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Gold has both a special and dark past, although many without knowledge consider gold to be nothing more than a relic of past times, or a want in terms of jewellery and other specially made items, gold as a commodity is still flourishing in modern society, and still plays a pivotal role in economics globally. As the dark past history fades, a modern day darkness appeared, in the form of gold on credit or unallocated gold contracts, essentially an IOU notice with no true physical bullion backed behind it, not proof that the physical bullion it supposedly represents actually exists. These contracts were traded for more than a decade, and still continue today, although it is believed their peak influence ended during the gold and silver spot price collapse in 2013. This kind of trading has caused speculation on the market much like modern day currency exchanges, resulting in very much the same outcome.

Although gold being a physical commodity can never loose all value, unlike stocks and currency, it can be manipulated on the stock exchange if one has enough influence. While we hope this kind of manipulation is a thing of the past, the current day value of Gold and Silver compared to it’s rarity and competition (stocks and fiat currency) shows that Gold and Silver are, if anything in the current marketplace, still far undervalued. If the true value of Gold and Silver is ever to be realised, then it will be a very good day for holders of the physical precious metals.

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Gold News Australia