GOLD PRICES

Among all the naturally occurring elements gold is the most valuable metal after platinum and is used the most for investment purposes. Gold markets are always kept under speculations especially keeping in view the future contract and gold prices. It is said and believed that gold acts more as a money than metal or a product. This is the reason that gold has been used a a equivalence for money since long ago as the value of currency depends on the price of gold, higher the gold price greater will be the value of currency and vice versa. After the second world war US made  the $ prices reliant upon the gold prices. As $ is the international currency so all the currencies of world varies accordingly on the rates of $ which ultimately fluctuates according to value of gold. This system continued till 1971 when US suspended the direct convertibility of $ from gold. From the year 1919 London Gold Fixing has been the most common bench mark of gold prices which daily twice updates the prices of Gold after knowing from the world's top representatives of the gold. Like all the products the price of gold is handled by supply and demands accordingly. Unlikely the other products gold prices are greatly effected by its demands. About 2,500 tonnes   of gold is annually produced by mining. This stat is given by World Gold Council. Of this 2,500 tonnes 2000 tonnes is consumed in jewelry products while the rest is taken by the gold retailers and gold investors and is used in gold traded funds. Here is a link for checking the latest gold prices all over the world. LATEST GOLD PRICES . Currently the price of gold is about 55$ per gram (december 2012 stats).

                          

It will not be wrong that if we say that don,t buy gold rather invest your share in Gold and get your profit as Gold prices are increasing day by day.