INVESTING IN GOLD ==AUTHOR: ELVIO ARMANDO TUOTO ==
The
greatest advantage of
INVESTING in gold is its proven
ability to
preserve value over time and be a good diversifier within a portfolio.Gold
has proved itself to be an effective way to manage wealth. For at least
200 years the price of gold has kept pace with inflation.Gold forms the basis for a
monetary standard used by the International Monetary Fund (IMF) and the Bank for International Settlements (BIS). Its ISO currency code is XAU.The
precious metal is measured by troy weight and by grams. When it is
alloyed with other metals the term carat or karat is used to indicate
the amount of gold present, with 24 carats being pure gold and lower
ratings proportionally less.The purity of a gold bar can also be
expressed as a decimal figure ranging from 0 to 1, known as the
millesimal fineness, such as 0.995.The price of gold is determined on the open market, but a procedure known as the Gold Fixing in London, originating in 1919, provides a twice-daily benchmark figure to the industry.The largest gold depository in the world is that of the U.S. Federal Reserve Bank, in New York.