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XAU Gold History

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XAU Gold History

By its physical properties, gold is a soft yellow metal. The first mentions of using it as a means of calculation were still found among the Sumerians and the ancient Greeks.

By 1816, gold is affecting the world's economy. Britain pegs the pound to gold. For almost a hundred years, until the First World War, the pound was the international currency at the gold standard.

The First World War stopped world exchanges and by the end of 1910 the pound fell by 25 percent against the dollar.

In 1944, the Bretton Woods system of calculation was introduced, which means the ratio of world currencies to the dollar, and the dollar to gold at $ 35 per ounce.

London 1949 British pound falls 35 percent.

In 1958 the pound fell by another 20%.

And in 1964, Britain raised $ 3 billion worldwide to strengthen the pound.

1965 France exchanges $ 1.5 billion for gold at $ 35 per ounce. Charles de Gaulle's victory over the Bretton Woods system, 1200 tons of gold are taken away from New York.

On November 18, 1967, the pound fell 15 percent against the dollar, the beginning of the end of the gold standard.

As a result, gold meets only the interests of countries with isolated systems of the economy, and in the context of globalization it is poorly applicable, but still remains a key instrument for ensuring the preservation of capital.