Gold has played a very big role in financial history, and there is a lot to talk about. \x0d\ When talking about gold, we have to talk about the gold standard system. The time was from 1880 to 1914\x0d\ Gold as Eternal hard currency. When various countries issue banknotes, why do people think your banknotes are worth so much? Will my banknotes become waste paper because you cheated on me?\x0d\The so-called country at that time Just use the law to stipulate how much gold is in my currency. How much gold I have is how much my currency is worth.\x0d\In other words, the banknotes at that time not only had national credit, but also had enough gold behind them. Support. The currency of a country with more gold is valuable, and the currency of a country with less gold is worthless..\x0d\But when the financial crisis comes, everything becomes different.\x0d\Why? Because paper money is really possible It turns into waste paper not because of the decrease in gold. It is because of the impact of the financial crisis. \x0d\ We know that money has an amplifying effect in banks. When your money is stored in the bank, the bank will not really give it to you. If you hide it well, you will lend your money out, so that the money will continue to be magnified. As long as the bank guarantees that there will be enough money to supply you when you come to withdraw money.\x0d\But when people When they want to take money out of the bank, no amount of money can satisfy their requirements, because the bank has already lent their money to others. When the bank cannot allow depositors to withdraw money, the bank collapses. .In this way, all the deposits of this bank will disappear due to failure, and other banks will be affected.\x0d\When a crisis comes, and even the whole world is affected. In order to preserve value, what is the most useful thing? That’s right , is gold.\x0d\So many countries began to buy gold at that time, because gold can flow freely in the gold standard.\x0d\So many big gold holding countries could not accept it. The United Kingdom began to withdraw from the gold standard system first. Then various countries They withdrew one after another.\x0d\The gold standard system came to an end.\x0d\\x0d\Then came the role of gold after World War II.\x0d\We know that the United States was the biggest beneficiary of World War II and its strength was established in the Bretton Woods system. The U.S. dollar was pegged to gold\x0d\That is, one ounce of gold is equal to 35 U.S. dollars.\x0d\But such a system declared bankruptcy again during the unstable economic turmoil in the United States in the 1960s.\x0d\\x0d\Now. On the one hand, gold It is a means of preserving value for natural persons in society. Some people are forced by the pressure of inflation and in order to ensure that their money does not depreciate, they will buy gold. \x0d\ Because gold is valuable no matter what time it is. No Because your banknotes have depreciated, my gold has also depreciated.\x0d\\x0d\On the other hand, that is what we see as the role of gold in the futures market. Gold is also speculated as a product in the futures market, and Because of its rarity and value, it is favored by many people.\x0d\The current price of gold is affected by the fluctuations of these markets.\x0d\\x0d\Gold generally plays such a role in society. I hope it will be helpful to you. .!