From the ancient Egyptians to today’s millionaires and billionaires, gold has maintained both material and symbolic value amongst humans throughout the millennia. But why is this the case?
It’s a symbol of power and wealth
While the value of gold is essentially something we as humans have simply decided, there’s no getting around the fact that it’s widely viewed as a store for wealth and a symbol of power.
It’s difficult to extract
Gold has many physical properties that contribute to its appeal, including its durability and lustrous looks. It’s also pretty scarce and difficult to extract from the earth, which further bumps up its value.
Its popularity remains consistent
Although you might initially assume that young people are more interested in digital assets like cryptocurrency, gold actually makes up around a fifth of the portfolios of many young investors.
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It’s got the ideal balance between rarity and abundance
While gold is relatively rare, it’s also present in high enough quantities to maintain its position as a practical commodity that can be exchanged.
It has long-term value
Like many investments, the value of gold is volatile, its intrinsic value means that it can be used as a bit of a buffer against things like inflation over the long term. The fundamental appeal of gold is unlikely to disappear, as it’s been viewed as a valuable asset for thousands of years.
