Gold is the most malleable and ductile metal. An ounce of gold and can be worked into a wire 35 miles long. After the silver is the best conductor of heat and electricity, but unlike silver is very resistant to oxidation: making gold one of the most inert metals that are in nature.
The earth's crust contains an average of 0.0001% gold. This finding explains why gold is a very complicated thing. It can be either too dispersed in the environment or it may be too deep and it is also difficult to separate it from the rock that contains it. Finding a gold layer
costs many millions of dollars when you consider that not all attempts are successful. Only studies Feasibility costing tens of millions of dollars in the case of larger fields. Then take years to build the mine, and the cost ranges from a minimum of $ 10 million to a maximum of one billion dollars.
addition to the classic we all know uses (jewelry, coins, etc.. Etc..), Gold is also an industrial metal.
The industrial demand for gold is around 450 tonnes a year. The industrial applications of gold are numerous and growing. Among the most important are that gold can be used as a catalyst for building and decorating items, electronics and electronic applications in nanotechnology, applications Dental and biomedical.
The offer from gold mining is extremely inelastic (does not depend almost nothing on the market price of gold).
The offer comes from scraps of gold (scrap, recycled parts, jewelry melted down and put back on the market) is rather elastic. If the price of gold salt increases the supply of scraps.
Turning to the question, we must remember that gold demand in the jewelry sector is very flexible: if the salt lowers the price of gold jewelry demand.
The industrial demand, however, is relatively inelastic.
Gold can not be considered a simple MP. Gold is something more and different from a mere MP.
In fact, throughout human history, gold has represented the most simple, safe and convenient to keep the wealth produced or acquired by humans. The gold is essentially money. Even the gold jewelry were born for this reason: to carry their own wealth and avoid having to conceal the risk of losing it. Every time he reappeared
crisis or global stability of financial markets, the gold back to be the subject of interest from investors.
gold futures are treated the Comex, a division of the Nymex, CBOT and the New York to Chicago.
Description
contract
Name: Oro (gold) contract signed
GC
Months expiration: February, April, June, August, October, December,
Stock Exchange: COMEX, Commodity Exchange of New York
Example: from 850.00 to 851 , 00 = $ 100
minimum price variation (tick) 0.10
Tick Value: $ 10
trading hours: Electronic: from 6:00 p.m. - At 5:15 p.m. NY hours, Dom-Fri.
Cries from 8:20 a.m. at 1:30 p.m. NY hours, Mon.-Fri.
contract size: 100 oz contract
Quote: dollars and cents per ounce
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