Why gold? This true wonder of nature has turned out to be man's best friend when it comes down to developing technologies, designing beautiful ornaments, or increasing money's value.
Learn everything about this precious metal.
Although gold was discovered all the way back in 6000 BC, the first records of gold being used as money, however, date back to 600 BC in Asia Minor. It was not until the 13th and 14th Centuries that European countries started minting and using gold coins.
The gold standard (a monetary system based on gold's value) was used throughout the 19th Century until the end of World War II. Starting from 1971, the USA and other countries abandoned their own gold standards and started using the dollar as a reserve currency.
Gold has always been associated with wealth, status, prestige, and heritage. The purity of gold is measured in carats, being 24 the maximum. In jewelry, gold is alloyed with other stronger metals is used.
Investors use gold to diversify their investment portfolios as an insurance against unstable financial markets. While you can use contacts, futures, and derivatives, the safest way to protect your capital is to own physical gold.
Before signing a contract to invest in gold or buying a gold product, it is recommended to check spot gold price charts, in which prices are reported per ounce, to calculate prices.
Commodities are basic articles that can be traded for others of the same type, while currencies refer to the money in circulation. Since gold is neither a currency nor a commodity, it is called “commodity money” and it does not depend on any government or bank. Therefore, it serves as a hedge against inflation and other negative factors.
Massive printing of money, geopolitical conflicts, gold supply and demand are some of the main factors that drive gold prices higher. That is why, investors and buyers stay updated with the latest news before trading, selling, or purchasing.
The precious metal can be bought in the form of coins or bars and, depending on the weight, by the gram, ounces or kilo.
Those who opt to purchase gold bars by the kilo usually store it in depositories or at a bank, among other options. If, on the other hand, you buy gold bars or coins of small denominations, you can take it with you or store it conveniently.
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