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Gold Pricing

Content courtesy of West Timmins Mining Inc.

The usual benchmark for the price of gold is known as the London Gold Fixing, a twice-daily telephone meeting of representatives from five bullion-trading firms. Furthermore, there is active gold trading based on the intra-day spot price, derived from gold-trading markets around the world as they open and close throughout the day.

Gold Price Performance
	2004-2005	2002-2005	2000-2005
Euro	8.87%	9.20%	18.37%
UK£	9.62%	18.75%	32.80%
US$	8.62%	43.52%	59.24%
Yen	10.92%	26.74%	63.23%

Source of Table: http://www.gold.org/value/invest/whybuy/risk_factors/index.html

The dollar price of gold has gained more than 50 per cent since it reached a 20-year low in August 1999.

The US dollar’s strength from about 1980 to 2000 explains why the gold price didn't perform well during those years. Furthermore, in that period, central bankers successfully fought inflation, diminishing the metal’s role as a hedge against rising prices.

Gold price performance in a range of currencies and over a variety of periods can be found on the prices page in research and statistics.

For more on gold pricing, link to: http://www.goldprice.org/

Gold's Uses

Gold’s many unique qualities make its allure easy to explain. First, it’s rare. It is also the most malleable (that is, able to be hammered into very thin sheets) and ductile (able to be drawn into a fine wire) of all metals. It is so malleable that a goldsmith can hammer one ounce (28 grams) of gold into a thin translucent wafer covering more than 100 square feet (9.29 square metres) only five millionths of an inch thick. A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court. A single ounce can be stretched into a wire 50 miles (80.5 kilometres) long.

For thousands of years, this metal's colour and lustre, along with its resistance to oxidation or tarnishing, has made it valuable for ornamentation of all kinds.

It has been designed into the world's most coveted and exquisite jewelry - fit for royalty. Long before Cleopatra commissioned her lavish gold jewelry, people the world over adorned themselves with the shimmering metal and continue to embrace gold’s cachet and aesthetic qualities to this day.

Gold’s uses extend far beyond ornate jewelry or fashion adornments. It has an abundance of scientific uses.

Gold is a catalyst – that is, something that accelerates a chemical reaction without itself being involved. It has played this role in myriad chemical reactions. To see some of these, click onto:

http://www.gold.org/discover/sci_indu/gold_catalysts/index.html

Gold plays an important role in the electronics industry. Cell phones are likely to contain gold, as are the circuit-boards of computers. Gold is held in high esteem by electronics makers because it is indestructible, highly resistant to corrosion, easy to work with, and an effective electrical conductor.

Gold has many health uses too, from dental-restoration applications to use in wires for pacemakers and gold-plated stents used to treat heart disease. Doctors like gold-plated stents because they are highly visible in an X-Ray.
Because gold is highly resistant to bacterial colonization, it is the material of choice for implants that are at risk of infection, such as those for the inner ear. Gold is considered a very valuable metal in microsurgery of the ear.

Important Notice

This general information on gold and other minerals is compiled from publicly available information. The views expressed in this website are solely those of the author and should be viewed as informational commentary only. In no way should these views, opinions or commentary be considered investment advice.

West Timmins Mining Inc. nor MightyStocks.com is responsible for the content of external links from this website.

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