When it comes to the use of gold throughout history, there are quite a few facts that may interest you. The beauty and color of this metal has made it appealing since it was first discovered by man. Today, the metal is a symbol of weath, privilege, status and this was true in the past as well. In ancient Egypt, gold could only be owned by pharaohs. In time, laws were relaxed and a few other high ranking members of society were allowed to own it.
It was believed in ancient Greece that the metal was a combination of a very dense form of water and the sun. Egyptians believed that gold was really the flesh of a revered god. There have been many uses for the metal over the years including jewelry, decorative items, and gilding. The wealthy even owned furniture that had been covered in gold and household items that were almost solid gold.
Gold has always been used to help individuals hold on to wealth and capital, and it is seen as a safer choice when compared to other vehicles. This was true through the centuries and it is still a fact today. Almost every other possible holding could go belly up and lose everything, but this will never happen with precious metals when you own the physical ore. In this situation you will always retain something of value.
Gold has always been a very valuable commodity, but in the last few decades we have seen the most dramatic increase in value. During this time, gold reached $1000 an ounce for the first time and now it has gone up to around $1600. The increase in value has caused more investors to jump into this market and that demand has driven the price even higher. Of all the gold that has been discovered, most of it is still in circulation today.
With our fragile economy, gold is a popular choice with investors. If the economy does collapse completely, this metal will be invaluable. Gold has been used as a form of currency and to barter with since its discovery. As the dollar goes down in value, gold goes up so it is priceless in a survival situation. Other investors may use the metal to hedge against inflation. While there are many historical reasons to invest in gold, most choose this option to prepare for the future.
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