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gold Price

Main articles: Gold as an investment and Gold standard

LBMA USD morning price fixings ($US per troy ounce) since 2001
Gold price per ounce in USD since 1968, in actual US$ and 2006 US$Like other precious metals, gold is measured by troy weight and by grams. When it is alloyed with other metals the term carat or karat is used to indicate the amount of gold present, with 24 karats being pure gold and lower ratings proportionally less. The purity of a gold bar can also be expressed as a decimal figure ranging from 0 to 1, known as the millesimal fineness, such as 0.995 being very pure.

The price of gold is determined on the open market, but a procedure known as the Gold Fixing in London, originating in September 1919, provides a daily benchmark figure to the industry. The afternoon fixing appeared in 1968 to fix a price when US markets are open.

The high price of gold is due to its rarity. Only three parts out of every billion (0.000000003) in the Earth's crust is gold.

Historically gold…

The 2008 UK Queen Elizabeth I £5 Gold Proof Coin

A very unique gold coin has been struck by the British Royal Mint. The 2008 UK Queen Elizabeth I £5 Gold Proof Coin.

In 1558 on the 17 of November, Elizabeth, the 25-year-old daughter of Henry VIII and Anne Boleyn, was proclaimed Queen of England. She became one of the longest serving, best-loved and influential English monarchs, whose date of accession remained a national holiday for 200 years.

To celebrate the 450th anniversary of her becoming Queen, the British Royal Mint has struck a rather unique £5 crown featuring on its reverse a portrait of Elizabeth I, by the silversmith Rod Kelly. So we have the only coin in the world with two Queen Elizabeths, Elizabeth the first on the reverse and Queen Elizabeth the second on the obverse

As per the Royal Mint, “...the Queen is crowned and set within a mandorla created by four decorative arches. A Tudor rose has been placed at each connecting point while the two side arches each contain a beautiful leaf pattern reminiscent of the carvings ma…

2008 Year of the Mouse Gold Proof Coin Issue

The Perth Mint have just issued the Australian Lunar Series II 2008 Year of the Mouse Gold Proof Coin Issue from Series II.

These first proof Issue gold coins celebrate the Chinese Lunar Year of the Mouse.

The proof quality is 99.99 percent and the 2008 dated coins are stuck in one ounce, one quarter ounce and one tenth ounce gold coins of 99.99 percent proof quality.

The Mouse Design is on the reverse of each coin and depicts a mouse crouching on a bed of stones with chilli peppers clustered in the background. As well as the inscription 'Year of the Mouse' and the Chinese character for 'mouse', the design also incorporates The Perth Mint's 'P' mintmark.

A prestigious new feature is the larger diameter of each coin, providing extra space for the enchanting artistry of Series II.

As with all the Perth Mint gold coins, this one is issued as legal tender under the Australian Currency Act of 1965 with each coin featuring the Ian Rank-Broadley effigy of Her Majesty …

Gold Sovereigns Celebrating 200 Years of Fine Tradition

To celebrate 200 years of fine tradition of gold sovereigns, the British Royal Mint has issued an impressive two-coin set comprising two magnificent gold sovereigns dated 1948 and 2008

Each coin depicts Benedetto Pistrucci's classic 'St George slaying the dragon' design featured on the reverse.

Product Information
According to the Mint, the 2008 Gold Proof Sovereign depicts St George and the dragon in frosted relief on the reverse. The design stands proud of the brilliant mirror finish achieved by meticulous hand polishing of the die using fine diamond paste.

The obverse carries the familiar portrait of Her Majesty The Queen by Ian Rank-Broadley FRBS.

The 1948 Gold Sovereign depicts St George and the dragon on the reverse and is guaranteed to be in very fine condition. The obverse bears the young effigy of the Queen by Mary Gillick.

Housed in a luxurious walnut veneer presentation case, the coins are accompanied by an individually numbered Certificate of Authenticity, signed by …

Iowa Electronic Markets

From Wikipedia, the free encyclopedia
How it works
Here are examples of contracts that the IEM traded, beginning June 6, 2006, concerning the 2008 US Presidential Election Winner-Takes-All Market. (The contract descriptions came from the IEM site.)
DEM08_WTA
$1 if the Democratic Party nominee receives the majority of popular votes cast for the two major parties in the 2008 U.S. Presidential election, $0 otherwise
REP08_WTA
$1 if the Republican Party nominee receives the majority of popular votes cast for the two major parties in the 2008 U.S. Presidential election, $0 otherwise
On the first trading day in January, 2007, the DEM08_WTA contract sold for 52.2 cents.
At this point, a speculator has a number of options.
1. He can simply buy a number of DEM08_WTA shares and wait for the results of the election. If the Democratic Party nominee receives the majority of popular votes in the 2008 Presidential Election, the speculator would have his contract liquidated and receive $1, for a profit of…

Knowledge market

From Wikipedia, the free encyclopedia

The knowledge economy brings with it the concept of exchanging knowledge-based products and services. However, as discussed by Stewart (1996)[1], knowledge is very different from physical products. For example, it can be in more than one place at one time, selling it does not diminish the supply, buyers only purchase it once, and once sold, it cannot be recalled. Further, knowledge begets more knowledge in a never-ending cycle. Understanding of knowledge markets is beginning to emerge. As would be expected, they are very different in form from traditional markets.
Knowledge markets have been variously described by Stewart (1996)[1], Davenport and Prusak (1998)[2], and Simard (2000) as a mechanism for enabling, supporting, and facilitating the mobilization, sharing, or exchange of information and knowledge among providers and users. This transactional approach assumes that knowledge-based products or services are available for distribution, that some…

Financial market

From Wikipedia, the free encyclopedia
In economics, a financial market is a mechanism that allows people to easily buy and sell (trade) financial securities (such as stocks and bonds), commodities (such as precious metals or agricultural goods), and other fungible items of value at low transaction costs and at prices that reflect the efficient market hypothesis.
Financial markets have evolved significantly over several hundred years and are undergoing constant innovation to improve liquidity.
Both general markets (where many commodities are traded) and specialized markets (where only one commodity is traded) exist. Markets work by placing many interested buyers and sellers in one "place", thus making it easier for them to find each other. An economy which relies primarily on interactions between buyers and sellers to allocate resources is known as a market economy in contrast either to a command economy or to a non-market economy such as a gift economy.
In Finance, Financial mar…