Gold market history is spun from tiny moments of time as the price is set on a daily basis throughout the world in millions of transactions. These tiny moments can also be seen as minutes, hours, years, decades and centuries over which golden events have transpired. gold market history

The daily events that take place globally reflect similar events that have occurred since well before the calendar known to us was devised. We do not know when trading began but allusions in very ancient literature indicate its longevity.

People love the precious metal for good reasons. It is beautiful to behold and can easily be worked into objects. It is malleable but durable since it cannot be touched by rust or corrosion, this holding its value. When the earth was more like Eden than it is today the element was probably widely dispersed, to be found in streams or gullies, glittering brightly.

The element is found widely across the planet and has a universal utility. It may first have been used in forms of barter but as civilizations emerged and became more complex, so coins or bars were minted and made according to standard weights. So money emerged as a means through which economies could grow and develop.

What was known as the gold standard play an important part in stabilizing the international economy as it emerged during the twentieth century. Countries accepted that the metal was to be measured in troy ounces and that the governor of a reserve bank would pay on the demand the bearer of a bank note the denominated amount in metal. Reserves were stored in vaults for that purpose and served as the support for the wealth of a nation.

In 1971 The USA cut the link between physical metal and paper money. Other countries followed suit. This was a seminal moment in gold market history. For some decades the price of the metal stagnated but investment demand never died and the value of the precious metal is now glittering as brightly as ever.

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