Over 5,000 years ago, gold was first used as a monetary currency. Initial uses of gold were for the production and maintenance of coins. In addition to that, gold dust was used as a means for payment. Some countries began using Au as a temporary currency because of the rise in global production. A gold standard was later introduced, which pegged money to a fixed amount gold.
Today, gold has lost its role as the principal payment instrument. Instead, paper fiat money and cryptocurrency have replaced it. Today, Au is an investment instrument used as a safe haven… Read full author’s opinion and review in blog of #LiteFinance
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