Tuesday, December 14, 2010

Market for Gold

In the past, the price of gold has been determined at certain central world markets, such as Zurich Switzerland, and London, England.

These markets will continue to be a major factor in the pricing of gold. Unlike other commodities, the historic role of gold as a standard of value to support domestic currencies and regulate international settlement of trade balance places an unknown factor on the pricing of gold in these world markets.
Political considerations of an international origin modify or distort the action of a free market.

A very special and profitable market exists for gold nuggets in their natural state. These nuggets, also called specimens, may be sold for several times the regular world market price for gold. Unusual pieces of hard rock gold, such as quartz containing veins of gold, are also in demand as specimens and will bring premium price from collectors and hobbyists far in excess of the value of their gold content.

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