Why is gold so important to the world?

Gold is one of the most desired and useful metals in the world. Not only does it have a beautiful shape and sculpture, but the precious yellow metal conducts electricity and does not tarnish. These qualities make it the metal of choice for industrial, medical and technological industries, just to name a few. First of all, it doesn't have to have any intrinsic value, making it an ideal option for those looking for the best gold IRA rollover option. A currency only has value because we, as a society, decide that it has value.

Demand for gold can vary greatly and, with a fixed supply, this can cause equally sharp changes in its price. A piece of gold may not have any immediate physical value to the person holding it; you cannot eat or drink it, for example. Some people argue that gold has no intrinsic value, that it is a barbaric relic that no longer possesses the monetary qualities of the past. Gold is used in increasingly varied and innovative ways and continues to help shape the world around us.

That's where I meet Andrea Sella, professor of chemistry at University College London, next to an exquisite shell made of pure whipped gold. From an elementary perspective, gold is the most logical option as a medium of exchange for goods and services. In the 16th century, the discovery of South America and its vast gold deposits caused a huge fall in the value of gold and, therefore, an enormous increase in the price of everything else. Nixon made his decision for the simple reason that the United States was running out of the gold needed to back up all the dollars it had printed.

Gold and gold mining play an important role in the progress of SDG 3, as they guarantee healthy lives and promote well-being at all ages. Gold miners often work in partnership with host governments, communities and NGOs in the countries where they operate, to identify how best to support broader social and economic development. Gold mining companies also have ethical and business incentives to improve the health and education of the communities in which they operate. If you put together all the earrings, all the golden rulers, the small traces of gold on each computer chip, each pre-Columbian statuette, each wedding ring and cast it, it is estimated that you would only have a 20-meter cube left or something like that.

Although silver can be polished and textured in multiple ways to capture light and attention, there is no metal left like gold.