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Why The trends of the state of world affairs affects Gold Prices.
As civilizations developed commerce and trade systems, standardized means to trade debt or instrument of trade negation of soon trade became desirable throughput a region. Various commodities were used, however to gold was considered supreme because its limited availability, durability, measurable consistency and unique properties in industry make it particular attractive and reliable as a the ultimate instrument of trade. Various forms gold standard based economies and trade agreements have been established over the centuries, however the last few centuries have favored the adoption of legitimized representative forms of trade currency. Beyond the obvious practical considerations, representative forms of currency has control advantages that appeal to many governments. That said, gold still is the ultimate international instrument of financial negotiation that is always in demand. Especially in uncertain times and when crisis prevails.
A fully backed gold standard economy exists enough gold to convert all of the representative currency issued at the current exchange rate is in supply of the holding accounts of the various countries in the banking system. Some people believe that this would be impossible to achieve today, as the re is insufficient gold to practically manage all the worlds liabilities.
Since gold is the If the economic I believe i implemented, an ounce would be more than a $100k based on US debt alone, so save those nuggets. Especially considering trend of state of world affairs.
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