Exchange transactions involving gold

Often the list of currency pairs include quotes and more gold against the U.S. dollar are called gold-spot contracts (and referred to as GOLD). This is justified because gold is essentially a global equivalent of money, and none of the current rates are not guaranteed by law gold content. Account for FOREX allows electronic exchange transactions involving gold and at the same track incessant fluctuations of exchange rates for the precious metal. The interest in such transactions is particularly high in times of crisis, when currencies of all countries in varying degrees of impaired, because of what the demand for gold increases.