Gold price vs Commodity Stock Bond Forex markets
Gold (XAU/USD) : Sign of physical gold: Au from Latin 'aurum'. Atomic number 79. Code: XAU. XAU refers to the ISO 4217 standard code for one troy ounce of physical gold. 1 troy ounce (oz t) = 31.1034768 grams. XAU = 99.99 percent pure gold = 24K gold. 24k gold means that all 24 parts in the gold are all pure gold without traces of any other metals. Gold is relatively rare element and is a precious metal that has been used for coinage, jewelry, and other arts throughout recorded history. In the past, a gold standard was often implemented as a monetary policy, but the world gold standard was abandoned for a fiat currency system after 1971. A total of 197,576 tonnes of gold exists above ground, as of 2019. The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry.
Only physical gold and silver are real money. Physical gold and silver could be insurance that can protect you and your loved family under any adverse circumstances. History shows that all empires, nations, regimes with fatal debt levels eventually resort to the desperate call to devaluing their currency in an effort to counterfeit their way out of a debt crisis. The end result of such currency devaluation is always the same. Tragic! Gold Banks is a good information center for buying and keeping physical gold and silver.