Essay - Effects of Gold Rates on USA Economy

Feb 3rd, 2012
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Gold has a unique status in the economic world, a precious medal with wide uses, a store of wealth, and for a long time, the measure of economic power of nations and the cornerstone of international monetary regimes. Good references are added in this document

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Effects of Gold Rates on USA EconomyAssignment 2StudentStudent Name1 Introduction and ObjectivesGold has a unique status in the economic world, a precious medal with wide uses, a store of wealth, and for a long time, the measure of economic power of nations and the cornerstone of international monetary regimes. In recent years, the world witnessed an aggressive growth in gold price (Fei, 2010).Unfortunately, a rising gold price signifies trouble ahead. It's a kind of canary in a coal mine. As more individuals become concerned that their dollars will buy less in the future and exchange them for hard assets, commodity prices such as food and fuel and metals and building materials will continue to rise.Objective of this research paper is to discuss the Factors and reasons that affect the price of gold, analyze the relationship of US dollar and gold price and how it effects on US economy.2 Literature ReviewThere is very little, if any, effect on the economy from the price of gold. If anything, the opposite is usually true: perceptions about the economy can directly affect the price of gold. The usefulness of gold as an economic indicator is questioned by some, but it is still widely recognized as a hedge against the U.S. dollar and as some measure of inflation. (DollarCollapse)2.1 FactorsThe prices and gold also change because of many factors such as currency inflation, aspects which leads to increase in demand and also the function of central banks. If you know

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