The gold backing is mainly a system to support the price of Auric in its early stages. By giving each coin an intrinsic value of 0.001oz of gold at the time of the ICO and backing this with accounts holding the equivalent weight of gold, it ensures that Auric has that as a true value to start with, separate from its value as a cryptocurrency. We offer, via the Auric Market, a means to exchange Auric coins for gold to the sum of the weight exchanged. This both provides price support as well as giving early investors a means to change asset class should they desire.
It's rather in-depth to explain in a post - we would advise downloading our white paper (links on the front page of this thread and our website) for full details. But basically, it ensure the price is supported and also means you always hold coins that are actually worth something in their own right, regardless of their natural price appreciation.
Kindest Regards
Auric Communications