XAU/USD (XAUUSD)

Gold has long been used as an investment object, since it is an essential element of the global financial system. This metal does not rust, has many technical application areas, and its reserves are small. World bank reserves according to world gold council amounted to 30,546.1 tonnes at the end of January 2011.

Gold is also used in the industry. Due to the low electric resistance is used in electronics as a material for electrical contacts. Gold is used as a solder for different metallic surfaces, and is used in soldering metal.

The traditional and the largest consumer of gold (54% of demand in 2010) is the jewelry industry. Jewellery not made of pure gold, and alloys of other metals, gold is much superior mechanical strength and durability (silver, copper, zinc, nickel, cobalt, palladium, platinum).

The chemical composition and properties

Gold – yellow metal that has high thermal conductivity and low electrical resistance under normal conditions, it does not react with most acids and forms oxides.

Gold is a soft, malleable and ductile metal. Different shades of gold products are given to using alloys with other metals. Red color or shade is obtained from a copper alloy, a white color is obtained with alloys of nickel, platinum and palladium. The composition of these alloys is expressed breakdown, which indicates the number of parts by weight of the gold alloy 1000 parts. Due to the relatively high volatility of the metal, and the large size of the available leverage the profit potential transactions with gold is very high, but the losses can also be significant. Therefore, it is recommended to trade gold traders with large deposits.