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Before paper there was gold. Gold was the first form of money used to purchase goods. Since ancient times goldu2019s value was recognised and even today gold is eagerly bought with paper money.
Gold has been used to store wealth for over 5,000 years across the globe and is still considered one of the more significant indicators of wealth. Over the history of time its importance and value has only increased.
What is it that makes gold so invaluable? Unlike paper money, gold has an intrinsic value because it is very rare and is one of the rarest of mined elements. Its value has stood the test of time compared to other mined metals. Gold is increasingly difficult to mine thus making it even more precious due to its finite nature.
Gold is also almost impossible to destroy giving it an immortal quality because it can neither tarnish nor decay, making gold the logical choice to store wealth for it can be preserved through the times.
Many investors have traditionally perceived gold as an effective store of value, protecting portfolios against market instability and the destructive effects of inflation, making gold the safer option.
Even though the price of gold can somewhat be frivolous in the short term, it has always maintained its value whilst paper assets have seen a decline.
Gold is a commodity, a tangible asset, whereas the USD, GBP and Euro are a form of FIAT currency and hold no inherent value. Gold tends to do well when other assets do badly, but it does best when people lose faith in central banks.
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"Gold still represents the ultimate form of payment in the world. Fiat money in extremis is accepted by nobody. Gold is always accepted."
....if you own one ounce of gold for an eternity, you will still own one ounce at its end."
"Governments lie; bankers lie; even auditors sometimes lie: gold tells the truth."
"The desire of gold is not for gold. It is for the means of freedom."
"You have to choose between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the Government. And, with due respect for these gentlemen, I advise you, as long as the Capitalist system lasts, to vote for gold."
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