42. Why is gold so valuable?
Gold is a metal that actually has few economic applications. But it is a metal with a relatively constant supply that is difficult to obtain. As a result, people like to possess gold as a kind of apple for thirst. Historically, gold rings and necklaces had a practical purpose: It's a convenient way to carry your assets with you, especially in times when bank accounts didn't exist and savings had to be kept in a physical form. Over the years, gold has been recognized as the most liquid and most universal asset for storing wealth and has therefore been assigned a high value. The unique properties of gold and people's desire to own it as savings gives the precious metal value.
Worldwide, gold has been valued for thousands of years
