An attractive and highly valued metal, gold has been known for at least 5000 years. Gold is sometimes found free in nature but it is usually found in conjunction with silver, quartz , zinc, calcite and lead. Gold is soft and malleable of all metals and is usually alloyed with other metals to make it harder. One karat is equal to one part in twenty-four, so an 18 karat gold ring contains 18 parts pure gold and 6 parts alloy material.
Gold is element 79 and its symbol is “Au”. It is both a Metal and a Currency in the Forex market and quoted against the dollar and the INR. Find quotes in Eforex India as XAU/USD & XAU/INR.
While business sectors including dentistry, electronics, and jewellery use gold in their products, there is simply not enough commercial demand to explain the very high price markets assign to the yellow metal. Since the beginning of civilization, humankind has viewed gold as a proxy for money and a safe-haven asset. So typically when economies are in distress and investors lose confidence in the US Dollar, they buy gold. In India, gold is the preferred investment by all strata of society due to its social and mortgageable property and will always buy a buyer on dips. This reality has made it one of the most fascinating commodity with its enduring value, storable property and everlasting qualities.
Eforex India quotes prices of Gold as per the London Metal Exchange (LME) against the USD and can be used for benchmarking and hedging purposes. We also give API of the prices of all Metals which can be integrated to your software for pricing and valuation. Exporters, importers and those in the gold & bullion value chain needs to manage their hedging by proper Risk management techniques and value it Marked to Market (MTM) hedged with gold futures on a daily basis to manage their portfolio.