Gold (GOLD)

Gold (GOLD) - precious metal, which is used in various spheres of human life - from medicine, to jewelry and investments. For the exchange market, the gold contract is a tradable instrument.

The measure of gold ounce (about 31 grams). When talking about the value of gold, it is this weight of metal that is meant.

Gold is one of the hedging of instruments on the stock exchange. The reasons for this are historical. Until 1944, it was the basis of the monetary system of the entire world, the so-called "gold standard"When a certain amount of gold was taken as the unit of calculation, and each currency was strictly tied to a specific weight of the metal. Thus, it was guaranteed that any sum of money could be exchanged for its equivalent in gold.

However, the economic recession of the 1930s and World War II influenced the world community to abandon the principle of the "gold standard"The US dollar and the pound sterling became the basis of the world's monetary system under the Bretton Woods Agreement of 1944. The pound subsequently became a less influential currency, while the dollar continues to play the role of the main reserve for many countries.

Gold is not only a precious metal or a way to monetize funds, but also a popular investment instrument, the quotations of which are followed by the whole world.