Gold, the best choice for long term trading

The gold was considered the most precious metal in many cultures and had been used for coinage, jewelry, and other art objects since the beginning of history. The extremely rare combination of features like shine, softness, density and malleability made gold so valuable. Experts estimate that over 161,000 tons of gold have been mined in human history as of 2009.

Gold is now used, besides jewelry and art objects in medicine, food and drink, industry, chemistry and electronics. The countries that are known as major gold producers include South Africa (272 tons in 2007) and China (272 tons also in 2007). Other major gold producers include United States, Australia, Russia and Peru.

In early 1900 United States government linked the dollar to gold setting the value of dollar to one troy ounce equal to $20.67 ($664.56/kg). In 1975 the price of gold was finally left to freely fluctuate. Since then, the gold price fluctuated between a low of $252.90/oz ($8,131/kg) on June 21, 1999, and a high of $1023.50/oz ($32,900/kg) on March 17, 2008. A new record was set at the beginning of December 2009, gold reaching a price of $1,215 per ounce.

In the current financial situation, gold was one of the best choices for long term investments and trading. For now the gold price is still on a growing trend. If you are interested in trading gold, Etoro, Ava FX and Finexo are three major Forex brokers where you can trade it.