The Price of Gold

Gold is one the rise and in the news due to the value of gold measured against the weakening dollar. While the value of paper money changes when used to purchase gold, the value of gold does not change much.

Gold is measured by ounce when measured against dollars. This measurement is general for most countries. When referring to jewelry, gold is generally measured as price per gram.

For almost 200 years the price of gold remained steady, falling between 19 and 38 dollars an ounce. But, in the past 30 years, gold has risen and fallen drastically. However, in the past ten or so years it has started to level out and become steady again. But why the change in price? Is it due to economic changes with people losing faith in their country's currency? Or are people moving toward having something more solid and tangible than a paper currency?

With the demand for gold on the rise, it shows the people's confidence in the stable value of gold.