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Gold - XAU
Gold is a chemical element with the symbol Au (from Latin: aurum "gold", originally "shining dawn") and an atomic number of 79.
Gold
has been widely used throughout the world as a vehicle for monetary
exchange, either by issuance and recognition of gold coins or other bare
metal quantities, or through gold-convertible paper instruments by
establishing gold standards in which the total value of issued money is
represented in a store of gold reserves.
Gold
standards and the direct convertibility of currencies to gold have been
abandoned by world governments, being replaced by fiat currency in
their stead. Switzerland was the last country to tie its currency to
gold; it backed 40% of its value until the Swiss joined the
International Monetary Fund in 1999
Many
holders of gold store it in form of bullion coins or bars as a hedge
against inflation or other economic disruptions. However, some
economists do not believe gold serves as a hedge against inflation or
currency depreciation.[12]
The ISO 4217 currency code of gold is XAU.
Modern
bullion coins for investment or collector purposes do not require good
mechanical wear properties; they are typically fine gold at 24k,
although the American Gold Eagle, the British gold sovereign, and the
South African Krugerrand continue to be minted in 22k metal in
historical tradition. The special issue Canadian Gold Maple Leaf coin
contains the highest purity gold of any bullion coin, at 99.999% or
0.99999, while the popular issue Canadian Gold Maple Leaf coin has a
purity of 99.99%. Several other 99.99% pure gold coins are available. In
2006, the United States Mint began production of the American Buffalo
gold bullion coin with a purity of 99.99%. The Australian Gold Kangaroos
were first coined in 1986 as the Australian Gold Nugget but changed the
reverse design in 1989. Other popular modern coins include the Austrian
Vienna Philharmonic bullion coin and the Chinese Gold Panda.
HIGH
RISK WARNING: Foreign exchange trading carries a high level of risk
that may not be suitable for all investors. Leverage creates additional
risk and loss exposure. Before you decide to trade foreign exchange,
carefully consider your investment objectives, experience level, and
risk tolerance. You could lose some or all of your initial investment;
do not invest money that you cannot afford to lose. Educate yourself on
the risks associated with foreign exchange trading, and seek advice from
an independent financial or tax advisor if you have any questions.
Warning
of risks and responsibilities. FX-PQ Forex Quebec or every person
having a link with FX-PQ Forex Quebec will accept no responsibility for
any losses related to the speculation or any damage related to the
confidence on the information contained on this site, or quite other
site belonging to FX-PQ Forex Quebec or his owners. The information, the
data, the quotations, the indications, the graphs and the signals of
purchase and sale of the forex currencies marcket are published only in
title area codes and can not be exact and can differ from the real price
of the market and are not thus convenient for purposes of trading.
Please be completely informed about the risks and the costs related to
trading on financial markets and FX-PQ Forex Quebec will
assume no responsibility for the losses related forex to trading which
you could incur because of the use of these data.
Copyright by FX-PQ Forex Quebec © 2010
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Physical Solid Fine Gold Bar
Gold
prices jumped above $1,300 an ounce for the first time on Tuesday, in a
seemingly unstoppable surge that has confounded skeptics and turned
bears into bulls. (...) Read full analysis
September 28, 2010
