Abstract
Gold are one of the precious metal in the world and a part of by and large all types
of civilization. Mankind has always been fascinated by Gold since ancient times.
Gold has more concerns due to its value and impact on the economy. In the late
20th century Gold standards have been the most widespread source for monetary
policies, which is displaced by paper currency now. Since 2009, the total quantity
of Gold mine in human history is about 165,000 tons which is approximately equal
to 5.3 billion troy ounces. The world Gold consumption in percentage volume is
about 50% in jewelry, 40% in investments, and 10% in industry.
Since ancient times, Gold is one of the most valuable and expensive metal.
Worldwide, Gold is a monetary system in which its value is being used as currency
and economic standards of accounts in many international markets. Gold has been
commonly used as a medium for monetary exchange throughout the world, In past
it was valued with the use of Gold coins and was also recognized with bare metal
quantities, whereas now it is found as Gold-convertible paper instruments after the
establishment of Gold standards in which the overall worth of paper money is
embodied in a store of Gold reserves.
Farah Naz, Zahid Ahmad. (2016) Forecasting of Indian Gold Prices using Box Jenkins Methodology, Journal of Indian Studies, Volume 2, Issue 1.
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