and M Afferson
a monetary ASSET that is held by countries as part of their INTERNATIONAL RESERVES and used to finance BALANCE OF PAYMENTS deficits.
Formerly, many countries operated a GOLD STANDARD system under which gold was used as the basis of a country's domestic MONEY SUPPLY as well as being used to finance payments deficits. Gradually, however, the 'pure' gold standard gave way to domestic monetary systems based on paper money and other metallic coins and, internationally, the gold-exchange standard in which foreign currencies such as sterling and the American dollar were used alongside gold as reserve assets.
In 1935 the price of gold was 'fixed' at $35 per fine ounce by the USA, Britain and France as part of a monetary pact between the three countries. This price was then 'officially' adopted by member countries of the INTERNATIONAL MONETARY FUND on its formation in 1947; gold was used as the NUMERAIRE of the Fund's fixed exchange-rate system in setting par values for members' currencies, and members were required to pay one quarter of their 'quota subscriptions to the Fund in gold. Gold continued to serve as the linchpin of the IMF system, and its 'official' price remained pegged at $35 per ounce, down to 1971, when the Fund's fixed exchange-rate system gave way to floating exchange rates. Countries had, however, found it increasingly difficult to hold the price of gold at the $35 per ounce level as world demand for gold as an industrial metal and for ornamental purposes continued to expand. In 1961 a 'gold pool' was set up to regulate dealings in the metal, but in 1968 Fund members bowed to the inevitable and a 'two-tier' price structure was established; gold continued to be priced at $35 per ounce for 'official' transactions between countries' central banks and the Fund, while the 'free' market price of gold was left to be determined by market forces.
In 1972, gold was dropped as the numeraire of the Fund and replaced by the SPECIAL DRAWING RIGHT unit, the Fund's existing gold holdings were sold off, and members were required to subscribe their quotas in a non-gold form. Outside the Fund, many countries have sold off part of their gold reserves, with the UK being particularly active in 1999, having taken the decision to reduce its gold holdings to around 8% of its total reserves. Overall, gold accounts for only some 0.3% of total international reserves. The market price of gold has fallen substantially over the past decade. In 1989 the price of gold averaged around $850 per ounce. Following UK gold sales in 1999, the price of gold at one point fell as low as $250 per ounce. However, despite the determination of the USA and a number of other major gold holders to put a moratorium on gold sales, the price of gold has remained depressed - currently (April 2005), it is around $430 per ounce.
The attractiveness of gold as a reserve asset is underpinned by the fact that, unlike national paper currencies (which are intrinsically worthless), it has a value in exchange as a commodity related to its use as an industrial base metal and for ornamental purposes. Gold holdings, however, suffer from the disadvantage that, compared with other assets such as STOCKS and SHARES, they yield no interest return.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
1787 Brasher Dubloon
1927-D Golden Eagle
1933 Saint-Gaudens Golden Eagle
Abucco
Agiro
Albanian Franga
Al-Mauziinat
Al-Mithqaal bi Dhahab
Al-Naqdain
Altyn
American Gold Eagle
American Principles Project
Apsar
Ari Gold and His Friends
Bank Restriction Act of 1797
Bimetallism
I've got to register my china pattern: gold-leaf entwined women's symbols on a purple background.
Freedom not to marry kit
One way to detect the presence of energetic radiation is by the use of a gold-leaf electroscope.
SUPPLIES NEEDED: Disposable gloves Eggs: wooden, plastic, or real blown-out emu or ostrich eggs Efex decorative latex appliques Old White Chalk Paint Gold wax or gold-leaf paint Contact Cement Walnut or dark paste wax DIRECTIONS: 1.
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The dramatic and elegant globe-shaped bottle is filled with a gold-leaf decorative element that results in a novel end-user experience when applied to the skin and clothing--but one that challenges ordinary pump assemblies.
Bejar Perfums chooses Rexam pump
2 At Buddakan (325 Chestnut St., 215-574-9440, www.buddakan.com), mahogany doors, candlelight, a waterfall, and a 10-foot gold-leaf Buddha, create a plush, warm setting for an engaging menu of modern Asian cuisine.
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It has a sprung stage, an orchestra pit for 40 musicians, cherry wood panels to enhance acoustics, red velvet seats, a red curtain, and two large gold-leaf pillars skirting the stage.
Another theatre, another opening
7 Gold-leaf candle holders, pounds 29.50 a pair, India Jane; vanilla-scented candles, pounds 1.99 each, Rosebys; bauble, pounds 2, House of Fraser.
Interiors: Shopping welcome home; `Weeeelcome. Come on in,' as Peters & Lee once sang. In the great tradition of hostesses with the, er, mostesses, M conjures up all the shiny bits and bobs you need for a truly happy and homely festive do
Gold mutual fund
Gold Reserve Act of 1934
Gold Stock
Gold Tranche
Goldbrick Shares
Goldbricker
goldbricking
Golden Bull
golden handcuff
golden handcuffs
golden handshake
golden hello
Golden Life Jacket
golden parachute
golden umbrella
gold-exchange standard
Goldilocks economy
Goldilocks Market
gold-leaf
Goldman Sachs Commodity Index
Goloid
good and marketable title
good and merchantable title
good consideration
good delivery
Good delivery and settlement procedures
Good faith deposit
Good Faith Money
good funds
Good money
Good Risk
Good through/until date order
Good 'til canceled
Good 'til cancelled order
good title
good-faith estimate
Goodhart's law
gold-bricker
gold-brickers
gold-bricking
gold-bricks
gold-chipped supercomputer
Gold-collar worker
gold-colored
gold-coloured
gold-crowned kinglet
Gold-digger
gold-diggers
gold-digging
GOLD-EAGLE Gold Fund Index
Gold-end man
Gold-Fix
Gold-Fixing
Gold-hammer
gold-leaf electroscope
gold-leafed
gold-leafing
gold-leafs
Gold-medal
Gold-mine
gold-mine of information
gold-miner
gold-mines of information
Gold-mining
gold-myokymia syndrome
gold-of-pleasure
gold-plate
gold-plates