Can gold be used as a currency?

Are you wanting to learn if gold can be used as a currency? Get up-to-date information and reliable answers to your bullion and precious metals related questions here at ModernCoinMart's Complete Bullion Resource Center.  

Gold has a long and vast history of being used as a currency throughout the world. While gold is no longer used in daily transactions as a generally accepted payment method, it can still be considered a currency under the current system. It is highly liquid and can be exchanged for cash in nearly any other currency. 

In America, gold is often thought of in relation to the U.S. dollar. The two historically share a negative correlation as the dollar typically decreases as the spot price of gold increases and vice versa. As such, gold has often been viewed as a hedge against macroeconomic circumstances, such as inflation or increased interest rates.

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