Prices measured in Gold (XAU) : Commodity Agricultural and Stock index (Chart List)




Prices measured in Gold (XAU) : Commodity Agricultural and Stock index (Chart List)
Physical Gold is the standard for measuring commodity and service prices. The above charts (from BullionStar) show commodity prices and the stock indexes based on gold. Through this, we can see whether the commodity prices and stock indexes are relatively expensive or cheap. We can also get help in predicting how they will move forward. Spot 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.