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Gold - a commodity or a currency
A good can be bought and sold, can also be interchangeable. In this case, the goods must meet certain standards, because only then are the goods interchangeable, regardless of the manufacturer. Gold is gold, no matter where it was mined or processed. Gold is an elementary metal element, so it is replaceable by an identical product. Therefore, it can be used for electronics, jewelry, or other applications. Gold is therefore a commodity.
But whether gold is also a currency, it is necessary to examine the characteristics of currencies. A currency is, so to speak, a generally accepted form of money. It is usually coins or banknotes issued by a bank. A currency is used to purchase goods or services globally, nationally and personally. Of these three criteria, however, gold meets only two. This is because, unlike today's fiat money, gold is no longer issued by governments. However, it still serves as a medium of exchange and can serve as the basis for trade. Before the end of the gold standard was heralded by President Nixon, gold and money were exchangeable, thus gold was a currency. But this is no longer true today, so gold is not a currency.
Currently, the gold price has risen again, as is usually the case, due to a depreciating US dollar and falling bond yields. ETF outflows, however, still seem to be preventing the gold price from a further uptrend. However, if the important 100- and 200-day lines are overcome, the way to higher gold prices should be paved. It's nice to be invested in promising gold stocks such as GoldMining and Ridgeline Minerals.
GoldMining - https://www.youtube.com/... - owns prospective gold-copper deposits in Peru, Colombia, Brazil, Canada and the US.
Ridgeline Minerals - https://www.youtube.com/... - has four projects with gold and silver in Nevada in its portfolio.
Latest corporate information and press releases from GoldMining (https://www.resource-capital.ch/... -).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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