Gold’s history as a currency value dates back over 5,000 year ago. Gold was initially used to forge and mint coins. Gold dust was also used as a payment method. Some countries began using Au as a temporary currency because of the rise in global production. Later, a gold-standard was established, where money is pegged to a fixed quantity of gold.
After the abolishment of the gold standard, the gold standard’s role as the primary payment instrument has been lost. In its place is paper fiat money, and cryptocurrencies. Today, Au is an investment instrument used as a safe haven… Read full author’s opinion and review in blog of #LiteFinance
Continue reading…
