Gold was and is money
(PresseBox) - .
Gold coins were considered currency. They are durable, private, and served as a medium of exchange and store of value.
Already the ancient Greeks, Romans, Chinese, and the Lydians (residents of Turkey) used gold as money, that is, as currency. Gold was also one of the first metals discovered by humans. Egyptians were probably the first to melt gold. They also alloyed gold with other metals to obtain variations in color and hardness. The goldsmithing of the Egyptians is well known, just think of the magnificent death masks. Then came the time when countries turned to paper money. They tied the currency unit to gold. Britain was the first country to adopt a gold standard. In the 19th century, the gold standard had been established everywhere except in China.
The Bretton Woods system was established in 1944. A fixed exchange rate system was to be combined with a flexible exchange rate system. It was abolished again in 1973 ('Nixon Shock'). Gold is considered the ultimate investment metal today. After all, the noble metal has maintained its value for thousands of years. It secures wealth, then and now. Paper currencies, on the other hand, experience pressure from inflation, and their value decreases over time. Another increase in the price of gold - after gold already shone with excellent price increases this year - is now expected with the first interest rate cut in the USA.
This is expected to take place in September. Inflation figures in the USA fell for the first time this year in April. This is providing confidence to investors. Because falling interest rates generally boost gold demand. Investors who don't want to miss this opportunity can already take a look at gold companies. These benefit greatly from a rising gold price.
Revival Gold - https://www.commodity-tv.com/play/revival-gold-acquisition-of-ensign-minerals-and-financing-of-cad-7-million/ - owns the largest formerly producing gold mine in Idaho, USA. The exploration area has just been expanded.
Vizsla Silver - https://www.commodity-tv.com/play/vizsla-silver-advancing-the-panuco-silver-district-with-more-drilling-and-a-pea-in-2024/ - impresses with its silver-gold project Panuco in Mexico.
Current company information and press releases from Vizsla Silver (- https://www.resource-capital.ch/en/companies/vizsla-silver-corp/ -).
In accordance with §34 WpHG, I would like to point out that partners, authors, and employees may hold shares in the companies mentioned and thus a possible conflict of interest may exist. No guarantee for the translation into German. Only the English version of these news is valid.
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Unternehmensinformation / Kurzprofil:
Datum: 20.05.2024 - 09:48 Uhr
Sprache: Deutsch
News-ID 705711
Anzahl Zeichen: 4442
contact information:
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"Gold was and is money"
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