Gold and other precious metals have been present and used since the very first ages, cultures, and civilizations but it wasn’t very common at those times. Christopher Columbus referred to the concept as the key to eternity when he said “Gold is a treasure, and he who possesses it does all he wishes to in this world and succeeds in helping souls into paradise”.
According to historians, the rush for gold and precious metals officially started in the early 1800s, and to be more exact it occurred in 1848 in America. Ever since, that rush was deemed important to global history as a turning point. That same gold rush redirected the course by accelerating and expanding the communication and transportation technologies, therefore introducing the American and British Empires as two major leaders in the new modern world.
Little Known Facts About Gold And Precious Metals – And Why They Matter
As a natural resource or material, Precious Metals included four main valuable metals which are gold, silver, platinum, and palladium. Nevertheless, there are other lesser familiar metals that are viewed as valuable for instance rhodium, ruthenium, osmium, rhenium, and iridium. Furthermore, what makes gold the most important resource out of all of these metals is the fact that most currencies worldwide used to be backed by it.
Including the word Precious when discussing this concept, it isn’t only because they are natural in resource, but also as they can be extremely rare to discover and certainty since they are pure and unique in characteristics, not bonded with other elements and capable of being transformed( they are malleable and ductile).
Gold is a precious metal. It is relatively inert and does not degrade when exposed to air, moisture, or acidic environments. While most metals are dissolved by acids, gold is dissolved by a specific mixture of acids known as aqua regia. Besides its financial and symbolic worth, gold has a wide range of applications. It can also be used in industry, electrical wiring, dentistry, and glass tinting.
The demand for gold and platinum is projected to grow due to their rarity. Silver is more directly linked to industry, and its market is likely to fluctuate in response to economic conditions. Platinum occurs naturally as a metal, in natural alloys, and combinations with sulfur and arsenic. Today, silver is mainly applied in industry. It is still primarily used in vast amounts in jewelry production, silverware, and coinage. However, the photography and electronic sectors consume more.
The Truth Behind Gold And Precious Metals Revealed In a Few Steps
Former French President Charles de Gaulle once said “There can be no other criterion, no other standard than gold. Yes, gold which never changes, which can be shaped into ingots, bars, coins, which has no nationality and which is eternally and universally accepted as the unalterable fiduciary value par excellence” and he was right. Clearly, the importance and uniqueness of these precious metals will impact their value but would they be considered as a good investment.
During his interview, Dan Oiknine affirmed that the precious metal’s status can also be determined by high demand or market value saying “There’s a reason why a human being go through so much trouble also wasting so much time and money digging and searching for these metals” which really goes on to confirm that possessing these metals most of the time is believed to be a good portfolio diversifier and an inflation hedge and most of today’s savvy investors managed to find a place for them into their business portfolios. Therefore, and against all the imperfections of this field it is widely considered successful to be part of this investment.
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Although Gold and Precious Metals are not to be considered at their peak as they used to be(they are simply traded as commodities), yet this business continues to be a thriving one. Also, time has proven that precious metals are good store value, something you can even leave behind for future generations.
And in the last few years, a heated rivalry surfaced between “Gold and other precious metals” and “cryptocurrency” for which is a better option to invest. But one thing is certain, the near future will settle who has won!
Gold And Precious Metals Guide To Communicating Value, source, and strategy
A precious metal is a rare metallic chemical element of high economic value. Chemically, the precious metals are less reactive than most other elements, have high luster, and have higher melting points than other metals.
Throughout History, such kinds of metals were deemed important as currency, jewelry or even art yet nowadays they are mostly seen as an investment and industrial commodities that are being traded on the open market sold and bought and making benefits during that process.
For instance, gold has had value for thousands of years now, and it does not give a lot of guarantees about the future yet it’s close enough to make most investors feel slightly satisfied and it kept being proved over the years that precious metals are a good store value.
In addition, precious metals and gold especially are more manageable in case of extreme emergencies, such as when a war or revolution is having a place in your country, you can simply take your precious metals and leave unlike other assets such as real estate has to be left behind but they can also be risky keeping them at your presence or leaving them at home(a descent safe need to be bought at least) but at the people need to keep in mind that regardless of these factors, precious metals retain intrinsic value as a tangible and fungible commodity.
They understand the unique value of an investment and they can hold a part of a balanced portfolio.
During his interview, Dan Oiknine emphasized that the status of precious metal can also be determined by the type of metal and its rarity, saying «A metal is deemed to be precious if it is rare. The discovery of new sources of ore or improvements in mining or refining processes may cause the value of the precious metal to diminish. The status of a “precious” metal can also be determined by high demand or market value.».