History of Gold

History of Gold

Check out the latest rise in gold prices of about $ 20 (~ 1900), somewhere around $ 800 (early 1980). Today, we see gold back in 2007 to about U.S. $ 650. So remember, if the reference is to a stream of gold in California in 1900 Dollars, given the typical price was $ 20 back to 1900. This means that the current price is about 40 times higher. Before you jump up and down with joy begin, about what really happened, the U.S. Dollar has experienced,inflation to 40 times in the last century. The value of a product called Gold standard reference costs 40 times as much. This is a bad thing, there's nothing like the loss of 4000% in value.

Gold is a precious metal, as long as people think. The reason is important is that it is universally accepted as a medium of monetary exchange to find its useful, beautiful and hard to accept. It is said by some that most of the world Supply of gold was removed fromthe ground and disappeared into ingots and coins, but was struck, however, only 1% to 20%, depending on who you talk. That leaves 99% to 80% of all gold in the world still in the ground! People have always wanted was gold and that is why there are many gold rush all over the world. A gold rush is a time when people on the fields, where gold was discovered, to search for to grab their share of the wealth of the race.

Not many minersbecome rich after 1800. Seekers often go home with less than at the beginning to make inroads, if they made it back to everyone. Some say the owner mining has become rich, although many do not. In addition to the lucky few with a fortune in gold, those who had made ​​great marketing entrepreneur. People who use this entrepreneurial skills and initiative had to start a business and run the risk very well. For example, Levi Strauss, the inventor of jeans Levisone of them was the California gold rush in 1849

Another way an entrepreneur managed this feat was the goods from the shops of the city to the mines at a distance and soaps. The goods which are valuable Food that the miners did not like barrels of butter or berries contain, for example. They would have the goods to farm gold and sell for many times the price they bought it for. Another thing was to buy all the mining equipMent they could. Theirpurchase tools such as hoes, shovels and pots of gold and sold the devices anywhere in the mining concessions for many times the price as well. Supply and demand in action.

Go past the gold had a fixed price known as the gold standard, which was approximately 12 to 35 U.S. dollars per ounce at that time. When the U.S. dollar, the gold standard in 1971, in 1979, the price of gold rose rapidly to $ 850 per ounce. By 2007, this would be assessedaround ,600 an ounce when corrected for 4% inflation. Shortly after this rise, it fell to 0 to 0 an ounce. The current spot or market price as of 2006 was around 5 to 5 per ounce, but if you find a nugget it's market value is much higher. Go to www.doradovista.com for more information on gold, or go directly to History of Gold for the full article.