Today, while dawdling aimlessly at the lounge of the bank, waiting for an apparently easy task to complete (which literally took them ages), I picked up a leaflet on opening a gold account.
Spooky as it seems and within 10 minutes, traded 1 tael of gold which is equivalent to USD1,128.00 at market close - Just like that!
Now you understand how banks operate. It almost always cost you more time to withdraw money than depositing.
There I also learned today, this world that we are living in, hasn't at all gone metric. What gets complicated is 1 tael does not equal to 1 ounce and there are indeed many different weighting standards of tael depending on the region or type of trade.
Just how absurd can it get?
In Hong Kong, one tael is 37.79936375 grams and with the limited mathematics brain cells in me, I figured 1 tael equals 1.33333 ounces or 1 ounce for 0.75 tael flipping over.
Why did I have to go through this pain?
Because I can't find any gold prices listed in tael at all. They are all in ounces. Splendid! Now what did I just got myself into?
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