Historically speaking? Why is GOLD valuable? Is it a cure for something or does it just look cool?

Question

http://www.housepricecrash.co.uk/forum/lofiversion/index.php/t3862.html

Answer 1

At this point, I would argue that it is valuable because it is a traditional holdover from 5000 years ago or more. The neat thing about gold is that it has historically had the same basic purchasing power. In ancient Egypt several thousand years ago, a one ounce gold coin would buy a nice suit of clothes - same today. Also, for centuries, gold was the "common currency" around most of the world. Even if your coin had the image of the "wrong" emperor on it, it could be melted down and re-cast for similar value. Many central banks settled nations' debts in gold until "recently". Most went off the gold standard between WWII and the early 1970's.

Investors still "flee to gold" when they feel there will be high inflation in the near future, Gold is used in some tech products (CRT computer monitors for example) and some Central Banks still maintain gold reserves - hence the majority of its value as an investment today.

Hope this helps.

Answer 2

It is supply and demand. People have loved Gold and Silver since the beginning of time. If people want it, it has a value. The more the want the more the value.
Gold is used in many things besides jewelry. How about fillings for teeth, sculptures, coins, wires for homes, and more.

Would you take some if you saw it sitting on the ground or would you just pass it by? Does it have value to you?

Answer 3

I found this from wikipedia.com

The human body does not absorb gold very well, thus compounds of gold are not normally very toxic. Liver and kidney damage has, however, been reported for up to 50% of arthritis patients treated with gold-containing drugs. Gold used in dentistry is widely regarded as the safest form of restorative material, as well as the most successful. As has recently been discovered, solutions containing special sugar-coated gold nano-particles can be used as toxin-indicators.

Aurum metallicum (metallic gold) is also used as a homeopathic remedy, claimed to be helpful for people with a depressive nature.

Answer 4

People have always been fascinated by shiny objects. Rarity is another attribute of gold that adds to it's appeal. Not anybody can just go and dig some up, unlike copper, or create it like bronze or brass.

Answer 5

it is a rare metal, it has brilliant luster when shined and you just can't go get large amounts of it anywhere

Answer 6

http://gold-news.org/ has some very good info.

Answer 7

i guess b/c it is rare