Monday, July 18, 2011

550 years of Gold trading in Istanbul

Can anyone see an unbacked US$ still trading in the Forex markets in 500 years time?

From: Euronews | Jul 16, 2011

In these austere economic times, many have sought refuge for their savings in gold.

Gold rose to record highs last week but it's not just on the financial markets where people are looking to protect their wealth.

In Istanbul's Grand Bazaar, traders have been buying and selling gold since 1461, the early days of the Ottoman Empire. Its shops attract between 250,000 and half a million visitors annually.


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