About: Why is gold so important   Sponge Permalink

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Technically gold isn't important. However, historically is has been seen as a good way to hedge against the loss of value in other forms of investment (currencies, bonds, jewelry, real estate, stocks, etc.) Traditionally when the economy is down gold value tends to rise because people like to think it holds its value and psychologically (because of cultural and historical memory) it is thought to be similar to currency (since currency was once based on gold).

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  • Why is gold so important
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  • Technically gold isn't important. However, historically is has been seen as a good way to hedge against the loss of value in other forms of investment (currencies, bonds, jewelry, real estate, stocks, etc.) Traditionally when the economy is down gold value tends to rise because people like to think it holds its value and psychologically (because of cultural and historical memory) it is thought to be similar to currency (since currency was once based on gold).
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  • Technically gold isn't important. However, historically is has been seen as a good way to hedge against the loss of value in other forms of investment (currencies, bonds, jewelry, real estate, stocks, etc.) Traditionally when the economy is down gold value tends to rise because people like to think it holds its value and psychologically (because of cultural and historical memory) it is thought to be similar to currency (since currency was once based on gold). Why is it not important? Well, you can't eat it. It is known to have some good electrically conductive properties, but for it's cost it isn't really worth it. It resists rusting and tarnishing, but only really to protect something else that has value. The importance of gold is largely psychological. Look up "gold standard" and you will see it's historical usage as the base of currencies around the world. In the electronic age, a gold standard is seen as inefficient and would require immense and unwieldy gold reserves.
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