While the value of gold is a hotly debated topic, one thing is certain: gold is the most popular investment and trade option of all precious metals on the markets. Perhaps the most fundamental reason gold is so popular is because it is an ideal store of value assets. This implies that the value of gold is the exact same all over the world—after currency conversion.
Gold Contract Specifications
→ Click Here for Gold Contract Specifications
Gold Facts
Gold is highly valued because of its beauty, strength, density and rarity. It is unaffected by air, heat, moisture and most solvents. Gold is an important industrial commodity as it can conduct both heat and electricity. Gold is commonly used in jewelry, electronics, and reflective glass. Gold is mined on every continent except for Antarctica. Virtually all gold that has been mined throughout history is still existence in the world today because of its indestructibility. The Unites States is a top producer of gold, behind China and Australia respectively. Nevada, Alaska and California are the top producing states.
From 1792-1971, the United States had a bimetallic standard, meaning that all paper currency was backed up with its face value in gold. This ensured that a physical asset of value existed in conjunction with American currency. The price of gold continues to remain a bull market in the current climate, with record high prices in the past few years.
Source: Barchart
Last updated May 2013.