ZLATO – dôležité medzníky

It is the most sought after commodity in the world. Gold, the yellow metal, is just the most glamourous commodity that is booming and booming in 2008. Check out here the historical milestones of Gold.

August, 1971 - President Richard Nixon takes the dollar off the gold standard, which had been in place with minor modifications since the Bretton Woods Agreement of 1944 fixed the conversion rate for one Troy ounce of gold at $35 (U.S.).

January, 1980 - Gold hits record high of $850 per ounce. High inflation because of strong oil prices, Soviet intervention in Afghanistan and the impact of the Iranian revolution all prompted investors to move into the metal.

August, 1999 - Gold falls to all-time low of $251.70 on worries about central banks reducing reserves of gold bullion and mining companies selling gold in forward markets to protect against falling prices.

October, 1999 - Gold surges to two-year high of $338 after agreement to limit gold sales by 15 European central banks. Market sentiment toward gold begins to turn more positive.

February, 2003 - Gold reaches 4½-year high on safe-haven buying in runup to conflict with Iraq.

December, 2003 - January, 2004 - Gold breaks above $400, reaching levels last traded in 1988. Investors increasingly buy gold as risk insurance for portfolios.

November, 2005 - Spot gold breaches $500 for the first time since December, 1987, when spot hit $502.97.

May 12, 2006 - Gold prices peak at $730 an ounce, the highest level since January, 1980, with funds and investors pouring money into commodities on a weak dollar, firm oil prices and political tensions over Iran's nuclear ambitions.

June 14, 2006 - Falls 26% to $543 from its 26-year peak after investors and speculators sold out of commodity positions.

Jan. 2, 2007 - Gold breaks above its record high to trade at $859.30 per ounce

Zdroj: commodityonline.com

12.01.2008

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value."   Alan Greenspan