Tael

Chinese unit of weight in which trading is done on the Hong Kong market and some other centres, such as Taiwan. 1 tael = 1.20337 troy ounces (37.4290 grams). The nominal fineness of the Hong Kong tael bar is 990 but in Taiwan, 5 and 10 tael bars may be 999.9 fine. The bars traded are normally 5 and 10 taels, although a 1 tael bar, shaped like a slipper bath, is also sold to investors.

The range of tael bars made by King Fook for the Hong Kong market
(Credit: courtesy King Fook Finance Co.)

The basic contract on the Hong Kong Gold and Silver Exchange is a lot of 100 taels, composed of twenty 5-tael bars. The tael bar Good Delivery list of accredited gold refiners includes Hing Fung, King Fook, On Lung, Po Sang, Wing Fung and Heraeus.