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Gold is money

21.01.2022

Gold, as a means of payment, was accepted in the process of establishing commodity-money relations. Why did humanity choose gold as money? First of all, because gold is a commodity that is not consumed and is very resistant to the effects of the environment and time. In addition, it has great value even in small quantities, making it a concentrated wealth that is convenient to store and move.

For the same reasons, the gold metal continues to perform monetary, commodity, and currency functions even today. The combination of commodity and currency qualities of gold makes it possible to use this precious metal as a universal means of payment.

Its advantage is that gold has no nationality. It is used as a world currency unit and has its own code designation XAU.

Unlike the dollar, euro and other currencies, which are essentially just paper, gold has the properties and value of a real commodity. When buying or selling gold, we make transactions with a real material object that has a mass, volume and value that has been stable for millennium.

IWI GS – We consider the yellow metal to be the hardest currency in the world and therefore we recommend: invest in gold – this is the most reliable way to save your money in an era of economic instability.

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