I need to know-NOW
2006-11-12 12:45:57 · 20 answers · asked by Jadie-Babie 2 in Business & Finance ➔ Other - Business & Finance
apart from being rare
2006-11-12 12:49:27 · update #1
Gold is rare because during the gold rush, people swarmed over the gold and took most of it. Also it is eye-catching because of it's shiny colour. It also weighs more than silver.
2006-11-13 18:33:15 · answer #1 · answered by Janelle C 1 · 0⤊ 0⤋
The main reason gold is valuable is because it is appreciated around the world. Its glowing appearance, durability, and malleability, or ability to be shaped into many different forms, are universally recognized, and it has been accepted worldwide as payment for goods and services for centuries.
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.
2006-11-12 12:54:25 · answer #2 · answered by Beeswax 4 · 0⤊ 0⤋
Looks good, many uses in electronics and EZ to work with to form jewelry.
For some top forecasts on gold’s direction, visit the site below:
I like the real GOLD nuggets.
As most gold is mined as very fine dust and tiny nuggets, the larger (over 1oz) nuggets are very rare! Actually they are as rare as large diamonds!
I would suggest you look into large nuggets!
To see the 'live' spot NY gold price and some museum size gold nuggets I suggest you visit a great site I found a few months ago. I purchase a few nuggets from them just about a month ago, and not only are they beautiful to look at but in just the last few weeks they have really moved up in value!
I'm actually saving to purchase others!
The site is:
http://www.california-gold-rush-miner.us
http://www.california-gold-rush-miner.us/australia-gold-nuggets.htm
http://www.california-gold-rush-miner.us/crystalline-gold-miner.htm
http://california-gold-nuggets-miner.blogspot.com
http://www.brokerforyou.com/brokerforyou
http://www.san-diego-dentist.us
http://www.medical-research-study-directory.info/san-diego-medical-research-study.htm
http://www.lasik-surgery-san-diego.info/lasik-eye-surgery-san-diego.htm
http://www.websitetrafficbuilders.com/adsense.htm
2006-11-13 18:04:58 · answer #3 · answered by annbest711 3 · 0⤊ 0⤋
Gold is a precious metal whose "rarity and its physical properties have made it one of the most prized of Earth's natural resources." It has high malleability, high ductility, and a tradition of being a standard upon which currencies are based, or a good way of saving and exchanging wealth.
I still remember how Vietnamese women smuggled gold leaf sewn into the linings of their clothes, thus enabling them to have something to bank on when they got away from the Communists.
I remember reading how the Nazis forcibly removed Jews' teeth, and scavenged among the corpses of Jews to get the gold from their teeth at the death camps.
2006-11-12 12:53:10 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Its not that rare, Tibet holds the world's stock piles of gold within there mountains...that's why China wants to invade.
2006-11-12 12:54:40 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Its the law of supply and demand. If demand is high, for jewelry and for gold-plating electrical connectors so that they don't rust, and supply is tight, because you have to mine tons of rock to get a tiny amount of gold, then the price will be high.
2006-11-12 12:49:16 · answer #6 · answered by ricochet 5 · 0⤊ 0⤋
It's rare and expensive to locate, remove from the earth, process, etc.
The more difficult it is to gather a material, the higher the value.
2006-11-12 12:48:08 · answer #7 · answered by misskate12001 6 · 0⤊ 0⤋
Because some guy somewhere in a little windowless room wearing bifocals and a pocket protector says it is. Why does anything have value? Only because someone says it does, and we're stupid enough to listen to them.
2006-11-12 12:50:49 · answer #8 · answered by webwriter 4 · 0⤊ 0⤋
Because it's rare?
Fool's Gold is another story.
2006-11-12 12:46:41 · answer #9 · answered by Anonymous · 1⤊ 0⤋
Supply/Demand Jewelry, electronics, coinage, and art
Historically valued by most cultures and proven track record as a hedge during hard times. ad naseum
2006-11-12 12:49:58 · answer #10 · answered by prusa1237 7 · 0⤊ 0⤋