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Essay / Research Paper Abstract
This 8 page paper looks at the commodity of gold, examining the way gold is priced and the market performs. The paper starts with consideration of why gold is different to other commodities, the perceptions of gold, the history of gold pricing including the gold standard and Breton Woods agreement. The current performance of gold and the supply chain is also considered. The bibliography cites 17 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEcogold.rtf
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Unformatted sample text from the term paper:
gold mining companies in the the markets. Gold is currently benefiting from the uncertainty in the world markets which makes gold a more favoured investment, and also the weakness
of the dollar, as metals are traded in dollars. The current price is at a high, over $400 a troy ounce (Morrison, 2003). On the 4th of December the price
for gold was $403 a troy ounce on the sport market (The financial.com, 2003) The current prices have also been supported with the an announcement from Barrick Gold, which
although not the largest gold producer in the world, that honour goes to Newmont Mining, is a top three company, in decided to stop forwards sales (Investopedia, 2003). It is
the sale of forward contracts gold that have been blamed for keeping the price down on gold during 1990s (Morrison, 2003). Other gold mining companies have also reduced the level
of forward contracts the are selling (Morrison, 2003). To understand this commodity and the influences ion price the background and role needs to be more understood which indicates both the
perceived security it offers and the emotional value attacked to gold. Historically, international trade has necessitated a medium for trade that is recognised by all countries who wish
to trade. In the past precious metals and stones were all suitable mediums with which to trade. The advantage of these is that they are perceived as valuable by many
cultures regardless of geographic location and economic status. Coins of gold and silver were interchangeable in different regions and even when currency was used it was the metal content that
determined the value of the coin, and as such there was a direct relationship between the value of the coin and the way it could be used internationally over boarders
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