Understanding How Gold Prices Are Determined Paper currencies have come and gone through the ages but gold has always maintained its value. While cultures have cherished gold for its beauty and viewed it as a symbol of wealth, investors today buy gold to diversify their portfolios, as a hedge against inflation, and for protection against currency devaluation. It’s widely accepted that gold is a good investment, but less is known about how gold prices are determined and what affects the daily price of gold. Value of the U.S. Dollar The…Read More
Why do we value gold?
Why do we value gold? Mankind’s attitude to gold is bizarre. Chemically, it is uninteresting – it barely reacts with any other element. Yet, of all the 118 elements in the periodic table, gold is the one we humans have always tended to choose to use as currency. Why? Why not osmium or chromium, or helium, say – or maybe seaborgium? I’m not the first to ask the question, but I like to think I’m asking it in one of the most compelling locations possible – the extraordinary exhibition of…Read More
The ounce (abbreviated oz; apothecary symbol: ℥) is a unit of mass used in most British derived customary systems of measurement. The common avoirdupois ounce (approximately 28.3 g) is 1⁄16 of a common avoirdupois pound; this is the United States customary and British imperial ounce. It is primarily used in the United States to measure packaged foods and food portions, postal items, areal density of fabric and paper, boxing gloves, and so on; but sometimes also elsewhere in the Anglosphere. Besides the common ounce, several other ounces are in current…Read More
Gold as an investment Of all the precious metals, gold is the most popular as an investment. Investors generally buy gold as a way of diversifying risk, especially through the use of futures contracts and derivatives. The gold market is subject to speculation and volatility as are other markets. Compared to other precious metals used for investment, gold has the most effective safe haven and hedging properties across a number of countries. Gold price Gold has been used throughout history as money and has been a relative standard for currency…Read More
Gold is a chemical element with symbol Au (from Latin: aurum) and atomic number 79. In its purest form, it is a bright, slightly reddish yellow, dense, soft, malleable, and ductile metal. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements and is solid under standard conditions. Gold often occurs in free elemental (native) form, as nuggets or grains, in rocks, in veins, and in alluvial deposits. It occurs in a solid solution series with the native element silver…Read More