Thu, 13 May 2021

WHY IS GOLD SO VALUABLE?

7Newswire
02 May 2021, 04:51 GMT+10

It has been used as a gold coin throughout human history. Every banknote continued to fail against gold even after a certain period of time.

Some people claim that gold has no intrinsic value, but a barbaric relic that no longer has the monetary qualities of the past. The paper currency is the preferred currency in modern economies; They state that the only value of gold is a material in jewelery making.

On the other hand, there are those who argue that gold is a unique and essential asset that should be in investors' portfolios. So, according to these people, there are many reasons to invest in gold.

Most people recognize that gold has always value for all these reasons - as a component of decorative jewelery, once as a currency and as an investment. But in addition to these tangible values, it is necessary to add another property of gold, although it is difficult to pinpoint precisely: mystery. The attractiveness of gold is due to its mysterious nature. In the world of finance and investment, we often emphasize the word 'mystery'. Yet, as in most disciplines, there is always a place for mystery in both science and art.

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Why Is Gold Preferred Over Other Metals?

Basically, gold is the product of an old tradition. It is quite easy to process and gold in the case of ancient people; It was preferred because it did not darken like silver or copper and was stronger than them. It is also insoluble in acids and solvents. It can have a variety of colors when alloyed with other metals. As gold is still rare, it continues to retain its value. Napoleon once had a feast on aluminum plates as it was so much more valuable than gold at that time. When the rarity is gone, the value is also lost.

Gold, like any other metal, has a fascinating history and a special place in the world. For thousands of years, the ornament of kings has been used in competitions as a currency and standard for countries, as a symbol of victory, and more recently in a wide variety of electronic devices and medical applications. Gold was also used in the decoration of ancient civilizations, tombs and temples.

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