Why Do We All Love Gold?

Posted on August 26, 2010
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People have been fascinated with gold for centuries; it is mentioned in repeatedly in the Bible and the ancient society of Aztecs called it ‘god excrement’, such was its significance. Since 25BC it has been mined and due to the high demand for this precious metal most of the gold ever mined has stayed in circulation. From the gold rushes of the nineteenth century to its usage in jewellery, the fascination with gold has ceased to wane for hundreds of years. There are other precious metals, such as silver, palladium and platinum, so why is it that gold continues to be so popular across all cultures and traditions?

One could say that the most historically significant use for gold is within the development of currency, although there are many others. From the thirteenth century onwards, gold was set as a standard economic unit and has been linked to currency and investment ever since. There are, however, less pragmatic uses for the precious metal, such as its popularity in jewellery.

The use of gold as a material with which to make jewellery can be dated back to the Egyptians, who often used coloured glass and gold to make intricate pieces which were worn both in life and after burial to symbolise everything from wealth to fertility. The usage of gold in jewellery stems from practical reasons, as gold is ductile and malleable and therefore easy to shape to whatever setting is desired. However, gold is also coveted for its bright yellow colour and lustrous shine.

Gold jewellery is a status symbol and denotes wealth – and it can also be a part of the marriage ceremony for many countries. The attraction to gold flourishes even today worldwide largely thanks to this association with gold as a luxury product. In Wales, gold jewellery is traditionally given as a gift at christenings, and thousands of miles away in India weddings involve a gold pendant, indicating exactly how widespread the importance of gold is. Many high-end brands such as Rolex, who offer an eighteen-carat gold watch, also offer products adorned with, plated with or made of gold, meaning the luxury market shows a significant following of gold products.

One can buy a cheap gold necklace, or show extravagant wealth with a gold-plated watch. It can be bought as bullion bars for a financial investment or holding a diamond on your ring finger. It would seem that the duality that gold offers explains why its popularity, centuries after its discovery, continues only to grow.

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