Assay

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Assay

Metal purity test to confirm that the metal meets the standards for trading on a commodities exchange (commodities exchange center).

Assay

To test precious metals for their purity. This is important to commodities and futures involving precious metals, in which the quality of the underlying metals must be specified in the contract.

assay

A test to determine the purity of gold, silver, or other precious metals. Metals used for delivery of futures contracts must be assayed to verify that they meet standards established by the exchange on which the contracts trade.
References in periodicals archive ?
"On two occasions, he told Irma how he had hitchhiked home because of a lack of public transport, and was faced with walking long distances and sleeping by the roadside - so desperate was he to spend time in the comfort of his family home.
On Sunday morning, Irma hit Florida Keys, and then turned towards the mainland.
However, Hurricane Irma has downgraded to a Category 1 storm and has flooded several northern Florida cities with heavy rain and high storm surge on Monday as it headed out of the state after cutting power to millions and ripping roofs off houses.
While the projected track showed Irma raking the state's Gulf Coast, forecasters warned that the entire state, including the Miami metropolitan area of six million people, was in extreme peril from the monstrously wide storm.
Appliances and furniture were seen floating away in the low-lying Keys, though the full extent of Irma's wrath there was not clear.
"I don't know how they've done that, to have a Harvey and Irma," Irma Schluter said Wednesday.
Elsewhere holidaymakers and expats have told of their fights for survival - with one couple having to lie on top of their two scared young children to save them as Irma tore through their home.
Washington (dpa) H urricane Irma , which has again been downgraded to the second-highest category of 4, has lost strength moving over Cuba on it's way to the south-east US state of Florida.
RELIEF efforts are under way on islands devastated by Hurricane Irma, as a second "extremely dangerous" storm threatens the Caribbean.