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Gold has always played an important role in the international monetary system throughout history. At various times in history, many countries minted gold coins, and the world's first gold coin was made around 560 BC. In the 19th century, the discovery of gold mines in California triggered the largest wave of immigration in American history (the Gold Rush).
In this document, we will explain the position of gold in the economy and why gold continues to be a popular investment destination.
Table of Contents
- The history of gold development
- Analysis of gold demand and supply
- Why do people invest in gold?
- How is the price of gold determined?
What kind of investment options related to gold are available?
Summary
Over a long historical period, gold has been widely used as a currency in many countries. Gold could be exchanged at a fixed exchange rate as currency. This was well known as the "gold standard". This system was initially adopted by the United Kingdom and later spread worldwide.
However, the gold standard lost its significance due to World War I. The Great Depression led to a massive...