Gold - A Thing of Beauty
FXStreet - Many people look at Gold as a precious metal, beautiful and rare. Gold is sought after by the richest, most powerful, and most influential people in the world. It is tangible and finite, and therefore is used as a storage of value for many. The value of gold was so important during the early 1900s, that the value of the US Dollar was fixed to it. However, the end of the Bretton Woods Agreement in the early 1970s allowed the US Dollar to float versus other currencies worldwide. Still, many countries retain Gold as part of their reserves in the event of an unlikely monetary collapse.