Group items tagged

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:

Gold in global markets on Friday reached a five-year low. In New York, the price fell to 1129.60 dollars per ounce. It is at its lowest level since April 2010 gold now. The effect of this decline on the domestic market grew. Gold has reached a five-year low. Standard gold prices declined by Rs 150 trading at Rs 25950 per 10 gram..... Read more here- http://www.pinnaclefinancial.in/blog/mcx-tips-china-gold-reserve-gold-trend/

Many investors seem to believe that gold is the ultimate hedge, but Michael McTague, in the interests of myth busting--and truth--gives a resounding "no."

Gold miners are climbing higher and Samaranta Mining Corp., which has interest in Colombia's rich mining industry, could be poised to benefit should the trend continue.