a summary of the current and historical trends of the value of gold in
different currencies and markets. Gold is a precious metal that is widely used
for jewelry, investment, and industrial purposes. Gold prices are influenced
by various factors such as supply and demand, geopolitical events, inflation,
interest rates, and market sentiment.
5,What is a Gold ETF?
History of gold mining
The price of gold has increased approximately 4,750% since 1935 when
President Franklin D. Roosevelt raised the value of gold to $35 per
ounce1.Gold prices in India are quoted in Indian Rupees (INR) and can also be
converted into other currencies.
India is one of the largest consumers of gold in the world and has a strong
cultural and religious affinity for the metal.Gold prices are also affected by
the performance of other precious metals such as silver and palladium, as well
as the prices of crude oil, stock exchange indices, bonds, and currency
exchange rates.
gold is a precious metal that has been associated with Southeast Asia since
ancient times. The region was known to the Indian merchants of the 1st
millennium BCE as Suvarnabhumi: 'Land of Gold', which is thought to refer to
the mainland, including lower Burma and the Thai Malay Peninsula, and
Suvarnadvipa: 'Islands of Gold', which may correspond to the Indonesian
Archipelago, including Sumatra.
Gold
was also sought after by the Chinese, who were impressed by the quantities of
gold present in the region.
Gold is distributed throughout Southeast Asia in igneous and metamorphic hard rock deposits and in sedimentary placer deposits. Some of the gold producing regions include the Philippines, Sumatra, Borneo, Timor, Malaysia, Thailand, Burma, Vietnam, Laos and Cambodia. Gold first appears in the archaeological record in 400 BCE, at about the same time as iron, semiprecious stone polishing and glass working, suggesting that the techniques of gold extraction and working were introduced to Southeast Asia via Indian and/or Chinese merchants seeking gold ores .
Before looking at the history of gold, let us look at today's gold and silver
price situation.
Today gold price in Chennai
| 19th july 2023 | ||
|---|---|---|
| Chennai 22k | Price | Change's |
| 1 gram 22k | ₹5590 | ₹40🔺️ |
| 8 gram 22k | ₹44,720 |
₹320🔺️ |
| 10 gram 22k | ₹55,900 | ₹400🔺️ |
| 1 kg silver | ₹77,720 | ₹340🔺️ |
| 10 gram silver | ₹820 | ₹6🔺️ |
| 10 gram 24k | ₹61,680 | ₹400🔺️ |
Gold was used for various purposes in Southeast Asia, such as jewellery,
ornaments, ritual objects, currency and trade. Gold was also a symbol of
status, power and prestige for many ancient civilizations and kingdoms in
the region. Some examples of gold artefacts from Southeast Asia include the
Dong Son drums from Vietnam (c. 600 BCE to 200 CE), the Wonoboyo hoard from
Java (c. 9th century CE), the Butuan boat from Mindanao (c. 10th century CE)
and the Bujang Valley beads from Kedah (c. 11th century CE).
I hope this information helps you learn more about the history of gold
mining in Asia.
History of silver mining
Silver was one of the first five elements discovered, along with gold,
copper, lead, and iron, and has been mined for over 6000 years.
Silver jewellery was often associated with special powers by ancient
civilizations; they believed it brought healing powers, good fortune, and
warded off evil spirits.
The word ‘silver’ comes from the Anglo-Saxon word 'seolfor’.
In ancient Egypt, silver was valued much more highly than gold.
Silver gets many mentions in the Bible.
Silver jewellery has a rich and storied history that dates back to ancient Sumeria (modern-day Iraq) around 4000 BCE. From there, the use of silver in jewellery spread to Egypt, Greece, Rome, and beyond.
In many cultures, silver was considered to be a sacred metal, and was often
used in religious ceremonies and rituals.
Silver jewellery became more intricate and ornate as techniques and tools
evolved, with elaborate designs and patterns that reflected the aesthetics
of the time.
Before looking at the history of gold and silver, let's take a look at
today's
gold
and silver prices.
Today gold rate in Madurai
| 19th july 2023 | ||
|---|---|---|
| Madurai 22k | Price | Change's |
| 1 gram 22k | ₹5610 | ₹40🔺️ |
| 8 gram 22k | ₹44,880 | ₹320🔺️ |
| 10 gram 22k | ₹56,100 | ₹400🔺️ |
| 1 kg silver | ₹77,720 |
₹340🔺️ |
| 10 gram silver | ₹820 | ₹6🔺️ |
| 10 gram 24k | ₹61,680 | ₹400🔺️ |
During the Middle Ages, silver jewellery continued to be a popular choice
for both men and women. In Europe, silver was often used to create elaborate
crowns, necklaces, and other pieces for royalty and the wealthy.
In the 19th and early 20th centuries, advances in technology and mass
production techniques made silver jewellery more affordable and accessible
to the general public. Silver jewellery became a popular choice for everyday
wear, with simple and elegant designs that could be worn with a variety of
outfits.
Today, silver jewellery remains a popular choice for people of all ages and
backgrounds. From classic designs that reflect the traditions of ancient
cultures to modern styles that reflect the latest trends in fashion, silver
jewellery continues to evolve and adapt to the changing times.
I hope you enjoyed these facts about the history of silver jewellery. If you
are interested in buying some silver jewellery for yourself or as a gift,
contact me.
There are several ways to invest in gold. You can invest in physical gold such as coins, bullions or jewelry. You can also invest in Gold ETFs (exchange-traded funds) and Gold Mutual Funds. Some of the pieces you may choose to invest in include the 2016 Canadian.25-ouce Gold $10 White Falcon, The Certified American Eagle Gold Coin, the $10 Liberty Gold Coin, the 2018 Royal Canadian Mint 1.25-ounce Silver Eagle with Next, the Morgan Silver Dollar, or the Mercury Dime.
It is recommended that you allocate no more than 10% of your portfolio to gold
investment.
What is a Gold ETF?
Gold ETFs (Exchange Traded Funds) are passive investment instruments that are
based on gold prices and invest in gold bullion. They are essentially
open-ended mutual fund schemes which are based on ever-fluctuating gold
prices. Gold ETFs trade on the cash market of the National Stock Exchange,
like any other company stock, and can be bought and sold continuously at
market prices.
Gold investment is not completely risk-free. The first risk is that the gold
price moves lower in the time you hold the gold, known as market risk. This
becomes less likely over the medium term, as any market volatility is ironed
out. Another risk involved with investment in physical gold is keeping it safe
against the risks of theft, burglary, house breaking etc. Because of such
risks, the investors need to make recurring expenses to hire lockers, buy
insurance etc to ensure safety of the gold possession.
What is a Gold Mutual Fund?
A Gold Mutual Fund is a mutual fund that invests in various forms of gold such
as physical gold, stocks of companies engaged in the business of gold mining
and refining, and gold ETFs. The value of the mutual fund is directly
proportional to the price of gold. Gold mutual funds are managed by
professional fund managers who invest the money collected from investors in
various forms of gold.