Gold History_Prestige

A brief history of gold

13600 B.C. : Gold is first smelted in ancient Egypt.
23000 B.C. : The Sumer civilization of southern Iraq uses gold to create a wide range of jewelry, often using sophisticated and varied styles still worn today.
32600 B.C. : Egyptian hieroglyphs describe gold as being “more plentiful than dirt”. The earliest known map dates from this time and shows the plan of a gold mine. The first gold jewellery is also seen.
41500 B.C. : Egypt is already a wealthy country, and that gold has been used as an international trade. Sikel gold coins, weighing 11.3 grams, is a standard metrology unit in the Middle East. It includes a natural alloy called "Electrum", about two-thirds of gold and a third of silver.
51350 B.C. : The Babylonians begin to use fire assay to test the purity of gold.
61223 B.C. : Tutankhamun’s funeral mask is crafted using gold.
71200 B.C. : The Egyptians master the art of beating gold into leaf to extend its use, as well as alloying it with other metals for hardness and color variations. They also start casting gold using the lost-wax technique that today is still at the heart of jewelry making. Unshorn sheepskin is used to recover gold dust from river sands on the eastern shores of the Black Sea. After slucing the sands through the sheepskins, they are dried and shaken out to dislodge the gold particles. The practice is most likely the inspiration for the “Golden Fleece”.
81091 B.C. : Little squares of gold are legalized in China as a form of money.
9600 B.C. : The first gold coins are struck in Lydia, Asia Minor. These are a crude mix of gold and silver.
10546 B.C. : The King of Lydia is captured by the Persians, who adopt gold as the main metal for their coins.
11344 B.C. : Alexander the Great crosses the Hellespont with 40,000 men, beginning one of the most extraordinary campaigns in military history and seizing vast quantities of gold from the Persian Empire.
12300 B.C. : Greeks and Jews of ancient Alexandria begin to practice alchemy, the quest of turning base metals into gold. The search reaches its pinnacle from the late Dark Ages through the Renaissance.
1358 B.C. : After a victorious campaign in Gaul, Julius Caesar brings back enough gold to give 200 coins to each of his soldiers and repay all of Rome’s debts.
1450 B.C. : Romans begin issuing a gold coin called the Aureus.
15500 A.D. : The ancient Chinese state of Chu circulates the Ying Yuan, a gold square coin.
16600 A.D. – 699 A.D. : TByzantine empire resumed the mine mining in Central Europe and France, which was an area that has not been touched since the Empire of the Roman Empire.
171066 A.D. : With the Norman conquest, a metallic currency standard is finally re-established in Great Britain with the introduction of a system of pounds, shillings, and pence. The pound is literally a pound of sterling silver.
181250 A.D. – 1299 A.D. : Marco Polo writes of his travels to the Far East, where the “gold wealth was almost unlimited.”
191284 A.D. : Venice introduces the gold Ducat, which soon becomes the most popular coin in the world and remains so for more than five centuries.
201284 A.D. : Great Britain issues its first major gold coin, the Florin. This is followed shortly by the Noble, and later by the Angel, Crown, and Guinea.
211370 A.D. – 1420 A.D. : Mining in Europe becomes so prevalent that mines are almost emptied. This period is known as The Great Bullion Famine.
221377 A.D. : Great Britain shifts to a monetary system based on gold and silver.
231556 A.D. : Georgius Agricola publishes De re Metallica, which describes the fire assay of gold during the Middle Ages.
241700 A.D. : Gold is discovered in Brazil, which becomes the largest producer of gold by 1720, with nearly two thirds of the world’s output. Isaac Newton, as Master of the Mint, fixes the price of gold in Great Britain at 84 shillings, 11 & ½ pence per troy ounce. The Royal Commission, composed of Newton, John Locke, and Lord Somers, recommends a recall of all old currency, issuance of new specie with gold/silver ratio of 16-to-1. The gold price thus established in Great Britain lasted for over 200 years.
251717 A.D. : The UK sets the golden standard system. This means that the currency is hooked with gold in a fixed exchange rate.
261744 A.D. : The resurgence of gold mining in Russia begins with the discovery of a quartz outcrop in Ekaterinburg.
271787 A.D. : First U.S. gold coin is struck by Ephraim Brasher, a goldsmith.
281792 A.D. : The Coinage Act places the United States on a bimetallic silver-gold standard, and defines the U.S. dollar as equivalent to 24.75 grains of fine gold and 371.25 grains of fine silver.
291799 A.D. : A 17-pound gold nugget is found in Cabarrus County, North Carolina, the first documented gold discovery in the United States.
301803 A.D. : Gold is discovered at Little Meadow Creek, North Carolina, sparking the first U.S. gold rush.
311804 A.D. – 1828 A.D. : North Carolina supplies all the domestic gold coined by the U.S. Mint in Philadelphia for currency.
321817 A.D. : Britain introduces the Sovereign, a small gold coin valued at one pound sterling.
331837 A.D. : The weight of gold in the U.S. dollar is lessened to 23.22 grains so that one fine troy ounce of gold is valued at $20.67.
341848 A.D. : John Marshall finds flakes of gold while building a sawmill for John Sutter near Sacramento, California, triggering the California Gold Rush and hastening the settlement of the American West.
351850 A.D. : Edward Hammong Hargraves, returning to Australia from California, predicts he will find gold in his home country in one week. He discovered gold in New South Wales within one week of landing.
361850 A.D. : Edward Hammong Hargraves, returning to Australia from California, predicts he will find gold in his home country in one week. He discovered gold in New South Wales within one week of landing.
371868 A.D. : George Harrison, while digging up stones to build a house, discovers gold in South Africa – since then, the source of nearly 40% of all gold ever mined.
381887 A.D. : A British patent is issued to John Steward MacArthur for the cyanidation process for recovering gold from ore. The process results in a doubling of world gold output over the next twenty years.
391898 A.D. : Two prospectors discover gold while fishing in Klondike, Alaska, spawning the la st gold rush of the century.
401900 A.D. : The Gold Standard Act places the United States officially on the gold standard, committing the United States to maintain a fixed exchange rate in relation to other countries on the gold standard.
411913 A.D. : Federal Reserve Act specifies that Federal Reserve Notes be backed 40% in gold.
421914 A.D. – 1919 A.D. : During the First World War, several countries and countries, including the United States and the United Kingdom have suspended strict golden brain system.
431914 A.D. – 1919 A.D. : A strict gold standard is suspended by several countries, including United States and Great Britain, during World War I.
441925 A.D. : Great Britain returns to a gold bullion standard, with currency redeemable for 400-ounce gold bullion bars but no circulation of gold coins.
451931 A.D. : Great Britain abandons the gold bullion standard.
461933 A.D. : To alleviate the banking panic, President Franklin D. Roosevelt prohibits private holdings of all gold coins, bullion, and certificates
471934 A.D. : The Gold Reserve Act of 1934 gives the government the permanent title to all monetary gold and halts the minting of gold coins. It also allows gold certificates to be held only by the Federal Reserve Banks, putting the U.S. on a limited gold bullion standard, under which redemption in gold is restricted to dollars held by foreign central banks and licensed private users. President Roosevelt reduces the dollar by increasing the price of gold to $35 per ounce.
481942 A.D. : President Franklin D. Roosevelt issues a presidential edict closing all U.S. gold mines.
491944 A.D. : The Bretton Woods agreement, ratified by the U.S. Congress in 1945, establishes a gold exchange standard and two new international organizations, the International Monetary Fund (IMF) and the World Bank. The new standard involves setting par values for currencies in terms of gold and the obligation of member countries to convert foreign official holdings of their currencies into gold at these par values.
501945 A.D. : Gold-backing of Federal Reserve Notes is reduced by 25.5%
511954 A.D. : London gold market, closed early in World War II, reopens.
521961 A.D. : The US government prohibits national holding gold. Belgium, France, Italy, Netherlands, Switzerland, West Germany, and the US Central Bank, and the US Central Bank, and agreed to buy and sell at $ 35.0875 per ounce.
531967 A.D. : South Africa produces the first Krugerrand. This 1- ounce bullion coin becomes a favorite of individual investors around the world.
541968 A.D. : London Gold Market closes for two weeks after a sudden surge in the demand for gold. The governors of the central banks in the gold pool announce they will no longer buy and sell gold in the private market. A two-tier pricing system emerges: official transactions between monetary authorities are to be conducted at an unchanged price of $35 per fine troy ounce, and other transactions are to be conducted at a fluctuating free-market price.
551970 A.D. : The Bell Telephone Lab invented the new equipment to record weak light from the stars, which use gold to collect electrons generated by light, which is ultimately used in hundreds of civilian and military equipment, including home cameras.
561971-73 A.D. : US President Nixon (Richard Nixon) abandons the Bretton Woods Agreement. This means that the U.S. dollar and other global currencies are no longer linked to the value of gold, and the United States can effectively print currency at will.
571971 A.D. : The United States terminated all gold buyers and no longer exchanged the US dollar into gold. According to the "Smithsoni Agreement", the United States will depreciate the US dollar by raising gold's official dollar price to $ 38 per gold balance.
581973 A.D. : On February 13, U.S. devalues the dollar again and announces it will raise the official dollar price of gold to $42.22 per fine troy ounce. Dollar-selling continues, and finally all currencies are allowed to “float” freely, without regard to the price of gold. By June, the market price in London has risen to more than $120 per ounce.
591974 A.D. : Americans permitted to own gold, other than just jewelry, as of December 31.
601975 A.D. : The U.S. Treasury holds a series of auctions at which is accepts bids for gold in the form of 400-ounce bars. In January, 754,000 troy ounces are sold and another 499,500 more in June.
611975 A.D. : Trading in gold for future delivery begins on New York’s Commodity Exchange and on Chicago’s International Monetary Market and Board of Trade. The Krugerrand is launched on to the U.S. Market.
621976 A.D. – 1980 A.D. : IMF sells one-third of its gold holdings, 25 million troy ounces to IMF members at SDR 35/ounce in proportion to members’ shares of quotas on August 31, 1975, and 25 million troy ounces at a series of public auctions for the benefit of developing member countries.
631978 A.D. - 1980 A.D. : U.S. Treasury sells 15.8 million troy ounces of gold to strengthen the U.S. trade balance.
641978 A.D. : Amended IMF articles are adopted, abolishing the official IMF price of gold, gold convertibility and maintenance of gold value obligations; gold is eliminated as a significant instrument in IMF transactions with members; and the IMF is empowered to dispose of its large gold holdings. By Act of Congress, the U.S. abolishes the official price of gold. Member governments are free to buy and sell gold in private markets.
651979 A.D. : The Canadian 1-ounce Maple Leaf is introduced.
661980 A.D. : Gold reaches intra-day historic high of $870 on January 21 in New York and by year-end closes at $591.
671982 A.D. : The US Congress adopted the "Olympic Commemorative Coin Law", since 1933, the first legal US gold coin was launched.
681982 A.D. : U.S. Gold Commission report recommends no new monetary role for gold, but supports a U.S. gold bullion coin. New gold deposits are discovered in North America and Australia. Canada introduces the fractional Maple Leaf coins in sizes of 1/4 ounce and 1/10 ounce. China introduces the Panda bullion coin.
691986 A.D. : The first new gold jewelry alloy this century, 990- Gold (1% titanium) is introduced to meet the need for an improved durability of 99% pure gold traditionally manufactured in Hong Kong. The very malleable alloy is easily worked into intricate design, but can be converted into a hard, durable alloy by simply heating it in an oven. The American Eagle Gold Bullion Coin is introduced by the U.S. Mint. Treasury resumes purchases of newly mined gold.
701987 A.D. : British Royal Mint introduces the Britannia Gold Bullion Coin. World stock markets suffer sharp reversal on October 19; volatile investment markets increase gold trading activity. The World Gold Council is established to sustain and develop demand for the end uses of gold.
711988 A.D. : The international media report huge gold purchases by a “mystery” buyer, later reveled to be the Japanese government in preparation for the minting of a major commemorative coin. This coin, honoring the sixtieth anniversary of Emperor Hirohito’s reign, is issued in November.
721989 A.D. : Austria introduces the Philharmoniker bullion coin.
731990 A.D. : United States becomes the world’s second largest gold producing nation.
741993 A.D. : Germany lifts its value added tax restrictions on financial gold, causing a resurgence of private demand of gold. India and Turkey liberalize their gold markets.
751994 A.D. : Russia formally establishes a domestic gold market.
761997 A.D. : Congress passes Taxpayers Relief Act, allowing US Individual Retirement Account holders to buy gold bullion coins and bars for their accounts as long as they are of a fineness equal to, or exceeding, 99.5% percent gold.
771999 A.D. : The Euro, a pan-European currency, is introduced, backed by a new European Central Bank holding 15% of its reserves in gold.
782010 A.D. : World Bank president advocates a return to the gold standard to help combat floating exchange rates.

In the past half century, financial events and economic crises of various scales have occurred. After the Bretton Woods system collapsed in 1971, the world experienced two oil crises. Since then, gold has its first super bull market in the 1970s. During this period, the price of gold soared more than 20 times.

However, since the 1980s, gold has fallen into a long bear market for nearly 20 years. However, although the debt crisis in Latin America, the real estate bubble in Japan, and the Asian financial turmoil have occurred during this period, the price of gold has not risen again due to this.

In the millennium 2000, the world began to enter a cycle of low interest rates. Following the 9/11 terrorist attacks, the financial tsunami and the European debt crisis, the price of gold began to pick up its upward momentum, and in 2008 it broke through US$1,000 for the first time, and then further broke the top strongly. In September 2011, the price of gold pushed for 1920 per ounce. U.S. dollars.

However, as the price of crude oil plummeted from 2014 to 2016 and the economic crisis in emerging markets broke out, the upward momentum of gold prices was once again interrupted.
792020 A.D. : the global spread of new crown pneumonia, the price of gold hit a record high, reaching US$2,075.

Disclaimer

Investment School

A brief history of gold

13600 B.C. : Gold is first smelted in ancient Egypt.

23000 B.C. : The Sumer civilization of southern Iraq uses gold to create a wide range of jewelry, often using sophisticated and varied styles still worn today.

32600 B.C. : Egyptian hieroglyphs describe gold as being “more plentiful than dirt”. The earliest known map dates from this time and shows the plan of a gold mine. The first gold jewellery is also seen.

41500 B.C. : Egypt is already a wealthy country, and that gold has been used as an international trade. Sikel gold coins, weighing 11.3 grams, is a standard metrology unit in the Middle East. It includes a natural alloy called "Electrum", about two-thirds of gold and a third of silver.

51350 B.C. : The Babylonians begin to use fire assay to test the purity of gold.

61223 B.C. : Tutankhamun’s funeral mask is crafted using gold.

81091 B.C. : Little squares of gold are legalized in China as a form of money.

9600 B.C. : The first gold coins are struck in Lydia, Asia Minor. These are a crude mix of gold and silver.

10546 B.C. : The King of Lydia is captured by the Persians, who adopt gold as the main metal for their coins.

11344 B.C. : Alexander the Great crosses the Hellespont with 40,000 men, beginning one of the most extraordinary campaigns in military history and seizing vast quantities of gold from the Persian Empire.

12300 B.C. : Greeks and Jews of ancient Alexandria begin to practice alchemy, the quest of turning base metals into gold. The search reaches its pinnacle from the late Dark Ages through the Renaissance.

1358 B.C. : After a victorious campaign in Gaul, Julius Caesar brings back enough gold to give 200 coins to each of his soldiers and repay all of Rome’s debts.

1450 B.C. : Romans begin issuing a gold coin called the Aureus.

15500 A.D. : The ancient Chinese state of Chu circulates the Ying Yuan, a gold square coin.

16600 A.D. – 699 A.D. : TByzantine empire resumed the mine mining in Central Europe and France, which was an area that has not been touched since the Empire of the Roman Empire.

171066 A.D. : With the Norman conquest, a metallic currency standard is finally re-established in Great Britain with the introduction of a system of pounds, shillings, and pence. The pound is literally a pound of sterling silver.

181250 A.D. – 1299 A.D. : Marco Polo writes of his travels to the Far East, where the “gold wealth was almost unlimited.”

191284 A.D. : Venice introduces the gold Ducat, which soon becomes the most popular coin in the world and remains so for more than five centuries.

201284 A.D. : Great Britain issues its first major gold coin, the Florin. This is followed shortly by the Noble, and later by the Angel, Crown, and Guinea.

211370 A.D. – 1420 A.D. : Mining in Europe becomes so prevalent that mines are almost emptied. This period is known as The Great Bullion Famine.

221377 A.D. : Great Britain shifts to a monetary system based on gold and silver.

231556 A.D. : Georgius Agricola publishes De re Metallica, which describes the fire assay of gold during the Middle Ages.

251717 A.D. : The UK sets the golden standard system. This means that the currency is hooked with gold in a fixed exchange rate.

261744 A.D. : The resurgence of gold mining in Russia begins with the discovery of a quartz outcrop in Ekaterinburg.

271787 A.D. : First U.S. gold coin is struck by Ephraim Brasher, a goldsmith.

281792 A.D. : The Coinage Act places the United States on a bimetallic silver-gold standard, and defines the U.S. dollar as equivalent to 24.75 grains of fine gold and 371.25 grains of fine silver.

291799 A.D. : A 17-pound gold nugget is found in Cabarrus County, North Carolina, the first documented gold discovery in the United States.

301803 A.D. : Gold is discovered at Little Meadow Creek, North Carolina, sparking the first U.S. gold rush.

311804 A.D. – 1828 A.D. : North Carolina supplies all the domestic gold coined by the U.S. Mint in Philadelphia for currency.

321817 A.D. : Britain introduces the Sovereign, a small gold coin valued at one pound sterling.

331837 A.D. : The weight of gold in the U.S. dollar is lessened to 23.22 grains so that one fine troy ounce of gold is valued at $20.67.

341848 A.D. : John Marshall finds flakes of gold while building a sawmill for John Sutter near Sacramento, California, triggering the California Gold Rush and hastening the settlement of the American West.

351850 A.D. : Edward Hammong Hargraves, returning to Australia from California, predicts he will find gold in his home country in one week. He discovered gold in New South Wales within one week of landing.

361850 A.D. : Edward Hammong Hargraves, returning to Australia from California, predicts he will find gold in his home country in one week. He discovered gold in New South Wales within one week of landing.

371868 A.D. : George Harrison, while digging up stones to build a house, discovers gold in South Africa – since then, the source of nearly 40% of all gold ever mined.

381887 A.D. : A British patent is issued to John Steward MacArthur for the cyanidation process for recovering gold from ore. The process results in a doubling of world gold output over the next twenty years.

391898 A.D. : Two prospectors discover gold while fishing in Klondike, Alaska, spawning the la st gold rush of the century.

401900 A.D. : The Gold Standard Act places the United States officially on the gold standard, committing the United States to maintain a fixed exchange rate in relation to other countries on the gold standard.

411913 A.D. : Federal Reserve Act specifies that Federal Reserve Notes be backed 40% in gold.

421914 A.D. – 1919 A.D. : During the First World War, several countries and countries, including the United States and the United Kingdom have suspended strict golden brain system.

431914 A.D. – 1919 A.D. : A strict gold standard is suspended by several countries, including United States and Great Britain, during World War I.

441925 A.D. : Great Britain returns to a gold bullion standard, with currency redeemable for 400-ounce gold bullion bars but no circulation of gold coins.

451931 A.D. : Great Britain abandons the gold bullion standard.

461933 A.D. : To alleviate the banking panic, President Franklin D. Roosevelt prohibits private holdings of all gold coins, bullion, and certificates

481942 A.D. : President Franklin D. Roosevelt issues a presidential edict closing all U.S. gold mines.

501945 A.D. : Gold-backing of Federal Reserve Notes is reduced by 25.5%

511954 A.D. : London gold market, closed early in World War II, reopens.

521961 A.D. : The US government prohibits national holding gold. Belgium, France, Italy, Netherlands, Switzerland, West Germany, and the US Central Bank, and the US Central Bank, and agreed to buy and sell at $ 35.0875 per ounce.

531967 A.D. : South Africa produces the first Krugerrand. This 1- ounce bullion coin becomes a favorite of individual investors around the world.

551970 A.D. : The Bell Telephone Lab invented the new equipment to record weak light from the stars, which use gold to collect electrons generated by light, which is ultimately used in hundreds of civilian and military equipment, including home cameras.

561971-73 A.D. : US President Nixon (Richard Nixon) abandons the Bretton Woods Agreement. This means that the U.S. dollar and other global currencies are no longer linked to the value of gold, and the United States can effectively print currency at will.

571971 A.D. : The United States terminated all gold buyers and no longer exchanged the US dollar into gold. According to the "Smithsoni Agreement", the United States will depreciate the US dollar by raising gold's official dollar price to $ 38 per gold balance.

591974 A.D. : Americans permitted to own gold, other than just jewelry, as of December 31.

601975 A.D. : The U.S. Treasury holds a series of auctions at which is accepts bids for gold in the form of 400-ounce bars. In January, 754,000 troy ounces are sold and another 499,500 more in June.

611975 A.D. : Trading in gold for future delivery begins on New York’s Commodity Exchange and on Chicago’s International Monetary Market and Board of Trade. The Krugerrand is launched on to the U.S. Market.

621976 A.D. – 1980 A.D. : IMF sells one-third of its gold holdings, 25 million troy ounces to IMF members at SDR 35/ounce in proportion to members’ shares of quotas on August 31, 1975, and 25 million troy ounces at a series of public auctions for the benefit of developing member countries.

631978 A.D. - 1980 A.D. : U.S. Treasury sells 15.8 million troy ounces of gold to strengthen the U.S. trade balance.

651979 A.D. : The Canadian 1-ounce Maple Leaf is introduced.

661980 A.D. : Gold reaches intra-day historic high of $870 on January 21 in New York and by year-end closes at $591.

671982 A.D. : The US Congress adopted the "Olympic Commemorative Coin Law", since 1933, the first legal US gold coin was launched.

701987 A.D. : British Royal Mint introduces the Britannia Gold Bullion Coin. World stock markets suffer sharp reversal on October 19; volatile investment markets increase gold trading activity. The World Gold Council is established to sustain and develop demand for the end uses of gold.

711988 A.D. : The international media report huge gold purchases by a “mystery” buyer, later reveled to be the Japanese government in preparation for the minting of a major commemorative coin. This coin, honoring the sixtieth anniversary of Emperor Hirohito’s reign, is issued in November.

721989 A.D. : Austria introduces the Philharmoniker bullion coin.

731990 A.D. : United States becomes the world’s second largest gold producing nation.

741993 A.D. : Germany lifts its value added tax restrictions on financial gold, causing a resurgence of private demand of gold. India and Turkey liberalize their gold markets.

751994 A.D. : Russia formally establishes a domestic gold market.

761997 A.D. : Congress passes Taxpayers Relief Act, allowing US Individual Retirement Account holders to buy gold bullion coins and bars for their accounts as long as they are of a fineness equal to, or exceeding, 99.5% percent gold.

771999 A.D. : The Euro, a pan-European currency, is introduced, backed by a new European Central Bank holding 15% of its reserves in gold.

792020 A.D. : the global spread of new crown pneumonia, the price of gold hit a record high, reaching US$2,075.