Standards Development

Scope

This document defines a set of terms and definitions for the precious metals and is intended to provide greater clarity to manufacturers and traders. It excludes terms applicable specifically to jewellery and gemstones.

Purpose

There has been no defined standard document for terms and units in the precious metals industry. It seems that a document for everyday usage terms and units for precious metals producers, traders and consumers to be needed.

These common concepts help users to convey their needs to each other more easily and quickly in the international area. 

A major concern held by the precious metals industry is that the customer will be able to use the clear and accurate terms and units to be aware of that what type of product is being sold to them. This draft is about the accepted terms in the precious metals industry and has been prepared for the users of this industry and includes the general, units, production, manufacture and sampling terms of precious metal products.

The document also includes a series of definitions which aim to provide further clarity for traders and maintain consumer confidence in the precious metals industry as a whole.