As well as other precious metals, gold it is measured by monetary weight and grammes. When it is alloyed with other metals, the term carat or carat is used to specify quantity of a gold component, with 24 carats which are pure gold and lower estimations proportionally less. Cleanliness of a gold bar can be expressed also as decimal number in limits from from 0 to 1, is known as millesimal a subtlety, such as 0.995 being very pure.



The gold price is defined in the open market on known procedure as Gold Installation in London occurring in September, 1919, provides daily reference number of the industry. Installation of day in 1968 has established the price when the American markets have been opened.

The high price of gold occurs because of its rarity. Only three parts from each billion (0.000000003) in a crust of the Earth are gold.

Historically gold was used to provide value of currency; in the economic system known as the gold standard, to certain weight of gold there corresponds the name of a unit of currency. During the long period the government of the United States has established value of US dollar so that one ounce was equal 20.67$ (664.56$/kg), but in 1934 the dollar has been repeatedly estimated 35.00$ for ounce (1125.27$/kg). By 1961 became firmly supported price, and association of the American and European banks has agreed to operate the market to prevent the further devaluation of currency against the increased gold requirement.

On March, 17th, 1968 economic circumstances have caused crash of gold association, and two-tier the estimation scheme has been established, by means of what gold was still used to settle the international accounts in old 35.00$ for ounce (1.13$/g). But the gold price in the private market have allowed to fluctuate. This two-tier estimation system has been left in 1975, when the gold price have left to find its level of the free market. The central banks still hold historical gold reserves as a store of value though level in general decreased. The greatest gold storehouse in the world - storehouse of the American Federal reserve bank in New York which holds approximately 3 % of the gold ever extracted so does loaded as the American Storehouse of the Ingot in Forte Knox.