Gold replaces other metals because of its non-oxidation property, unlike iron and copper, which oxidize and oxidize respectively. Gold, on the other hand, is not easily oxidized and therefore maintains a uniform weight, making it a rare metal. Gold doesn't corrode and can melt on a flame, making it easy to work with and seal it as currency. Silver and gold are beautiful metals that are easy to turn into jewelry, and both precious metals have their own devotees in fine jewelry circles.
Additionally, gold is often used to invest in retirement plans such as Gold IRAs, and there are many Gold IRA brokers who specialize in helping people invest in gold for retirement. Gold is much more valuable than any other metal, which means it will always have a use for it. Metal is so popular because it doesn't rust or tarnish and its color never fades. That's why gold is likely to remain valuable, no matter what happens in the market. In society, some cultures see gold as a necessity, while others do not see it necessary, since paper money can represent many forms of wealth (in the 1930s, people mainly used gold to save money when the stock market collapsed and banks went bankrupt left and right).
Its use in jewelry, technology and financial markets generates several branches of demand for gold and these various uses help provide support at different times throughout economic and commodity cycles. The history of man's relationship with gold goes back many millennia and its golden color immediately attracts attention. He brings extensive experience writing about energy and commodities, having worked as an oil market reporter and then as a precious metals reporter during the seven years he worked at Bloomberg News. In recent decades, gold has become the preferred asset of many investors seeking to protect their assets.
Perhaps the physical quality of gold of absorbing light causes its special brilliance to literally come from within. For example, the mirrors of NASA's new James Webb space telescope are coated with a super-thin layer of gold to take advantage of their reflective qualities. In South America, the Incas and other Andean communities considered gold to be “the sweat of the sun”. Since others believe that gold has value, so do you; and because they think that you value gold, others also value it.
This belief comes from the psychology of human beings and their desire to accumulate wealth, tangible assets and precious metals, among other things. Gold has occupied a unique place among mankind and has been a source of value since it was first mined in the days of King Croesus in Lydia in 550 BC. C. For many decades, many of the world's currencies were backed by gold, and central banks required to have an equivalent amount of gold for every dollar or other currency in circulation.
At the other end of the spectrum are those who claim that gold is an asset with several intrinsic qualities that make it unique and necessary for investors to keep it in their portfolios. In recent years, there has been an increase in the number of people investing in gold because they are concerned about the value of the FIAT currency, such as the U.