The rarity, malleability, durability, ease to identify, and intrinsic
value of gold made it perfect for money. While many civilizations
throughout the world used gold for money, eventually its role would
change with the coming of the gold standard system.
In modern history, gold was shaped by events such as Roosevelt’s
confiscation order in 1933 and President Nixon ending the direct
convertibility of gold to US dollars in 1971. Although gold is no longer
the basis of the modern monetary system, there is more gold demand
today than ever before.
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