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The theme «Gold markets». Ex. 1 Write down the words in your exercise-books. Ex.2 Read and translate the text in the written formСтр 1 из 2Следующая ⇒ The theme «Gold markets» Ex. 1 Write down the words in your exercise-books
Ex.2 Read and translate the text in the written form Unlike most other metals, gold appears in large quantities in fairly pure form in nature. This is why people became interested in this metal. The first discoveries were made in the first century BC when gold was washed from river sand in Egypt. Today gold is mostly extracted by mining. The most important gold-producing countries in the world are South Africa, the former Soviet Union, the USA, Australia. Other areas where gold is produced are to be found in Canada, Brazil, Columbia, Ghana, the Philippines and more recently in China. The world’s gold markets differ from each other not only in their framework but also in their functions. An important distinction has to be drawn between primary and secondary markets. Primary markets are those that receive the newly mined gold, which they then distribute either directly or through secondary markets. The main primary gold markets, which are often called wholesalers, are Zurich and London. The secondary gold markets, which are retail dealers, are Frankfurt, Paris, New York, Los Angeles, Chicago, Panama, Singapore, Hong Kong, Kuwait and others. Thanks to the cooperation between all these centers gold is traded by telephone 24 hours a day by bank dealers and brokers.
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