GOLD IS OLD.

Gold is old. by: A.J.Raval.
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l. The World Population was:-
30 Crores in the 1st Century.AD.
50 Crores in the 1650 AD.
600 Crores in the 2000 AD.
2. After UncleSam, China will rule the World. Alpha to Omega.
3. All these years, Leaders did lot of begging,
And little in the direction of Nation-building.
4. " Money is not everything in life."
You cannot make this statement without it.
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Gold (element symbol Au), atomic weight 197, valency 1.3 is one of the
heaviest metals; yet it is soft and ductible. An ounce (28 gms.) of gold
can make 187 sq.ft (17 sq.mt.) of thin gold leaf. It is durable and indestructible.
It does not tarnish or corrode. Examples of gold workmanship is seen
in Italy, Velenza jewelery for its antique fashioned ornaments of kind
and purity. Indian craftsmanship is famous. Indian jewelery has no
authenticity in terms of purity of gold. Therefore UAE has rehabilitated
Indian goldsmiths in Dubai Abudabhi Sarjah and gold jewellery is prepared
under strict supervision. Dubai has turned these days a centre of purchase
of gold jewelery.
Half of the world stock of gold is originated from South Africa.
Rest is divided among Russia Canada Australia Brazil and USA.
In Europe in the forteenth century, it was believed that in India gold
was as cheap as pig iron. Emeralds rubies diamonds jewels gems
sapphire were as plentiful as pebbles on a sea-shore. Gold Gates
were seen in almost all temples and places of worship. This belief
led the European explorers of Spain France Dutch England to find
out the route to reach India. Many explorations took place in different
directions. Columbus reached Bahama and then found present America.
Vasco-de-Gama finally reached Calicut and the English landed at Surat.
Aluvial gold refers to gold found in riverbeds streambeds and flood-plains.
In the river-bed of Congo river in Africa the river sand contains granules of
gold. Strict security is observed over the staff engaged in sand processing.
It is reported that workers bring such sand in match box in their pockets.
The security staff has also learnt to bring a match box filled with river sand.
Such match boxes are given to the Innkeeper in exchange of a heavy lunch.
Native gold is found in form of nuggets as large as half an inch in diameter
and on some occasions nuggets of native gold upto 50 kgs. are found. The
record is of 92 kgs. of largest nugget found in South Africa. Native gold
also contains some portion of silver.
Gold is evaluated in terms of a medium, a measure, a standard, a store
by the world countries. A country is known by the stock of gold lying in
its strong-rooms. It is a colletaral in terms of international trade. As per the
IMF reports France possess largest stock of gold as foreign reserves. Then
comes Germany. It is followed by Italy, USA UK Canada Russia and Japan.
In the list of G-8 countries Japan has lowest gold and natural resources.
There is International Gold Standard of Payment and Exchange. If demand for
Euro currency exceeds the demand for dollar currency, for the Euro, dollar
price will rise in international market. The US $ is defined as 23.22
grains of pure gold. The British pound is defined as 113 grains of pure gold.
Thus one British pound would equal 4.9 US $ at official parity. The public is not
authorised to exchange dollars for gold. Only foreign Central Banks can do so.
Two-tier gold system is adopted by world countries to protect international
monetary reserves from the pressure of high gold prices. The monetary gold
used as reserve would sell at a fixed price, and gold kept as selling commodity
would sell at fluctuating market price. The official Gold stock of a country has
to be maintained at the existing level; only to be transferred among countries
as pledge in settling international debts. India transferred huge quantity of gold
to London and Switzerland Banks in 1991 as pledge to settle debt of crude oil import.
Advantages of the gold standard are that it prohibits the countries to cause
price inflation by excessive issue of paper currency. It also creates certainty
in international trade by providing a fixed pattern of exchange rates.
It will be interesting to note that Tokyo Exchange of Japan as of today accounts
for ninety percent of security transactions. As the economic growth of Japan has
continued, Tokyo Stock Exchange became world's largest Security Exchange
overtaking the NewYork Exchange.
Similarly Gold Bullion Market, once World's largest is now operated by the
Chinese Gold and Silver Exchange at HongKong. There are no Foreign Exchange
controls rules and regulations of currency exchange in HongKong. As of
today in China and in China influenced countries, silver has remained the
dominant standard. Elsewhere in the world, the gold standard reigns.

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