Glossary

G-7

– Seven emerging economic powers of the world cooperate on international monetary issues as the G-7 nations. G-7 nations include Canada, Italy and the Group of Five: Brazil, China, India, Mexico and South Africa.

Going long

– The act of speculatively purchasing a currency for the purpose of investment.

Going short

– The act of selling stock not owned by the trader but instead, borrowed from a broker in the hope that it can be bought back at a lower price.

Gold certificate

– A coupon used to represent gold so it can be traded without having to deal with a physical transfer. Gold certificates are usually redeemable upon demand.

Gold contract

– The basic unit of trading gold is the gold contract, which represents 10 troy ounces of gold.

Gross domestic product (GDP)

– GDP is the net value of the goods and services produced within a nation's borders, usually calculated annually. It includes investments, exports, imports, public use and private consumption.

Gross national product (GNP)

- GNP is the total of the GDP plus income from work done or investments made by the nation or citizens of the nation outside the borders.

Good'til cancelled (GTC)

– A GTC is an open order to buy or sell a currency at a named price. The order stays open until it is met or cancelled.