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Gold (Commodity)

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Gold (Commodity)


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Scorecard | Sat 29 Aug


Current

Sri Lanka vs India Test

Sinhalese Sports Club, Colombo ,8/28/2015, 10:00 (IST)


recent

England vs Australia Test

The Oval, London ,8/20/2015, 15:30 (IST)

Australia beat England by an innings and 46 runs

South Africa vs New Zealand ODI

Senwes Park, Potchefstroom ,8/23/2015, 13:30 (IST)

New Zealand beat South Africa by 8 wickets

South Africa vs New Zealand ODI

Kingsmead, Durban ,8/26/2015, 16:00 (IST)

South Africa beat New Zealand by 62 runs

About Gold (Commodity)


In various countries, gold was used as a standard for monetary exchange, but this practice has been abandoned with the rise of fiat currency. The last country to back their money with gold was Switzerland, which backed 40% of its value until it joined the International Monetary Fund in 1999. Pure gold is too soft for ordinary use and is typically hardened by alloying with copper or other base metals. The gold content of gold alloys is measured in carats (k), pure gold being designated as 24k. Gold coins intended for circulation from 1526 into the 1930s were typically a standard 22k alloy called crown gold, for hardness. Modern collector/investment bullion coins (which do not require good mechanical wear properties) are typically 24k, although the American Gold Eagle, the British gold sovereign and the South African Krugerrand continue to be made at 22k, on historical tradition. The

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