Few Interesting Facts about the Gold Commodity

Since the historic time, gold has been treated as money and has been given a relative standard which is equivalent to currency specifically to some economic regions and countries. People implemented moneycontrol gold tips to use the gold standards as equivalent currency.

Moneycontrol Gold Tips

Since 1919, London gold fixing has been the most common benchmark for the price of the commodity. Further, the commodity has been traded globally consistently derived from over-the-counter gold trading markets around the globe (code: “XAU”).  At present, gold is used as an investment, designing jewelry, and in computerized chips. Countries like India, China, Australia, the U.S., South Africa, Indonesia, Canada, and Russia are treated as the backbone of the global production of gold.

Here are some unknown facts about gold as a commodity:

  • The gold is the only metal with yellow color. Other metals might develop a goldenish color, but, that is only because that the metals have oxidized or reacted with other chemicals.
  • The element symbol of gold is Au and most trade analysts use the symbol to define their gold tips. The symbol comes from the Latin name of gold, aurum which signifies the meaning as “shining dawn” or “glow of sunrise”.
  • Gold metal is highly ductile. For example, one ounce of gold (i.e. about 28 grams) can be stretched into a gold thread of about 5 miles long (i.e. 8 kilometers). Gold threads are broadly used as embroidery art on fabric or other materials.
  • Gold metal is highly malleable. Malleability measures that how easily a metal can be hammered to form thin sheets. This is one of the factors that the metal is in high demand for the investment purpose as it is highly malleable. For example, one ounce of gold can be hammered to form a thin sheet of about 300 square feet. The thin sheets might appear greenish blue in color because the metal strongly reflects red and yellow.
  • Investors follow moneycontrol gold tips to get maximum returns as it is a heavy and dense metal, generally, considered as non-toxic.

Author: moneycontrolcommodiy

Moneycontrol Tips is a leading investment advisory firm in India offering tips on share/stock market, nifty, gold, commodity, intraday etc.

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