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Article: The catastrophe insurance policy through history golden times.(Business Report)
- Article from:
- The Star (South Africa)
- Article date:
- November 5, 2009
CopyrightCOPYRIGHT 2009 Independent News & Media PLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BYLINE: Patrice Rassou
THE SHIFT in sentiment away from the US dollar following the credit crisis has pushed the gold price higher. The question now is whether this precious metal, which has played a central role in financial systems for centuries, can reclaim its position as a store of value?
A "fetish" for gold seems to be buried deep in the human psyche. This goes back at least 2 700 years, when coins made of gold and silver alloys were used in the Hellenic city of Efesos. Gold was revered in these ancient societies, as is illustrated by the story of the golden calf that was worshipped by the Israelites while Moses went up Mount Sinai.
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