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IAUF - Gold - Q3 Comes In Like A Bull And Goes Out Like A Bear
iShares Gold Strategy ETF
Gold is a commodity and a currency. The yellow metal has a myriad of industrial applications. At the same time, it has a long history as money. Central banks around the world hold gold as part of their foreign currency reserves.
At the turn of this century, central banks were net sellers of gold. The hub of the international bullion market is in London. When the United Kingdom sold around half of its reserves in the late 1990s and early 2000s, it pushed the price of the metal to a low at $255 per ounce.