Price Changes
The price trend in gold since 2003 can be seen on this page. The price of gold in grams rubles is calculated daily by the Central Bank of Russia.
Gold is a soft cow, noble metal, yellow. The gold falls to the metals of the platinum group on their chemical properties, and the value of gold is traditionally high, so only 10 per cent of the world ' s gold is used for industrial purposes: as material for electrical contacts in microelectronics, metal rations, pharmacology and dentals. The remaining gold is distributed approximately equally between the reserve stocks of central and commercial banks, private ownership of slits and jewellery.
Gold has long been used by many peoples as money. With the emergence of paper money from gold, the gold course was established by the monetary authorities, depending on the amount of the country ' s gold reserves. With the expansion of production and trade in the twenty-first century and the twenty-first century, paper money was gradually devaluation due to lack of gold, and the course of gold was steadily rising. This continued until 1944, when the Bretton-Wood Agreement left the United States dollar the only currency tied to the fixed-rate gold, and the gold had actually turned from the main to the reserve currency. In 1971, the United States Government unilaterally waived its obligations to maintain the official price of gold in United States dollars. In 1976, when the system of floating exchange rates was introduced, gold was completely dismantled, and gold lost its monetary function and converted from reserve currency into goods. Since then, gold prices have been determined by the volumes of demand and supply in the commodity market.
Currently, the value of gold depends largely on investment demand. In developing countries, such as India and China, the demand for gold is mainly in the form of jewellery. The mechanisms for investing in gold in developed countries are more diverse: the purchase of gold slits, investment coins, the opening of a denominated account or investment in ETF funds.