Prices of gold:
The prices of gold are always talking in the sky. The reason behind the rise in the prices of gold is that it grows rapidly and is always appreciated by the people. With the rise in economic, gold is such a product which is linked with it. It does not only fall when the prices of dollars decrease. It is obvious that the wealth all over the world are linked with each other. The main disadvantage of rising in the prices is that people don’t value the currency and their faith declines. After the year 1972, the climb in gold prices took place when then US president Nixon closed the standard of the gold. This is observed by the dealers and experts of that time. The US government has taken benefit from the rise in the prices of gold and it was selling freely to the people of the world.
India, USA, Australia, South Africa, Canada, China, New Zealand and many countries are considered to be the producing nation of gold. As it is widely needed today, its value has reduced and availability also in mines. In Kolar located in India, the gold was first brought there but now due to depletion it has stopped its production over there. May be many wont agree with this statement that gold has being reduced these days but it is true fact that the quantity of gold around the world is not too much now as compared to before. It has been quoted by the laws state that any product which is inadequate will goes high when it
comes to prices.
Demands of gold:
All around the people are still demanding for gold although they know the prices are talking to sky, this is because it is a good source to keep money save for the future time. For investment reason it has been calculated that only 25% is used which includes gold bonds. By the US the country which was popular for having gold was considered as India.
History of gold:
Every day it has been observed that gold with the rising in prices comes up with new look which attracts the people very much. The market of gold has always been a fish market. By the gold speculation, people try to make out the useful and benefits from the prices of gold. This is simple but though among the main reason for the increase of prices of gold. The prices of gold varies day by day and keep the people puzzled that what to do next. The people purchase gold in order to keep themselves away from the hikes before they need it. The speculators gain more profit from such thing with the rise in the prices of gold. Read more about the fiat currency history here.
We have seen that world is in trauma over more than half century. This is because of the two wars which took place. Such wars were not only fought by the men but also country requires pooling of the funds to get
the time costs. The government of US thus took action on it and banned the hoarding gold. People of that time considered better to keep gold in their pockets instead of placing cash.
It has been observed that the prices of gold are rising since 2001 and it has no decline over it. It will be the same only if fictional King Midas is alive again and make any such metal again then there is a chance of its decline else it will increase further more in several years.