National policy and economic instability that can devalue a country's currency have no direct impact on the value of gold. The underlying worth of gold is most obvious when a national currency becomes unstable. At times like that, the value of what people can buy gold at spot price in relative terms declines with the valuation of their currency and their bank holdings also diminish in real terms. Acquiring gold is a sure fire way of safe guarding yourself from currency instability.
Over the centuries the uses for gold have altered little, although the methods for finding it and extracting it have obviously become more high-tech. It is really amazing to realize that even over a millennium, gold has not changed one bit - that is the timeliness of precious metals. What has changed is the way we can all benefit from trading gold, whereas before it was only the super-connected, powerful or well-off people who had the access and the money to do so. We've taken our technological advantages and applied them to the collection, dissemination and analysis of data to create a vastly more educated and wealthier middle class.
The paper money you carry in your pocket essentially has no value other than the one we all agree to give it. If there are substantial political changes or economic uncertainties, then what that paper might actually be worth can vary dramatically. When these situations arise, gold becomes invaluable. Gold becomes more scare and more valuable as the value of paper money diminishes. If trading partners stop accepting the promises of a government, then usually those trades go back to using gold.
All the things we value about gold - it's rarity, softness, resistance to erosion or tarnishing - make it a highly unique precious metal. Precious metals are by their nature less reactive than most elements, and gold is no exception. It is understandable that people in classical times believed that gold was a gift from their gods. Prized for its beauty more than its monetary wealth, gold only became a type of currency in the Classical Period. It is interesting to think that the majority of the world's gold has been re-used. In fact figures show that one third of the gold on the market today has been re-used.
It would be fair to say that gold, along with the other precious metals found by ancient man, helped to create art and culture and enlightenment. Gold still holds is mystique even a millennia after early man first laid eyes on it. Gold's significance in many theocracies across many different cultures is highly unique. It is a symbol of wealth and power in virtually every culture that has ever existed. While our modern religious practices don't necessarily value gold as highly, our popular culture's opinion of gold has not decreased.
Over the centuries the uses for gold have altered little, although the methods for finding it and extracting it have obviously become more high-tech. It is really amazing to realize that even over a millennium, gold has not changed one bit - that is the timeliness of precious metals. What has changed is the way we can all benefit from trading gold, whereas before it was only the super-connected, powerful or well-off people who had the access and the money to do so. We've taken our technological advantages and applied them to the collection, dissemination and analysis of data to create a vastly more educated and wealthier middle class.
The paper money you carry in your pocket essentially has no value other than the one we all agree to give it. If there are substantial political changes or economic uncertainties, then what that paper might actually be worth can vary dramatically. When these situations arise, gold becomes invaluable. Gold becomes more scare and more valuable as the value of paper money diminishes. If trading partners stop accepting the promises of a government, then usually those trades go back to using gold.
All the things we value about gold - it's rarity, softness, resistance to erosion or tarnishing - make it a highly unique precious metal. Precious metals are by their nature less reactive than most elements, and gold is no exception. It is understandable that people in classical times believed that gold was a gift from their gods. Prized for its beauty more than its monetary wealth, gold only became a type of currency in the Classical Period. It is interesting to think that the majority of the world's gold has been re-used. In fact figures show that one third of the gold on the market today has been re-used.
It would be fair to say that gold, along with the other precious metals found by ancient man, helped to create art and culture and enlightenment. Gold still holds is mystique even a millennia after early man first laid eyes on it. Gold's significance in many theocracies across many different cultures is highly unique. It is a symbol of wealth and power in virtually every culture that has ever existed. While our modern religious practices don't necessarily value gold as highly, our popular culture's opinion of gold has not decreased.
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