History of Gold
The use of gold has been proven to be a critical element to civilizations both past and present. Gold’s history dates back all the way to approximately 4000 B.C., and some believe that it could have been used before that. It was also referenced multiple times in the Bible, and could be used to describe a precious scenario or a state of holy being.
It has been discovered in many different places and in many different ways. This could range from beginning discoveries in Europe thousands of years ago to the more recent Gold Rush in the Western United States. It was also said to have been plentiful in Egypt. It is the softest of all metals and the easiest to work with. This makes it a very dynamic element and made it more conducive to the talents of early material developers.
Gold’s many uses have increased over time with new inventions and technologies coming into play. It was used in its earlier times of discovery as a decorative material, most likely for religous places or for kings. We today may know gold as more of a currency, carrying a value of its own for use in transactions. Staying with the economics of gold, it has value as an investment as well. Gold can be bought and sold on the market similar to a stock or bond.
The gold price fluctuates day-to-day, giving investment seekers the chance to buy low and sell high, or hang on to the gold. Some investors choose to do the latter as a form of insurance against inflation, but many finance experts debate that investment strategy.
However, the gold price is now at a record high which gives investors reason to take notice of gold’s place in the market.
Some investors also look to gold as an option with more stability than stocks and bonds. Due to recent dips in the stock market, gold has seemed like a better way to go for certain investors.
Gold’s price carried a high rate of stability for many years until what is known as the gold standard was largely abandoned in the early 20th century.
This gold standard is one way way that gold has been shown to be insurance against inflation, acting as somewhat of an accountability partner to paper currency. This describes some of the early uses of gold and how it is used today.