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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:

The weak job-growth rate in the U.S. crippled the international enterprising trend where gold rate has been soaring high globally in a third session on Monday marking the highest in a month. The astounding cause behind it could be the Federal Reserve's attempt of tempering the speed of job-rate stimulation.

The Dollar Business Bureau The Government on Friday changed the tariff value - the base import prices of a commodity - of several products including gold and silver. The tariff value for gold has been revised to $430 per 10 grams from $428 per 10 grams and for silver to $620 per kilogram from $612 per kilogram. The government revises the tariff rates for certain goods from time to time, which is usually done every fortnight.

Gold futures dropped after rating agency Moody's Investors Service drop the ratings of six European countries, increasing the dollar value and cutting appeal for alternative assets.

MCX GOLD December contract was trading at Rs 26502 up Rs 3, or 0.01 percent. The GOLD rate touched an intraday high of Rs 26516 and an intraday low of Rs 26480.

Source :-http://live-mcx.blogspot.in/ MCX CRUDE OIL TREND, MCX COPPER TREND, MCX GOLD SILVER TREND TIPS. SUPPORT RESISTANCE LEVEL FOR 12 JULY 2012.Crude Oil Tips,Live Rate Price for 11th MCX GOLD August contract was trading at Rs 29262.00 down Rs 166.00, or 0.56%. The GOLD rate touched an intraday high of Rs 29400.00 and an intraday low of Rs 29234.00. So far 9932 contracts have been traded. GOLD prices have moved down Rs 498.00, or 1.67% in the August series so far.Visit http://live-mcx.blogspot.in/ for more tips.

Gold prices inched higher after tapping a nearly six-year low on Wednesday as the market reacted to the minutes of a recent US Federal Reserve meeting that gave mixed signals about a possible rate hike in December.

The GST rate to be applied on gold and bullion will be decided later

Which investments are safe?. Many investors put money in their choice of investment primarily on safety. The safe investments offer quite good interest, but the interest rates lower than a potential high profit in speculative investments......Read Full Text

India's only listed and highest credit rated gold loan company, Manappuram General Finance and Leasing Limited (MAGFIL), has set a target of recording over 100 percent growth in profit of Rs.225 crore this financial year.

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