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WHY GOLD IS VERY EXPENSIVE?

by ScienceSpark

GOLD IS EXPENSIVE

Gold’s lasting worth can be attributed to several factors, such as its perception as a symbol of grandeur, power, and prosperity. Throughout history, gold has held a revered and highly sought-after status as a substance. For millennia, people have used gold as currency and as ornaments.

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WHY GOLD IS VALUABLE?

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Gold’s role in creating the world’s first coinage gave it a lasting significance, and until about 50 years ago, the metal remained the foundation of the global currency markets.

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WHY GOLD IS VALURABLE THAN SILVER?

It is because of these nchanging qualities that make gold so much more valuable than other metals. Unlike other commodities, they also alter the dynamics of supply and demand in the gold market. All of the gold that has ever been produced still exists, in contrast to metals like copper that are produced and subsequently consumed.

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USES OF GOLD

There are four main markets for gold: central banks keep it, investors exchange it, and merchants utilize it to make jewelry or as a component of digital applications. Approximately 50% of all gold is used to make jewelry.