International Gold Name
Gold is a precious metal that has been prized by humans for centuries. It is used in jewelry, coinage, and other decorative and industrial applications. Gold is also a safe haven asset, often used by investors to protect their wealth during times of economic uncertainty.
Gold has a number of unique properties that make it valuable. It is malleable and ductile, allowing it to be easily shaped and worked. It is also corrosion-resistant and has a high melting point. Gold is also a non-toxic and hypoallergenic metal, making it safe to wear and use.
The international gold name is XAU. This name is used to identify gold on the periodic table and in financial markets. XAU is derived from the Latin word “aurum”, which means gold.
Gold is traded on the world’s major stock exchanges and futures markets. The most active gold futures contract is traded on the COMEX division of the New York Mercantile Exchange. The COMEX gold contract is a standard-sized contract for 100 troy ounces of gold.
Gold prices are quoted in US dollars per troy ounce. The price of gold is determined by supply and demand. The supply of gold is limited, as it is a relatively rare metal. The demand for gold is driven by a number of factors, including investment demand, jewelry demand, and industrial demand.
Gold is an important part of the global financial system. It is used as a reserve asset by many central banks and is also a popular investment asset. Gold is a safe haven asset, often used by investors to protect their wealth during times of economic uncertainty.
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