call work purposes of gold makes it precious
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The golden glow of candles. The “Silver Bells” of song. The gelt given at Hanukkah. Precious metals play a strong sentimental role—sparkly baubles make great gifts, after all—at the holidays.
But they also play a very practical role in the global economy. Even though no countries now follow the gold standard, gold is, in effect, a form of currency. Precious metals also are essential in manufacturing modern necessities like computers, mobile phones, and aircraft. They also play an important role for investors, who value these assets to diversify their portfolios, to hedge against inflation, and as a safe haven in tumultuous times.
This article explores how certain metals – gold, silver, platinum, palladium, and titanium – came to be characterized as “precious,” and how they came to be seen as investment vehicles.
But they also play a very practical role in the global economy. Even though no countries now follow the gold standard, gold is, in effect, a form of currency. Precious metals also are essential in manufacturing modern necessities like computers, mobile phones, and aircraft. They also play an important role for investors, who value these assets to diversify their portfolios, to hedge against inflation, and as a safe haven in tumultuous times.
This article explores how certain metals – gold, silver, platinum, palladium, and titanium – came to be characterized as “precious,” and how they came to be seen as investment vehicles.
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Most of the gold in the world is produced by a small number of countries: China, South Africa, the United States, Australia, Russia, Canada, Peru, Indonesia.
Gold mines produce rough gold, called a dore bar. These bars are typically about 80 percent pure gold. The gold is then sent to a refinery, where it is refined into gold of different forms and purity.
Perhaps the most widely produced gold bars are the London Good Delivery bars. Under rules established by the London Bullion Market Association, LBMA, these bars — the gold standard of the gold world — must be at least 99.5 percent pure gold, weigh between 350 and 430 ounces (most weigh about 400 ounces), and be stamped with a unique serial number, the fineness, and the seal of the refiner.
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Gold mines produce rough gold, called a dore bar. These bars are typically about 80 percent pure gold. The gold is then sent to a refinery, where it is refined into gold of different forms and purity.
Perhaps the most widely produced gold bars are the London Good Delivery bars. Under rules established by the London Bullion Market Association, LBMA, these bars — the gold standard of the gold world — must be at least 99.5 percent pure gold, weigh between 350 and 430 ounces (most weigh about 400 ounces), and be stamped with a unique serial number, the fineness, and the seal of the refiner.
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Hope it helps you.......
Pls Mark as Brainliast........
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