How can gold be both a currency and a commodity? Isn't this a contradiction? Print
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Friday, 12 March 2010 13:10

The World Gold Council states, "for most of history, currencies have been backed by commodities, or metals were used as money directly. Even today, when national currencies are no longer backed by real assets, gold maintains its value as an independent, international currency but at the same time is used as a commodity, and certainly viewed as a commodity, by many investors around the world. Gold’s ability to play this dual role successfully underpins its usefulness to investors."

Last Updated on Friday, 12 March 2010 13:28