Why Is Gold Worth So Much?

gold is at an all time high because paper money keeps devaluing all over the world. people have lost trust in banks so they want something they can touch that makes them feel as if they have a wise investment. gold will always be around and always thought to have a value even when the gold market starts to fall back as it will one day when it reaches the peak.people can pass gold down to their children in rrings etc so it is a form of wealth that can be moved around without too much paperwork and taxation.

Name anything that a copper can do and you will notice a gold can do it. Gold can even be a Column for a building but because of its rarity, it cannot be used where it could be a threat for its depletion.

WE are surpose to have gold in Ft. Knox enough to back up the money we print. its a fall back on the gold to suprot our dollar. BUt I have also heard that we have paid debts to other countries with our gold and we might not have enough to suprt like e used to.

It is partially because in America, the dollar is not backed up by gold and the government kept printing money. You cannot just think of it as a decoration or jewelry because of the difficulty getting it, processing it, etc and its rarity, gold has always been considered the standard. So it was used to buy things and when paper money becomes just like wall paper, if one has to one can use gold, but unlike paper money that is not backed up by gold, if for instance, a house costs one bar of gold, the next day or next month, you do not need to bring in two bars to buy the same house. In other words, it remains more or less steady.

hi elmikp its rare and costly to mine and here in the us we have oold as a backup for our paper money and thius for us Americans its vitally important to us. We keep it in fort Knox under guard. this is the back ip for all our money in the US so yes its vitally important

That's interesting. I'm curious to know why too.

well, i think it is because gold is precious and can be turn into beautiful jeweleries... that's why they are more expensive... take care and have a nice day...

There is only a certain amount of gold in existance and no one can make more of it other than by extracting more from the earth. It is also totally resistant to corrosion so it has always been regarded as a standard of value. Look at the "rise" in the value of gold this way. The gold has not risen in "value" it's the paper fiat currency which is used to measure it's "value" which is falling in value. The gold has not changed, what changes is the amount of trust which people are prepared to place in the paper fiat currency which we all use. Incidentally, gold is extensively used in electronics because apart from being corrosion proof, it is also a better conductor of electricity than copper. It's use in jewellry consumes only a small amount of gold each year, the majority goes into electronics.

I too think the same way as you do.In my country, and also elsewhere around the globe,people put so much emphasis on gold as an asset and its value.For me it is just a metal which has been accorded a precious status due to the reason that it shines and is used to make jewellery.But ultimately it's value just like money comes purely because we assign it that value.But whereas money is a day to day thing which we can carry and use to buy goods from the market and also because the government has the ability to print money whenever necessary, I hold money as having more power than gold.No government can try to manufacture gold as and when required.Also it cannot be readily used and accepted for day to day purchases.It is just some metal that works best for hedging perhaps and to wear during festivals and occassions.

Hi elmiko! Gold is extremely costly and at the moment extremely valuable! I was in need of money and I was cleaning out my broken gold jewelery and decided to take it to the jewelery store near where I live. I was shocked when I found out that the pieces that I gave in totalled $765! I almost fainted! It was just some broken chains, charms and old stuff! They didn't even count the stones! Gold is really in demand so don't be fooled. If I had money I wouldn't hesitate to invest in it now! I just wish I had more broken stuff to cash in on!

There are many reasons about this question.One reason is that gold mine is limited all over the world.One reason is that so many people love to wear golden adornment.One reason is that many people buy gold in investment field.

Wow! Gold and copper the same purposes! Sorry, I can't believe that. For one thing brass is brass because of copper. The qualities of both are very different. When investing it is known that you want to think, gold, real estate and then silver in that order. Once you own it it's very hard for anyone else to take it away from you. But try to buy gold through your traditional financial planner. You can invest in products they sell that have some gold in them but not actual gold. It would be like trying to buy real estate from them. Gold takes up less space than any other metal. It's value to weight makes it convenient to store in your personal safe. Money on the other hand, backed by and representing gold from the beginning is much easier to store. Then when you make that representative of gold work harder by investing in real estate when it's cheep, like right now you have more gold or money once the real estate values climb back up again. And that folks, is economy 101.

The price of gold is highest,because there are more paper money now.Our paper money is became cheaper and cheaper now.Maybe a big economic crisis is coming!

Well with fiat currency and golds many uses and it's rarity till fusion comes online we will be stuck in this scarcity market

because it scarce. the fact that it is is scarce made it so expensive. look at salt or other stuff that can be easily found or made, it has many supply there it isn't expensive. but look at diamond it is very scarce therefore it is expensive