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Gold is traded in USD because the U.S. dollar is the world’s primary reserve currency, making it widely trusted and accessible. This practice began after World War II when the Bretton Woods Agreement linked the dollar to gold, setting a global standard. Even after the gold standard ended, the habit stuck due to the dollar's stability and its dominant role in international trade, keeping it the go-to currency for valuing commodities like gold.
What else can I help you with?
What is a ounce of 10k gold w?
Gold is traded as a commodity. It's value fluctuates on a daily basis. That said, an ounce of gold is currently traded for about $1700 USD. 10 karats is not the quality that is traded, so it will be worth less than that. I'd estimate it'd be worth about a thousand USD. But I wouldn't pay a dime for it as it has very little functional use because we humans like how shiny it is and wear it as a stupid status symbol.
What resources were traded in ghanas empire?
The things that were traded were gold and salt
What was the Silk traded for?
Silk was traded for... i think gold :)
what are gld exchange traded funds?
Gold exchange traded funds tracks the price of gold they are also traded on major stock exchanges.
How is gold traded?
well you trade gold for money
What resources were traded Ghana's empire?
The things that were traded were gold and salt
What were the primary commodities traded by the people of Ghana?
they traded salt for gold
How much is 4.4 grams of gold worth?
$257 USD in 2012 with gold @ $1600 USD per ounce
How has gold affected mankind?
Gold has helped mankind because it helped people earn money when they traded the gold for other valuable things such as gold was traded for salt and silk etc
What was silk traded for?
the Chinese traded silk for gold, silver and precious pebbles.
What are the things Da Gama traded?
he traded unfancy, cheap silk, for their gold
What was traded for gold in Africa?
salt
