Next to oil, the commodity price most often mentioned in news broadcasts is certainly the price of gold. For thousands of years, gold has been the most widely used store of value. Until a few decades ago, many currencies were gold-backed and therefore derived their value from the value of the precious metal. Even today, large amounts of gold are held by central banks around the world. In particular, the export-strong nations in Asia have been able to significantly expand their stocks in recent decades. Industrial applications for gold are primarily found in the jewelry and electronics industries. The price of the fine ounce of gold experienced a significant price increase in recent years.
Trade data on Gold
Product symbol: GC
Trade: CME GROUP (CME Globex, CME ClearPort, Open Outcry / New York)
Contract size: 100 troy ounces
Trade price: USD and cents per troy ounce
Minimum trade movement: 0.10 USD per troy ounce
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