Sunday, May 22, 2011

Gold Price and Its History

Gold prices, and gold price, are all common terms usually used when people look for information about current gold prices and gold charts via the internet. Other terms usually used are price of gold, gold spot, and spot gold as well. By typing one or more of these gold price related terms on Yahoo!, Google, or other search engines, in just a few seconds we will soon get several information that can links us to relevant website of our choice after we press the enter key on the keyboard. It’s that simple. We know that. But, do you know the history of these terms? This post will briefly discuss it.

Gold Prices term being fixed began on September 12th 1919 originally by Sharps Wilkins, NM Rothchild & Sons, Samuel Montagu & Co., Pixley & Abell, Mocatta & Goldsmid. They were Gold Bullion Traders and Refiners of that time. Gold prices are currently fixed in U.S dollars, euros, as well as British pounds. Why the gold price is need to be set? The gold price is set, and designed, to provide a recognized rate that is used as a benchmark for the majority of gold products, current gold prices, and derivatives throughout the gold world's markets.

How many times and how to set the price of gold everyday? And, why there’s a phrase: “There are no flags, we’re fixed”? Find the more detail discussion on this issue here at the relevant website by clicking this phrase: “Gold Prices”! Good Luck.


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