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Gold Standard Money Has Gone Forever – What Do You Know About Gold? (Part 1)

Gold has been widely used throughout the world, and its long history, for so many different purposes, including the following:- as currency money; as gold bullion bars and gold coins to store wealth; in a wide range of industrial applications; alloys and technical uses; as precious jewellery, ornaments, collectibles and memorabilia; in gold awards, crowns, cups; artisan crafts and in several other groups of miscellaneous items/uses.

This quiz provides you with information relating to gold, gold prices, and the famous gold standard, that is no longer in use, and is now probably gone forever!

Do enjoy the quiz; and if you wish, please leave your score, and comments, afterwards. Thanks.

NOTES:

1. To read my earlier quiz about Rainbows, and ‘the Pot of Gold relating to the Rainbow’ – click here!

2. To get involved in working with useful Business Terms, to help you earn ‘your own pot of gold’ – click here!

3. To find out & analyse what your Best Offerings are in your business, ie your gold ‘Shooting Stars’ – click here!

4. To discover more about Diamonds to help you create that special gold diamond jewelry, or ornament, that you have always wanted to design, or produce – click here!

Good luck and have fun, while learning!

  • Question /

    In which historical period in time, were the first known gold coins made/struck, and used; on earth?

    • Around 30 AD
    • Around 60 BC
    • Around 300 BC
    • Around 600 BC
  • Question /

    By January 2015, how many metric tonnes of gold was estimated to already be in existence above the ground, extracted/mined, accounted for and in circulation; or in use?

    • 23,600 tonnes of gold
    • 63,600 tonnes of gold
    • 133,600 tonnes of gold
    • 183,600 tonnes of gold
  • Question /

    What percent of all the gold, ever extracted in the world; has been extracted since 1910?

    • 75%
    • 55%
    • 35%
    • 15%
  • Question /

    For many decades, up until 1968; the United States set the value of one troy ounce of gold globally to be equal to a specific amount of US dollars. How many US dollars was one troy ounce of gold, from 1934 until 1968?

    • $210 per troy ounce ($6.78 per gram)
    • $70 per troy ounce ($2.26 per gram)
    • $35 per troy ounce ($1.13 per gram)
    • $140 per troy ounce ($4.52 per gram)
  • Question /

    What is the name of the monetary system in which a specific weight of gold is given the name of a unit of currency, that is used daily?

    • The Gold Council
    • The Gold Currency
    • The Gold Standard
    • The Gold Index
  • Question /

    In today’s world of paper money; what is currently used to back, or determine the value of each of nation’s currency, and its exchange rates?

    • National Government Bonds issued by that country
    • Economic Conditions in that particular country
    • Gold Reserves in that country’s Central Bank
    • The World Bank and the International Monetary Fund
  • Question /

    On 2 December 2009, the price of gold (per troy ounce) reached a then new-high. What price was this, then new-high in 2009?

    • $317
    • $617
    • $917
    • $1,217
  • Question /

    What reaction does gold have with most acids – such as: hydrochloric acid, sulphuric acid, nitric acid, or hydrofluoric acid?

    • Gold is substantially corroded by most acids.
    • Gold is dissolved by most acids.
    • Gold is unaffected by most acids.
    • Gold is slightly corroded by most acids.
  • Question /

    On 1 March 2011, the price of gold (per troy ounce) hit yet another new all-time high. What price was this, then new-high, in 2011?

    • $1,532
    • $1,432
    • $1,232
    • $1,332
  • Question /

    When was the old gold-standard system of backing world currencies; abandoned by most of the world’s governments; and replaced by the current system of nominally convertible currencies with fixed exchange rates?

    • 1948 – A few years after World War II
    • 1933 – A few years after the Wall Street Crash
    • 1921 – A few years after World War I
    • 1906 – A few years before World War I
  • Question /

    What was the weight of a gold coin (known as a talent), that was used in ancient Greece; around the time of Homer’s life?

    • Around 8.5 grams
    • Around 6.5 grams
    • Around 4.5 grams
    • Around 2.5 grams
  • Question /

    Which was the last country in the world to finally abandon the ancient gold-standard system; when it stopped using gold to back 40% of its currency’s value; after it joined the IMF in 1999?

    • Russia
    • Switzerland
    • United States
    • China

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Written by Daniel Obiago

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27 Comments

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    • Your 3/12 score can be improved on when replayed. Tough quiz for you – considering that these questions/answers are an industry must-know for those working with Gold & Finance. Hope you had fun learning something new! Thanks for playing. ?

    • 100%. Excellent. Absolutely brilliant, Hassnain You smashed the quiz and topped the league. I am sure you will do well if ever you find yourself working in the Gold industry. There are more quizzes relating to Gold; waiting to be posted over the next few days. Hope you will take part in them too. Thanks for playing. ? ? ? ? ?

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