Since centuries, gold has been considered safe to be traded worldwide. Centuries ago ,gold has been used as currency as well as ornaments. Ancient discoveries of gold inspired craftsmen to use it as ornaments. They considered it as symbol of wealth and power. King Croesus of Lydia(presently Turkey) issued first pure gold coins during 547 and 560 BC.Since that time gold coins have been used as legal tender.
The estimates reveal that 158,000 tones of gold has been mined of which 65% has been mined in 1950.The exploration had downward trend since 2001.The major gold holders are Central banks for more than 100 years. They have 20% stock of told mined asset. The world’s total official gold estimates till 1913 are 8100 tones. Central banks have accumulated heavy amount of gold to back the currency.
Antique lovers invest in gold .Chinese investors are purchasing gold for stable and secure profits. It is becoming status symbol in China. China is now leading South Africa since 2007 and India since 2009 in gold production and consumption.
Now in 2010,Gold bullion is being considered the low risk investment.Stated policies of number of central banks as well as Federal Reserve consider Gold the safest for investors.’s five point plan to fight deflation includes “revaluing gold higher”.
Central Banks across Asia have ten-year gold buying program that reveals the demand of gold in coming years.
All the facts now favor the safe investment in Gold in coming years. How does the investor’s crave rise gold prices is worth seeing ahead.