| Back in 1980 the Western economies were hit by a | | | | be better to diversify its reserves and started investing |
| series of crisis that were coming one after another but | | | | in the glittering metal. Also, countries like Russia and |
| in the middle of all that chaos, gold managed to reach | | | | Venezuela are known to have been purchasing the |
| 850 dollars an ounce. This price was seen again only | | | | yellow metal for many years. The boldest country of |
| after 30 years. | | | | all was India, because in 2009 it bought 200 tons of |
| The Bretton -Woods agreement signed at the end of | | | | gold from the International Monetary Fund. And the |
| World War II, stated that the dollar was | | | | worst move in 2009 was Gordon Brown's decision to |
| interchangeable with gold at a price of 34 dollars an | | | | sell a big part of the British gold reserves. |
| ounce. But in 1960 the French suspected that the | | | | This is a time when the Central banks have become |
| Americans printed so many dollars and they didn't | | | | buyers instead of sellers. It is a time when people are |
| have enough gold to back them up. So they decided | | | | investing in the yellow metal in order to diversify their |
| to change the US dollars reserves into the precious | | | | portfolio. More and more people have realized that |
| metal. Soon after this, the Central Banks of Belgium, | | | | gold is a valuable asset to own and are now trying to |
| the Netherlands, Germany and even Britain decided to | | | | come up with the money to invest in the glittering |
| change their dollar deposits into gold. This demand for | | | | metal. If you are interested in buying gold then the best |
| gold determined a great rise in prices and the precious | | | | thing that you could start with is a little research and |
| metal reached a peak of 850 dollars an ounce in 1980. | | | | then invest. |
| While the dollar was weak, China decided that it would | | | | |