Gold has been one of the most desired among precious metals across the centuries. Right from the Egyptians, the Romans, and the Greeks, right up to present day cultures around the world, people have had an extreme fascination for gold. The use of gold can be seen in coins, art and jewelry, down through the ages. The beauty as well as the physical and chemical qualities of gold have made it a highly desirable precious metal.
The daily benchmark price of gold is determined by a process known as the London Gold Fix. It is done by The Bank of Nova Scotia, Societe Generale Corporate & Investment Banking, Barclays Capital, Deutsche Bank AG London, and HSBC, which are the five members of the London Gold Market Fixing Ltd. The London Gold Fix is done twice a day, once in the morning and once in the afternoon, when the US markets open.
It is a wise investment decision to buy gold because this precious metal is the only currency that has never failed over the 5000 years of its use in history. All other currencies used by people over the ages have failed, but gold is the only one that has stood the test of time. Unlike other currencies using coins or paper, the value of gold has held steadily throughout the ages. Therefore, gold is seen as a more reliable means to pass on wealth from one generation to the next.
Gold can act as a very effective hedge against inflation. Whenever the cost of living in a country rises, the price of gold tends to rise along with it. When inflation hits, the value of gold almost always goes up. Apart from being a reliable investment during times of financial crises, gold is also known to retain its value during times of geopolitical uncertainties. During times of war and political unrest worldwide, people tend to use the relative safety of gold for their investments.
There is an extreme shortage of investment-grade gold available today. If all the gold in the world is equally divided and distributed to every single person on the planet, each person would get just a third of an ounce of gold
The price of gold is often revalued to account for the excess currency in a nation. As of today, gold would have to be revalued at $15,000 per ounce to account for all the dollars printed by the Federal Reserve of the United States. Since gold is an anonymous and completely private investment, it is an extremely portable and convenient form of investment.
The daily benchmark price of gold is determined by a process known as the London Gold Fix. It is done by The Bank of Nova Scotia, Societe Generale Corporate & Investment Banking, Barclays Capital, Deutsche Bank AG London, and HSBC, which are the five members of the London Gold Market Fixing Ltd. The London Gold Fix is done twice a day, once in the morning and once in the afternoon, when the US markets open.
It is a wise investment decision to buy gold because this precious metal is the only currency that has never failed over the 5000 years of its use in history. All other currencies used by people over the ages have failed, but gold is the only one that has stood the test of time. Unlike other currencies using coins or paper, the value of gold has held steadily throughout the ages. Therefore, gold is seen as a more reliable means to pass on wealth from one generation to the next.
Gold can act as a very effective hedge against inflation. Whenever the cost of living in a country rises, the price of gold tends to rise along with it. When inflation hits, the value of gold almost always goes up. Apart from being a reliable investment during times of financial crises, gold is also known to retain its value during times of geopolitical uncertainties. During times of war and political unrest worldwide, people tend to use the relative safety of gold for their investments.
There is an extreme shortage of investment-grade gold available today. If all the gold in the world is equally divided and distributed to every single person on the planet, each person would get just a third of an ounce of gold
The price of gold is often revalued to account for the excess currency in a nation. As of today, gold would have to be revalued at $15,000 per ounce to account for all the dollars printed by the Federal Reserve of the United States. Since gold is an anonymous and completely private investment, it is an extremely portable and convenient form of investment.
