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Gold is a measure of which is recognized all over the world. For centuries it was the foundation of the international monetary system and, today, it remains one of the most important components of a country’s foreign currency reserves. What gold attractive is that it has a value of its own for both industrial and ornamental purposes, paper bank notes, which are worthless themselves. As a result, gold is bought as an in times of financial uncertainty. Until the 1930s, several European currencies were based on the Gold Standard, which meant that the value of a of currency was fixed in of a stated quantity of gold. People could freely any bank notes they had for gold. In 1931, world-wide financial problems the Gold Standard to be dropped. Then, in 1935, the USA, France and the UK the price of gold at $35 an ounce, which remained the price until 1971. Because the demand for gold so fast, however, the price of gold for ornamental and industrial purposes was to rise. Today one ounce of gold costs $390 in London.
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