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Finance GlossaryGold Futures
Gold Futures
Definition of Gold Futures
Gold futures are commodity derivatives that derive their value from gold bullion. A trader who buys a gold futures contract acquires the right and obligation to buy gold at a later date and price that’s pre-agreed. Gold futures in India are eligible for physical delivery once the terms of the contract are successfully fulfilled.
Related Terms
At The Money
At The Money is a scenario in which the strike price of an options contract is the same as the market price of its underlying security.
Exercising an option At The Money can lead to a loss as the premium paid for the contract won’t be recovered.
That said, At The Money is known to be a positive indicator as it indicates the option may soon have intrinsic value.
Exercising an option At The Money can lead to a loss as the premium paid for the contract won’t be recovered.
That said, At The Money is known to be a positive indicator as it indicates the option may soon have intrinsic value.
Intrinsic Value Of Share
Intrinsinc value of a share is the actual value of a stock, not the value at which it is trading in the secondary market. There are multiple ways to calculate the intrinsic value of a share. The most common method include discounted cash flow while adjusting the time value of money to calculate the present value of the stock is also a popular method.
Autoregressive Model
An autoregressive model uses one or more past values to forecast the current value of an asset.
The model assumes that past values can have an impact on the current value but the number of past values it takes into account can vary.
For example, an AR(1) model will use one preceding value, an AR(2) model will use two preceding values, and so on.
The model assumes that past values can have an impact on the current value but the number of past values it takes into account can vary.
For example, an AR(1) model will use one preceding value, an AR(2) model will use two preceding values, and so on.
Book Entry Securities
Book entry securities are financial instruments like stocks, bonds, ETFs, and others whose ownership is recorded and tracked electronically. Book building is the process of determining the potential issue price of a financial instrument based on investor demand, generally during an IPO.
For context, there was a time when physical ownership certificates were issued. If someone wanted to sell their shares, they’d have to present the ownership certificate and get it transferred to the buyer.
Book entries have made ownership certificates obsolete as they track who owns what electronically.
The trades are settled by the depository like NSDL or CSDL which sends the buyer a statement confirming ownership.
For context, there was a time when physical ownership certificates were issued. If someone wanted to sell their shares, they’d have to present the ownership certificate and get it transferred to the buyer.
Book entries have made ownership certificates obsolete as they track who owns what electronically.
The trades are settled by the depository like NSDL or CSDL which sends the buyer a statement confirming ownership.
Cash Reserve Ratio
Cash Reserve Ratio (CRR) is the amount of liquid cash a bank has to deposit with the Reserve Bank of India (RBI), calculated as a percentage of the total deposit of the bank. The latest Cash Reserve Ratio in India is 4.5%.
There are two important uses of CRR:
- It acts as a reserve or collateral because banks borrow money from the RBI
-
The RBI decides the interest rate for borrowing based on the CRR
These two pointers become extremely important during high inflation as the RBI can hike interest rates with the assurance of having collateral from banks.
Compounded Annual Growth Rate (CAGR)
Compounded Annual Growth Rate shows how much returns on average an investment can generate over a year, given the data for a period of time (say 5+ years).
CAGR is an indicative measure of yearly returns growth that assumes the profits are reinvested. The formula to calculate Compound Annual Growth Rate is:
CAGR = [(Ending value/Beginning Value)^(1/N)]-1
CAGR is an indicative measure of yearly returns growth that assumes the profits are reinvested. The formula to calculate Compound Annual Growth Rate is:
CAGR = [(Ending value/Beginning Value)^(1/N)]-1
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