Gold

Gold is an extremely versatile commodity that finds use in various fields. Gold is mainly used as investment gold, for industrial purposes, or as jewellery. Investment gold is usually traded in standardised denominations measured by weight. The internationally recognised unit of weight for gold is the troy ounce (31.1035 g = 1 oz). Gold can be acquired in various ways, the most common being the purchase of physical gold and the purchase of gold via financial products (e.g. gold ETCs). Gold has a long history as a store of value and a medium of exchange. In the global economy, gold is regarded as a safe haven that is meant to protect against loss of purchasing power - particularly in times of geopolitical uncertainty, demand for gold as a stable counterpart increases. Central banks often hold large quantities of gold reserves in order to support their currencies and strengthen confidence in financial systems.