Why is Gold So Valuable?
Gold's Value Rests on Supply, Demand, and Malleability
Mankind has wondered, throughout the course of human history, as to the reason of gold’s high value. There are plenty of exquisite items around the world that are pleasing to the eye that are substantially less valuable than gold. However, very few metals or items are as rare as gold. It is believed that only 1 to 20 percent of the world’s gold has been found, and most companies that dig for gold using heavy equipment have to move about ten tons of dirt or rock to extract a single ounce of gold.
Gold is also inert, meaning it doesn’t rust, corrode or degrade because it doesn’t interact with other elements. In essence, gold is made to last forever. Gold is extremely malleable. It can be stretched and twisted without breaking or cracking, allowing jewelry makers to create a plethora of different items and objects. Gold can also conduct electricity and is often used in computer circuits and audio cables around the world.
The bottom line is that people have always wanted gold, and have been willing to pay or trade for it since its discovery. Gold is a timeless wonder that has greatly appreciated in value, especially within recent years. People are willing to pay for gold because of it's difficulty to obtain and malleability.
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This really helps if you have an assignment on the gold rush and why gold is so valuable. Thanks mate
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