As other precious metals, gold is measured by troy weight and by grams. And when it is alloyed with supplementary metals the term carat or karat is used to specify the amount of gold present, with 24 carats being pure gold and lower ratings being proportionally less. The purity of a gold bar can also be written as a decimal figure ranging from 0 to 1, known as the millesimal fineness, such as 0.995.
Carat and gold price
Carat is a measure of the purity of gold and platinum alloys. One carat is one twenty-fourth purity by its weight. Thus 24-carat gold is pure gold (99.99%); 12-carat gold is 50% purity, et cetera. In the United States and Canada, the word karat is typically used for the measure of purity, while carat is referring to the measure of mass.
The carat system is gradually more being complemented or superseded by the millesimal fineness system where the purity of precious metals is denoted by parts per thousand of pure metal in the alloy.
The most frequent carats used for gold in bullion, jewellery making and goldsmith are:
The gold prices is determined on the open market, but a procedure recognized as the Gold Fixing in London, originating in 1919; provide a twice-daily benchmark figure to the industry.
The historically gold price
Historically gold was used to back currency in an economic system recognized as the gold standard a certain weight of gold was given the name of a unit of currency. For a long period, the United States government set the value of the US dollar so that one troy ounce was equivalent to $20.67 ($664.56/kg), but in 1934 the dollar was revalued to $35.00 per troy ounce ($1125.27/kg). And by 1961 it was becoming harder to uphold this price, and a pool of US and European banks agreed on manipulating the market to stop further currency devaluation against increased gold demand.
On 17 March 1968, economic conditions caused the collapse of the gold pool, and a two-tiered pricing scheme was established and gold was still used to settle international accounts at the old $35.00 per troy ounce ($1.13/g) but the price of gold on the private market was allowed to rise and fall; this two-tiered pricing system was discarded in 1975 when the price of gold was left to find its free-market level. Central banks still hold historical gold reserves as a store of value even though the level has generally been declining. The biggest gold depository in the world is that of the U.S. Federal Reserve Bank in New York.
Ever since 1968 the price of gold on the open market has ranged widely, with a record high $850/oz ($27,300/kg) on 21 January 1980, to a low $252.90/oz ($8,131/kg) on 21 June 1999 (London Fixing). On 26 April 2006 the London gold fixing was $635.50/oz.
The Price Of Government
Isn't it wonderful to be free? Are you free; truly free? What is true freedom anyway? Is it the freedom to choose a mate, religion, profession or lifestyle? If you're privileged to enjoy all of them, can you honestly say that you feel free? Are you free from stress, abuse, self condemnation and unforgiveness?
The Israelites had been slaves for centuries. They had forgotten what it was to be free like patriarch, Abraham and have the privileges of Joseph, who had the highest honor under Pharaoh.
Once they were set free and saw all the miracles, they went back to the old attitudes and lifestyles they had been used to. They did not know how to handle freedom except by complaining about what they did not have.
God gave Moses the Ten Commandments in order to keep them from completely turning away from God. They had to live by every precept of the law, from circumcision to sacrifices, and what to eat and how to prepare their food. As long as they obeyed the law, they were be blessed. If they did not, they were cursed! (Deut. 28)
But, that was not God's best! He wants you to walk in the freedom of Abraham, in childlike faith. Abraham was not under any law. He knew God and was steadfast in faith until one day he wavered. He decided to give God a hand in bringing his promised son to birth.
Not walking in faith has consequences. God was not pleased. He had promised them a son, and it would not need to make sense. It just required simple, childlike faith! If God said it; then it would come to pass!
Abraham's two sons are representative of the two covenants: Ishmael, the Law of Moses; and Isaac, the New Covenant. The Law was a curse as it required doing works to get God's blessings.
Jesus, Abraham's physical and spiritual heir, became that curse by hanging on the cross, the symbol of a curse. (Gal. 4: 22 - 26) He did it so that all nations would have access to true Freedom through the Holy Spirit. (Gal. 3: 13 - 19) Whosoever believes in Him is free indeed. (John 8: 36)
Do you realize that you are, like Isaac, the spiritual child of Promise? As long as you think and live according to the flesh, you are in bondage to the things of the world.
Once you come to the realization that you "can do all things through Christ who strengthens you," (Phil. 4: 13) you know you're free! When the flesh is weak, the Spirit will help you soar over your problems!
"Stand fast therefore in the liberty wherewith Christ hath made us free. " (Gal. 5: 1) The new Covenant is the perfect law of liberty (Jas. 1: 25)
Pure religion is to show God's Love to those in distress, (Jas. 2: 27) and do His Will from the heart. (Eph. 6: 6)
"But without faith it is impossible to please him; for he that cometh to God must believe that he is and that he is a rewarder of them that diligently seek him." (Heb. 11: 6)
Are you completely free? That is; can you release all your troubles to Him and know without a doubt that what He says in His Word He will do for you?
"Ho, everyone that thirsteth, come ye to the waters, and he that hath no money; come ye, buy, and eat; yea, come. Buy wine and milk without money and without price." (Isa. 55: 1)
I pray that you may know Him, and the power of His resurrection, forget the past, and embrace your freedom in Christ. (Phil. 4: 10; 13)
"My God shall supply all your need according to his riches in glory by Christ Jesus."(Phil. 4: 19)
Both Ian Dennis & Ann Stewart are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Ian Dennis has sinced written about articles on various topics from Women, Marriage and Environment. Find more information about what the is, and what factors determines
An Easy Way To Lose Weight I have found the secret that is often neglected and overlooked in most diets and this program will have you wondering why you didnt try it years ago