Jan 28

HOW LONG HAS GOLD BEEN TRADED AS A COMMODITY?

Posted in Commodities

Boyfriend asked out of curiosity, couldn’t find the answer online. Thanks in advance if you know :) And please quote sources/sites if you find it online.

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2 Responses to “HOW LONG HAS GOLD BEEN TRADED AS A COMMODITY?”

  1. hsmeilop says:

    http://en.wikipedia.org/wiki/Gold_Fixing

    The first fixing took place on 12 September 1919 amongst the five principal gold bullion traders and refiners of the day: N M Rothschild & Sons, Mocatta & Goldsmid, Pixley & Abell, Samuel Montagu & Co. and Sharps Wilkins. The gold price then was four pounds 18 shillings and ninepence (GBP 4.9375) per troy ounce.

    This means that GOLD has been traded as a commodity much earlier than 1919. But this is the first time when all gold traders agreed on a price.

  2. I. B. Zoxx says:

    As anyone who has seen or heard about the incredible treasures of Tutankhamen probably knows, Ancient Egypt left a rich legacy of gold. Hieroglyphs stretching back to 2600 BC describe gold, which was considered by the ancient Egyptians to be a divine and indestructible metal, and was associated with the brilliance of the sun. Ancient Egyptians even believed the skin of their gods was golden.



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