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

The theme «Gold markets»

Ex. 1 Write down the words in your exercise-books

1. Gold appears in large quantities	Золото встречается (появляется) в больших количествах	Gold appears in large quantities in fairly pure from in nature.
2. In fairly pure form	В довольно чистом виде
3. Discovery	Открытие	People made the first discoveries of gold in the 1^st century BC.
4. To extract by mining	Извлекать из месторождений	Today people extract gold by mining.
5. Differ in framework	Отличаться структурой	The world’s gold markets differ from each other in framework and functions.
6. Primary and secondary markets	Первичные и вторичные рынки	There exist primary and secondary markets.
7. Wholesaler Wholesale	Оптовый торговец Оптовая торговля	Primary markets are wholesalers, and secondary markets are retail dealers.
8. Retail dealers Retail trade	Розничный дилер Розничная торговля

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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