Location Of The Major Gold Exchanges In The World

The reaction combination of gold with various other elements makes it the strongest element. Gold is acquired in almost the same nature all around the world. The natural worth of gold is greater than its actual worth. The worth of this precious metal will never decline in fact it will keep on increasing with the passage of time.

There is some sort of gold investment in every country’s exchange all around the globe. The two most recognized and significant exchange centers of the world are in New York and London. COMEX which is the division of New York Mercantile Exchange (NYMEX) is the foremost gold exchange of United States. In the beginning only the local citizens were allowed to exchange in gold, but after a span of 40 years, everyone from all across the globe was authorized to deal in gold exchange. London is another massive gold exchange where gold fixings take place. Besides London and New York, TOCOM is another major commodity exchange situated in Tokyo, Japan. The operations for this company were initiated on 23rd March 1982. CBOT also known as Chicago Board of Trade was initiated on 20th February 1979.

SPDR Gold Shares are an innovative way for investors to invest in gold. Besides being cost efficient, this also makes the gold market accessible to the investor in a secure way. SPDR shares were introduced for the first time in the New York Stock Exchange in 2004. This is one of the fastest growing investment mediums and is now also traded on exchanges like the Tokyo Stock Exchange, Hong Kong Stock Exchange, and the Singapore Stock Exchange.

When it comes to digital currency, which is also called e-currency, The London Gold Exchange is the largest and also the most reputable and established trader in the world. Digital currency includes commodities like digital gold and silver. The London Gold Exchange also has its offices in the European as well as the Asia Pacific Region.

These are the names of the world’s largest gold producing countries. South Africa is the leading gold producer which has 16 % of annual world gold production, followed by the United States who has 12% of gold production, then Australia with 11 % and then comes China with a percentage of 7% of its gold production. Gold prices go higher when the economy of the country is not good or you can say in crisis time. Gold is not only used as a means of exchange but is also a store value against inflation. Gold exchange has been created for centuries and plays a prominent role in economic strategy of a country. Gold mining plays a vital role in the economy of a country and it is recorded as it accounts for two thirds of global gold production.

There is also the Dubai Gold and Commodities Exchange which is located in Dubai. Dubai has long been the international hub for trade of different commodities varying from gold and silver, to spices and other items. The Dubai Gold & Commodities Exchange is now the leading exchange in the Middle East for derivatives.

China is the largest buyer of gold at present. The Shanghai Gold Exchange was the first exchange to be founded by the People’s Bank of China and to have gained the approval of the State Council. Some of the other commodities exchanges that trade gold are the Tehran Metals Exchange and also the Tokyo Commodities Exchange.

Dubai is known as the city of gold and is an international place for trading or exchanging gold. No doubt that in years to come, Dubai would play an important role as a gold exchange centre.

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