Gold for money

Gold for money because it is the original investment.

1. Gold is money because it is easily transacted and sold either on purchase or sale price and easy to carry and has a high enough price changes.
2. Gold is money because it was created for the broken pieces either into coins without damaging the bar because it is a natural golden .999 (99.9% pure) and is especially timely in the conduct of any business more easily. Gold is also simple interest and is known for each weight is calculated or weighed to determine the actual market price.
3. Gold is money because it easy to store not easily rust, decay or rot because it has its own value and has a very high value throughout the world as a luxury and it becomes very important elements in the steel industry, especially the act This technology also received a Gold down from generation to generation throughout the world again.
4. Gold is always associated with foreign exchange and do not need to be said, judged on price and guaranteed level of security by the government.

As a form of investment, gold is seen as a financial asset that can maintain prices at the current economic environment, political and social time and gold is also seen as a safe investment institutions.

Something you should know about Gold Historical Timeline.Significant Events and the Price of Gold in the Last 50 Years.

1. 1961: The London Gold Pool was established; U.S. central banks and seven nations agreed to buy and sell gold to support the $35 per troy ounce price established on January 31, 1934
2. 1968: The London Gold Pool was discontinued; the two-tier gold price was established – one tier was for official monetary transactions, the other for open-market transactions
3. 1968: Zurich Gold Pool, a buying cartel created by key Swiss banks, is established, giving Switzerland its dominant financial position in the market
4. 1969: Gold Exchange of Singapore opens; serves as a very important link between Far East countries and London
5. 1971: U.S. President suspends convertibility of dollar into gold; dollar devalued by 7.9%
6. 1973: Official U.S. gold price increased to $42.22 per/oz.; US dollar devalued; two-tier gold price terminated; Organization of Petroleum Exporting Countries (OPEC) oil embargo begins
7. 1974: Hong Kong gold market booms; government restrictions on imports lifted
8. 1975: U.S. citizens allowed to hold gold bullion and gold coins for the first time in 40 years
9. 1978: Middle Eastern investors increase gold purchases with oil profits
10. 1980: Gold price peaks at an historic daily high on January 21
11. 1987: Birth of the London Bullion Market Association (LBMA) establishing criteria for refiners and guaranteeing quality of gold bullion bars throughout the world
12. 1989-1991: Conflict in Persian Gulf; collapse of Soviet Union marking end of Cold War; weak economic growth worldwide
13. 1997-1998: Central Banks of several countries sell large quantities of gold holdings to meet currency criteria for Euro; East Asia suffers economic crisis
14. 2000: China deregulates gold markets; Chinese citizens allowed to buy gold bullion after 50 years of closed markets
15. 2000: USA technology sector and “Dot-com” stock market crash
16. 2001: USA “9-11” terrorist attacks in New York City; gold begins historic rise as investors seek “safe haven” in physical gold
17. 2002: China launches gold market, opening the Shanghai Gold Exchange
18. 2003: Introduction of the Euro devalues the U.S. dollar on the international market; oil prices hit $78/barrel; gold surpasses $350/oz.
19. 2006: Barrick Gold and Newmont Mining predict gold reserves will be depleted in 10 years at current production rates; gold prices surge 20% yearly since 2001 to over $650/oz.
20. 2007: Dubai and Saudi oil producers announce major gold bullion purchases to be stored in Dubai; China announces plan to increase gold bullion purchases with excess cash reserves; Vietnam opens Ho Chi Minh Trading Center, Vietnam’s first gold exchange; Gold demand outpaces supply
21. 2007: China invites five world banks, including HSBC, Societe Generale, and Standard Chartered to join the Shanghai Gold Exchange, opening the exchange to global trading
22. 2008: Gold price breaks through $1,000 barrier in early 2008; China opens Shanghai Futures Exchange placing additional demand on gold supply; oil prices surpass $100/barrel milestone; gasoline hits all-time high in U.S.; U.S. crippled by financial crisis; U.S. Dollar hits new lows]

History review by Public Gold

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