This blog is about gold and goldmining. In many places of the world gold can be found, also in China. So this is a site about gold and golden products.
Gold formed the basis for the gold standard used before the collapse of the Bretton Woods system. It is specifically against IMF regulations to base any currency against gold for all IMF member states.
The metal has been known and highly-valued since prehistoric times. It was valued for ornamentation and rituals.
Gold mining consists of the processes and techniques employed in the removal of gold from the ground. There are several techniques by which gold may be extracted from earth and rock.
The usual benchmark for the price of gold is known as the London Gold Fixing, a twice-daily (telephone) meeting of representatives from trading firms.
Furthermore, there is active gold trading based on the intra-day spot price, derived from gold-trading markets around the world as they open and close throughout the day.
Investment in gold can be done directly through bullion ownership, or indirectly through certificates, accounts, spread betting, derivatives or shares.
China is the world’s fifth largest producer of gold. Next to this, in the early twenty-first century China became an important producer and exporter of rare metals needed in high-technology industries.
