- NEW!
by Suby the Coat on November 21st, 2009
The Gold Standard for currency is long past.
Currency issuing authorities no longer promise to exchange the value of the currency into Gold on demand by the bearer.
Now they simply promise to pay the bearer of the currency 'value' as shown in the denomination of currency.
Gold and currency have been delinked.
.
Still what you say is true. When the dollar becomes cheaper gold gains. Depreciation of the dollar against any currency would mean higher price of gold in the appreciated currency.
.
So even when governments may have officially delinked the value of their currencies from Gold - the general population still links the value of their currencies to Gold.
It is time this behavior is overcome as gold prices are on the rise all the time.
by Eclipse sleeping by moonlight on November 21st, 2009
The price of gold is not linked to the dollar. And neither is the dollar linked to gold. The price of most commodities on the world trade markets is measured in dollars, although there is talk in many countries of switching to the Euro.
Does scrap gold value change from country to country?
by Answerbag Staff on July 14th, 2010
| 1 person likes this
how much oil would an oz of gold buy in 1950 as compared to today?
by Wilber_C on April 12th, 2011
| 1 person likes this
Is the price of gold international?
by Answerbag Staff on June 15th, 2010
| 1 person likes this
Is it true that now is the best time to buy a gold in the US?
by bonezip on December 4th, 2010
| 1 person likes this
Is gold traded by the ounce?
by Answerbag Staff on June 11th, 2010
| 1 person likes this
You're reading As the price of gold is linked to the dollar, if one wanted to change gold into euros, would the value be in accordance with the dollar/euro rate?
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Comments
Thank you Suby.:)+6
by Bohemian is back on November 22nd, 2009