In the world of finance, one important term to understand is fineness. It refers to the purity of a precious metal, typically measured in 1,000 parts of an alloy. For example, a gold bar with a fineness of .995 would consist of 995 parts gold and 5 parts of another metal. This measurement is crucial in determining the value and quality of precious metals, making it a key concept for any student or practitioner of finance.
