| 单词 | gold |
| 释义 | gold A precious metal, widely used both as a form of money and for jewellery and other ornamental purposes. Gold was already used in these other ways before its use as money and the invention of coinage. Gold coinage was at one time in general circulation, but the monetary use of gold is now confined to holdings of gold bullion by central banks as part of their foreign exchange reserves. Gold is still widely used as a store of value by individuals who mistrust government-created money because it is so vulnerable to inflation. Gold costs real resources to mine, so that its value is not liable to be destroyed by inflation, unlike fiat money. The gold standard was a system of fixing foreign exchange rates by making the currency of each country convertible into gold at a fixed price. |
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