In commodity market terminology, Gold refers to a highly-prized precious metal that has been used since the dawn of recorded history for multiple uses such as in the making of jewelry and coins. Gold does not oxidize in air or water and is one of the most malleable pure metals known. Traditionally used as a store of value, gold standards have been the basis for monetary policies and entire economic systems. Gold is widely used in electronics due to its excellent conductivity and resistance to oxidization.
Gold has been traded for centuries and has historically been used for coinage. Gold trades worldwide in both spot and futures market with the principle markets being the London Gold Market, the Chinese Gold and Silver Exchange in Hong Kong, the COMEX division of the New York Mercantile Exchange or NYMEX, the Tokyo Commodities Exchange or TOCOM, the Chicago Board of Trade or CBOT, the Istanbul Gold Exchange and the Shanghai Gold Exchange.