The existence of gold has been known for over 5,500 years; therefore, the exact location of its discovery is unknown. Gold is a metal element that is often found with other metal elements such as silver and copper.
Gold is the most malleable metal element. It is often mixed with silver, platinum, copper or palladium to make it stronger. These mixtures are alloys and are used to make items such as jewelry.
A carat is a unit that determines the gold amount in jewelry pieces. One carat equals 1/24, which means that an 18 carat gold bracelet contains 18 parts of pure gold mixed with six parts of another metal.Learn More
Silver has been known since ancient times and as such, no one knows exactly how it was discovered. The major centers of silver production have shifted throughout history.Full Answer >
Hard to find in nature and durable enough to remain in perfect condition for centuries, gold is unlike any other metal in the periodic table. It has been used as currency and as a means to display wealth and power for centuries, particularly among royalty historically.Full Answer >
Gold is expensive because there are limited quantities available. In addition, it is expensive to produce, which also drives up the overall cost.Full Answer >
The high value of gold is driven by three factors: its practical applications, the largely aesthetic desire people have for it and the perceived protection it grants investors as a hedge against currency fluctuations. According to Jerry Bowyer for Forbes magazine, the cash value of all the gold that has so far been extracted amounts to roughly $10 trillion.Full Answer >