Definitions

gold

gold

[gohld]

Gold is a valuable metal and one of the most commonly traded commodities in the world. Gold is a dense and soft metal that has a bright yellow color and is most commonly used for jewelry, decoration and as a means of financial transactions. Gold's symbol on the periodic table is AU and it is classified as a metallic element.

The most common application for gold is monetary exchange. Due to its rarity gold has been a means for trading and exchanging goods for many centuries. Most economies were once on a gold standard and all paper currencies were backed with the guarantee of gold. Most economies these days have come off the gold standard, however gold is still a very valuable commodity and is a popular long term investment due to the fact that the supply is limited on earth.

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