Commodity market in Sumer between 4500 BC and 4000 BC. Sumerians first used clay tokens sealed in a clay vessel, then clay writing tablets to represent the amount—for example, the number of goats, to be delivered. These promises of time and date of delivery resemble futures contract. Early civilizations variously used pigs, rare seashells, or other items as commodity money. Since that time traders have sought ways to simplify and standardize trade contracts. Gold and silver markets evolved in classical civilizations. At first the precious metals were valued for their beauty and intrinsic worth and were associated with royalty. In time, they
Aurum Geyser Aurum Geyser Aurum Geyser is a geyser in the Upper Geyser Basin of Yellowstone National Park in the United States, on Geyser Hill. Aurum can, at times, be very predictable. Other times it can be very erratic. Observations have led to the theory that Aurum's activity is linked to the meadow behind the geyser. When the meadow is wet, activity is regular with 3 to 4 hours between eruptions. When the meadow dries in late summer and early fall, the interval becomes less predictable ranging from 4 to 7 hours. Aurum also participates in the weekly Geyser Hill wave. It