单选题
Why the World is Sold on Gold
Gold is a measure of wealth C which is recognized all over the world. For centuries it was the foundation of the international monetary system and,
(19) today, it remains one of the most important components of a country's foreign currency reserves.
What
(20) gold attractive is that it has a value of its own for both industrial and ornamental purposes,
(21) paper banknotes, which are worthless
(22) themselves. As a result, gold is bought as an
(23) in times of financial uncertainty.
Until the 1930s, several European currencies were based on the Gold Standard, which meant that the value of a
(24) of currency was fixed in
(25) of a stated quantity of gold. People could freely
(26) any banknotes they had for gold. In 1931, worldwide financial problems
(27) the Gold Standard to be dropped. Then, in 1935, the USA, France and the UK
(28) the price of gold at $ 35 an ounce, which remained the price until 1971. Because the demand for gold
(29) so fast, however, the price of gold for ornamental and industrial purposes was
(30) to rise. Today one ounce of gold costs $ 390 in London.
Gold for jewellery is mixed up.
(31) a metal alloy and the purity of the gold is measured in carats. Most gold sold to the public has 40% gold and is
(32) nine-carat gold. Gold investors can buy pure gold from dealers in the
(33) of gold bars or gold coins.