About the Gold (troy ounce)
Gold has served as money, a store of value, and a symbol of wealth and power for thousands of years. Its rarity, malleability, and resistance to corrosion made it an ideal medium of exchange.
The word 'Gold' comes from the Old English 'gold'. Its chemical symbol 'Au' comes from the Latin 'aurum'.
Interesting Facts
The Ultimate Safe Haven
Gold is widely considered the ultimate 'safe-haven' asset, with its price often rising during times of economic uncertainty, inflation, or geopolitical instability.
Central Bank Holdings
Central banks worldwide hold significant reserves of gold as a hedge against currency fluctuations and economic crises, highlighting its enduring monetary role.
Limited Supply
Gold is a finite resource, and its scarcity contributes to its value. All the gold ever mined would fit into a cube about 22 meters on each side.
Historical Timeline
Earliest known use of gold in jewelry and as ornamental objects.
First gold coins minted in Lydia.
Most major nations adopt the gold standard.
The U.S. formally abandons the gold standard, ending its role in the international monetary system.
Quick Facts
- ISO Code
- XAU
- Symbol
- oz
- Subunit
- (1/)
- Introduced
- Ancient
Central Bank
- Name
- None (Market-determined)
Economic Data
Exchange Rates
What Affects the XAU Exchange Rate?
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