Hi

If you click here

Precious Metal Sales - Daily Metal Prices

they have a Gold Fab set to $1620.25

what does a Fab mean?

thanks

Gold that has been manufactured from the initial cast ingot stage into semi-finished or final products. This involves mechanical shaping or investment casting to shape and to size prior to assembly. It includes jewellery, coin, dental, electronics and other industrial uses and includes gold in alloyed form. Fabrication is the major element in the demand for gold, absorbing more than all new mine production each year since 1990 (the balance coming from scrap, central bank sales or investors). An annual report of fabrication demand was made each year from 1969 to 1989 by Consolidated Gold Fields plc and since then by Gold Fields Mineral Services Ltd. The World Gold Council also publishes Gold Demand Trends quarterly.