Five or six years ago, a teenage cousin who had a little money to invest came to me, the family’s financial guru, with a question: What did I think of gold?
The Greeks were also fond of gold, but the Romans were downright obsessed with it. Their enormous empire gave them access to lands where the metal could be extracted on a large scale. Roman engineers invented hydraulic mining methods, which allowed them to collect gold in huge quantities. Before this time, gold was only owned or worn by kings, queens, and other aristocrats. It was rarely traded or exchanged by the hoi polloi. The Romans were the first to use gold as a mainstream form of currency. Their entire monetary system was based on a gold coin called the aureus, which was more valuable and rarer than a silver coin known as the denarius.
Online trading gives a trader the opportunity to invest in a wide market. The gold market changes frequently and its prices are fluctuating, through online gold trading you can switch in to real time gold prices. Online trading can also diminish the risk of inflation. If other business burdens you, demanding your time and presence, by trading gold online it will demand neither your time nor presence. The trading of gold has been seen as relatively safe for short-term as well as long-term investments. All these benefits have turned many people towards trading gold in an online manner.
Look for WAR gold-making companies that are offering 24-hour transaction. You practically don’t know the exact time when you feel the urge to play the game. It definitely is very frustrating when you get cut off because you have no more gold to spend. That’s why it’s always best to choose those sellers who can give you what you need at anytime of the day.
Basically, a test kit also includes a touch stone which is an essential tool. You don’t pour the acid on the whole piece of Gold in order to test it. Instead, you rub a section of the gold article against the stone. Then you put a drop of acid on the golden streak on the stone. All right, for example you rub a 14 karat gold selling price on the touch stone. You will need an acid that is appropriate for testing a 14 karat gold and a 14 karat test needle. This test needle ensures that acid is in working condition and isn’t contaminated. It also allows comparative analysis.
The three titans of annual global consumption in 2011 were India with a whopping 745 metric tons. Followed by China, which consumed 428 metric tons, and a lame United States consuming 128 metric tons. On a global basis Asia has become a giant vortex sucking in gold from every corner of the globe. Gold is flowing from where it is disdained to where it is treasured. The more prosperous Asia becomes the more gold it buys. According to the World Gold Council in 2011 consumer gold demand rose 25% in China and a staggering 38% in India.
Since 2002, the amount of money at the Fed and in the economy has exploded as has the price of gold. As more money circulated in the economy, the dollars you hold lose value, but the price of gold keeps up with the increased supply in dollars. You hold your purchasing power with gold. For example, in 1940, it cost approximately $1,000 for a mid tier car. At that time, the price of gold was $35 per ounce so it cost roughly 28 ounces of gold to buy a car. Today, a mid tier car runs around $40,000, which is close to 28 ounces considering gold costs $1,600 per ounce.
For practical purposes, that is, using precious metals as a new global currency Gold is a better choice. It is not as soft as silver and small ingots bring a higher price. The price of Silver is forecasted to continue its meteoric rise with more room to go higher than gold. So if you are trading precious metals, silver is a better bet.