Gold is the most precious and rarest of the metal kingdoms. The pure gold texture and the characteristics of the delicate people are the most popular metals. According to the geologist's analysis report, in addition to the cockroaches discovered only in 1802, gold is the rarest metal in the world, which proves the rarity of gold. In addition to the rare things, gold has the following characteristics:
1. Pure gold has a very nice grassy yellow metallic luster. It can be said that gold is the yellowest in all metals. The beauty of gold can be compared to the sun. The ancients always regarded the sun as supreme, so because the color of gold is also close to the color of the sun, people also think it is noble.
2. The pull of gold is very strong, and it is the strongest of all metals. 1 ounce of gold can be pulled into 50 lengths, its ductility makes it easy to cast, and the cast jewelry is beautiful and noble, so gold forms a good choice for making jewelry.
3. Forgeability is second to none. It can cause extremely thin gold pieces that are easy to roll up. The ancients hammered it into thin slices to make a decoration on the temple and the palace.
4. As a precious metal, gold has a strong sense of hand, good toughness and ductility, good guidance, good physical properties, and its performance is: high melting point, reaching l064.43 degrees Celsius, "real gold is not afraid of fire" It means that gold does not melt easily under normal flame.
5. The chemical properties of gold are stable and are not susceptible to deterioration due to oxidation and other reasons. In short, the rarity of gold makes gold very precious, and the stability of gold makes gold easy to preserve, so gold not only becomes the material wealth of mankind, but also becomes an important means for humans to store wealth, so gold has been favored by human beings. The history of gold as a currency is very long. The ancient Roman gold coin unearthed has been more than 2,300 years old. The Persian gold coin has a history of more than 2,500 years. The earliest gold coins in China are the "love" of Chu in the Spring and Autumn Period and the Warring States Period. It has a history of more than 2,300 years. However, the early gold was only a currency that was circulated and used within a certain range and in the region. Gold became a world-recognized international currency during the gold standard that emerged in the nineteenth century.
Before the 1960s
Gold has been a medium of trading for more than 3,000 years. After a long period of time, the gold standard system was gradually established, and became the basis of the British monetary system in 1717. By the end of the 19th century, European countries had widely implemented the gold standard system. The United States implemented the gold standard system in 1900. On the international front, gold is freely imported and exported to settle the balance of payments; gold is in a country with a surplus of income and expenditure in countries with deficits in income and expenditure.
After the outbreak of the First World War, the United Kingdom officially ceased to adopt the gold standard system in 1919, but in 1926 it resumed the use of the BRICS standard system; under this system, banknotes can only be exchanged for 400 ounces of internationally recognized gold bars. In the early 1930s, when the world economy was in a turbulent period, most countries forced the system to exchange gold for currency exchange.] In 1931, the United States in 1933, only the central bank and various governments were allowed to carry out gold activities. Under this circumstance, a dollar exchange system was formed, allowing the dollar to be exchanged for gold in the Federal Reserve. The international agreement was signed in 1944 by the Bretton Woods Agreement and it was implemented until 1971.
In 1934, US President Rosie raised the official price of the Federal Reserve Board to 35 US dollars per ounce. The Federal Reserve and the European Central Bank have been working hard to maintain the exchange rate until 1968.
During the period of 1960
Due to the increasing demand for gold as a jewellery and investment use in the free market, the United States has established a gold pool with the United Kingdom, Belgium, France, Italy, the Netherlands, West Germany and Switzerland, hoping to keep the gold market price close to the official price of 35 ounces. The level of the dollar. This new institution is actually an extension of the external stabilization fund, which allows the Ministry of Finance to increase the supply of gold when necessary to suppress the price of gold in the free market.
The gold color is at least 999 per thousand, and the gold bar called “Thousand-foot Pure Gold†has a purity of 999.9. The following are other weights of gold bars approved by the London Gold Association. These bars are usually bought and sold at the spot local London gold price plus a premium that varies according to the current market conditions. (pure gold content in troy ounces)
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