GOLD IN ECONOMICS Gold is a chemical element with the symbol Au (from the Latin word "Aurum") and atomic number 79. It is a precious metal which, for many centuries, has been used as money, a store of value and in jewelery. It is one of the coinage metals. Since the end of the Gold Standard, gold has largely lost its role as a form of currency. The Central banks still use gold as a international trading and swapping currency. But it is still considered as a store of value, an asset or reserve currency.
Gold and other precious metals are assets that are both tangible and liquid. For centuries gold has been used as a store of value. When viewed from the historical perspective, no other investment has the wealth preserving power of gold. Other assets are dependent upon a certain government or political climate to retain value, appreciate, and not be excessively taxed, but gold is largely independent of political climate.The usual benchmark for the price of gold is known as the London Gold Fixing, a twice-daily meeting of representatives from five bullion-trading firms.
Gold investment is good for a long term perspectives.
Price per gram of Gold
LBMA Gold Price