gold market, in fact, is the institution that provides the execution of international payments, used for investments and insurance risks of private hoarding and industrial and domestic consumption as well as for various speculative operations.Its operation is carried out by a permanent increase in the cost of precious metals, as they are an excellent alternative to volatile currencies different.Therefore, gold prices may be considered as a criterion on which the estimate of macroeconomic activity of the various states.
history : First Legal gold market in London appeared in the XIX century and up to the 60s of the twentieth century, the main city of the United Kingdom remained the center of the world trade in precious metals.At this point we carry out the sale of the metal mined in various parts of the world, and 75% of sales come from products imported from South Africa.Subsequently, most of these transactions was carried out in Zurich and the British capital was pushed into the background.Since the end of the last century, the most popular are gold, special auctions, where a significant proportion of transactions carried out.Their discovery has allowed the IMF in 1880 to sell 18% of its cash holdings of the precious metal, and the same steps at the time the US government has taken in order to support the dollar.
Determination : Currently, the world gold market covers almost the entire circulatory system of the popular precious metal in a wide scale, including manufacturing, distribution, and subsequent consumption.In narrow terms similar concept is often seen as a separate market mechanism that serves the sale of this product in the international and national level.
Features : Every modern gold market provides two varieties of transactions.The first form is the direct sale of precious metal bullion, and the second - wholesale trading methods under which the buyer acquires a "paper" certificate, which recorded ownership of such items.As a kind of insurance fund reserve and gold is used in almost all modern countries.To date, the IMF reserves and the central bank focuses 31000 tonnes recorded state of the precious metal stocks.But even more significant its reserves stored in the population, and for saving many citizens used coins and jewelry.
now the gold market - the tens of world centers where carried out regular purchase and sale of precious metals.These institutions are represented associations of specialized firms, banks and other financial institutions, which also have the right to produce ingots.A proposal form companies involved in gold mining, and because the regular increase in the cost of such products manufacturers are beginning to engage in the processing and refractory ores.
Consumers : Countries that are major consumers of precious metal, are divided into two groups.The first of these are technically developed countries, who use it in all kinds of industries and fields of technology, as well as in the manufacture of jewelry.These include Germany, the US and Japan, in which gold serves as an indicator of the development of new technologies in instrument.The second group may include Portugal and Italy, as well as Asia and the East, where the precious metals are exclusively used in the jewelry industry.
