Gold Bug

• The United States issued gold certificates, the face value of which was identical to their face value in dollars, from 1879 to 1934, when the country abandoned the gold standard.

Krugerrands are South African gold coins minted in 1967.#

• The League of Arab States is a regional multinational organization of the Arabic-speaking countries of the African and Asian continents.

• The gold standard is a monetary system backed by the value of physical gold.

• The London Metal Exchange (LME) is one of the largest commodity exchanges in the world.

• Platinum is a metal used in jewelry, cars and electronics.

• A store of value is an asset that retains its value and does not depreciate.

• A depository receipt is a document issued to holders of futures contracts, especially for precious metals.

• The 1979 energy crisis was one of two oil price shocks in the 1970s - the other was in 1973.

• Category 3P oil reserves represent the total amount of estimated reserves, including all proved and unproved reserves to which the company has access.

• Agribusiness is a combination of the words “agriculture” and “business” and refers to any business related to agriculture and commercial activities related to agriculture.

• A barrel of oil equivalent (BOE) is a way of standardizing natural gas and other energy resources against a barrel of oil energy.

• Crude oil is a raw natural resource that is extracted from the earth and processed into products such as gasoline, jet fuel and other petroleum products.

• Refining operations are processes associated with the transformation of oil and gas into final products.

• Estimated ultimate recovery (EUR) refers to the potential production expected from an oil well or field.

• Futures to Physical Exchange (EFP) allows one party to exchange a futures contract for the actual underlying asset.

• The S&P GSCI is a benchmark commodity index that tracks the performance of the global commodity market.

Gemology is the science of identifying gemstones.#

• Gross Processing Margin (GPM) is the difference between the cost of a commodity and the revenue generated after the commodity has been sold as a finished product.

• In the financial arena, the term hardening is commonly used to refer to a period of rising prices and decreasing volatility, especially in commodity trading.

• Mining regulations allow oil, gas and minerals miners to renew land leases after they expire while mines are still productive.

Accumulation is the purchase of a large quantity of a commodity by a speculator with the intention of capitalizing on future price increases.#

• Horizontal well is a method of directional drilling.

• Hotelling theory determines the price or yield at which the owner of a non-renewable resource will extract it and sell it, rather than leave it and wait.

• The Hubbert Curve is a method for predicting the performance of any finite resource.