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After netting around $27 million from 600 clients between 1998 and 2002, Mr.

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The mining companies earn 5% to 9%, and the bullion houses that arrange the central bank loans and handle the gold sales earn huge fees.

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dollars were no longer exchanged for gold; and in 1973, the floating exchange rate system that governs the FX market today was put into place.

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Hence, to create a unified financial order in the postwar world, all the major economic powers attended a meeting formally known as the United Nations Monetary and Financial Conference, or the Bretton Woods Conference, in 1944.