Only recently has Iraq come to the forefront of gold mining in the world. But the country has a very rich history in this sector. Gold mining activities in the country date back to 4000 BC, during the Sumerian civilization. The government could increase gold production in Iraq by granting production licenses to foreign mining companies, but employees of the domestic banking system also do not have the necessary knowledge of gold trading.
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Although the price of gold may be volatile in the short term, it has always maintained its value over the long term. Over the years, it has served as a hedge against inflation and erosion of major currencies and is therefore an investment worth considering.
Measurements of gold around the world Gold traders prefer to use troy ounces to maintain consistency, but when it comes to small amounts of gold, some North American traders prefer grains and pennyweights. For example, 20g or 1oz bars are ideal for those looking to buy physical gold on a regular basis.