Gold seems so heavy and solid; it has a specific gravity of 19.3 (it is 19.3 times heavier than water), but a hardness of only 2.5 – 3. It doesn’t rust or tarnish. It has a lovely sheen that humans have appreciated since antiquity. The first gold probably had no real value until someone learned how to make jewelry and coins from it. So it was probably originally loved for its beauty rather than its value. There was not an awful lot of “bling” in the worlds of early man.
The price of gold, though, has risen high enough to make gold risky as an investment. Will it keep going up? Will you get any warning if the price falls and you need to sell? Our old gold is valuable because it was worth much less when we bought it. Can the bottom fall out of the gold market?
You can’t necessarily keep your gold nearby where you can look at it every day. It’s heavy and it is coveted. Someone will surely steal it. You have to store it somewhere safe like a bank safe deposit box or you have to just own a piece of paper that certifies how much gold you own.
Even as late as the 20th century gold jewelry and tableware, etc, was considered a moveable treasure. You carried it everywhere. In chaotic times you could sew it into your clothing. You could sometimes use it to buy safety and freedom. Since the Holocaust I don’t think we have faith in “moveable” gold any longer.
I will not have to make a decision whether to buy gold or not because it is beyond my reach. Today gold is at 1776.40, (how patriotic). I comfort myself by remembering what someone said on CNN and which others have said previously, “you can’t eat gold.” So true, so true!