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Gold has been used throughout history as money and has been a relative standard for currency equivalents specific to economic regions or countries. Many European countries implemented gold standards in the latter part of the 19th century until these were dismantled in the financial crises involving World War I. After World War II, the Bretton Woods system pegged the United States dollar to gold at a rate of US$35 per troy ounce. The system existed until the 1971 Nixon Shock, when the US unilaterally suspended the direct convertibility of the United States dollar to gold and made the transition to a fiat currency system. The last currency to be divorced from gold was the Swiss Franc in 2000.trade4target systems are simply systems that base trades off of breakouts of recent consolidation areas.Since 1919 the most common benchmark for the price of gold has been the London gold fixing, a twice-daily telephone meeting of representatives from five bullion-trading firms of the London bullion market. Furthermore, gold is traded continuously throughout the world based on the intra-day spot price, derived from over-the-counter gold-trading markets around the world (code "XAU"). The following table sets forth the gold price versus various assets and key statistics:

Investors are shedding gold and silver holdings at record speed as a preference for the dollar and fear of future liquidity impact attitudes. Miners, in spite of being undervalued against gold, are also being sold off amid the volatility.

Gold slid considerably today as a rising dollar, the result of a seemingly inevitable Greek default, made commodities less attractive. Only indirectly dependent on the strength of the dollar, miners experienced more moderate losses and even gains for some companies as gold bulls expressed their ongoing confidence.

JPMorgan Chase led financial stocks lower today after the second-largest bank in the U.S. reported disappointing results in Q3. Late trading surges helped to minimize the market's decline.