The government price of gold has changed only four times from 1792 to the present day. For example, demand for gold remains strong in India, the world's largest gold-consuming country, China, etc. The following chart shows the Live Gold Price since 1968, with some notable developments in the gold market. To determine the true value of gold in US dollars, simply take the total world money supply of the United States and divide it by the number of ounces of gold available for purchase. Generally, in the Western world, the ratio between gold and silver is measured simply by dividing the spot price of gold by the spot price of silver.
The price of an ounce of gold remained completely stable and in line with the gold standard at all times. The nearly seven hundred-year-old dataset begins with a price of British gold per ounce of 0.89 pounds sterling and ends with several centuries of a fixed price of 4.25 pounds sterling per ounce for gold in British pounds. Gold to silver ratio: (n) a measure of the mobile ratio of the amount of silver that can be purchased with a fixed amount of gold. Gold tokens are stable currencies whose value is backed by real gold ingots stored in auditable and secure vaults.
