What Makes Gold So Valuable?

What Makes Gold So Valuable?


There are over one hundred elements on the periodic table and one of them stands out out of all. It’s used in electronics, architecture, jewelry, but what is it about gold that makes it so precious? [INTRO MUSIC] On Monday, August 24, 2015, the DOW Jones
Industrial Average plummeted nearly 1,100 points – the biggest decline on
record in a single trading day. Nearly every time something like this happens,
there’s someone coming out of the woodwork saying that gold is a better investment.
But gold is really just a pretty rock. How did it become so valuable? Most of the gold on earth comes from meteorites that smacked down onto the surface two
hundred million years after the earth formed, and humans have been fascinated with it
for millennia. I mean gold has been used as currency throughout advanced
civilization, and the earliest use of gold coins dates back to ancient Egypt around 500 BCE. Before coins, there was a system of values based on weights of gold, silver, and copper. Romans, Egyptians, and ancient Indians all used gold as a form of currency. And as modern nation started to adopt paper currency, though, they used gold as a backing for its value. But we’ve moved away from that. While we don’t use it to back our currency anymore, gold is still highly valued. Last I checked, it was about $1,148 per ounce and it’s rarer than you think. The entirety of a year’s worth of global gold production can fit inside of your living room. A large amount of gold and silver was just found in reservoirs underneath volcanoes in New Zealand. If mined, it could be worth billions for years to come. So why does this space rock mean so much to us and how did it become used as currency? Well there are several theories and it’s got a lot to do with chemistry. Elements like gasses and liquid make zero sense in terms of currency. Way too hard to carry around! Alkaline metals of earths, well, try
dropping magnesium in water and see what happens. Not so fit for a currency. Lead and copper were tried as coinage in some places, like ancient China, but they quickly corroded. And lead, well, lead’s always been a little toxic, so that’s never good. And other precious metals? Some are too rare to be of any practical currency. And, well, some were too difficult to turn into anything. I mean it takes over 3,000 degrees to melt platinum. So that brings us back to silver and gold. Silver makes for a great currency: durable and rare enough to be desired. And gold? Well, it’s pretty inert. It’s the least reactive of any metal, so it won’t corrode when exposed to things like water or oxygen. It won’t ever rust or tarnish. So if you made a golden statue and left
it sitting in a public square for a thousand years, it would roughly look the same, where a copper statue would turn green in only a few years. Speaking of a statue, that’s another plus in the gold column. It’s so easy to manipulate and make stuff out of, whether that’s art, jewelry, or coins. And that brings me back to another point. Gold beats out all other metals, even silver, in value because it’s pretty. I mean, it’s chemical symbol is AU from the Latin name aurum, meaning “shining dawn”. So, it lasts for a while and it’s easy to manipulate and it’s pretty. That would be used on pretty much everything aesthetic, like buildings, paintings sculptures, jewelry, and now you have one
of the most precious things to humanity. So, why is it valuable? Because it’s rare and pretty.
The end. So, while we do love our precious gold, other metals are just as, if not more, valuable for use in things like
electronics. There’s a bit of a problem: we might be running out. Where should we turn? To space, of course. Trace explores whether we should mine an asteroid for platinum in this great video right here. TRACE: “Once asteroids are located, scientists use ground-based infrared telescopes and spectrometers to see which minerals
exist in its structure. Different minerals absorb light at different wavelengths.” Thanks for watching DNews. Don’t forget to hit like and subscribe if you like this episode. Now tell us: what is your most precious item? You can tell us down in the comments below or you can tell us over on our Facebook page or we’re on Twitter @DNews. Thanks for watching. [OUTRO MUSIC]

100 Comments

  1. Well, humans were made by our creator(s) for the purpose of mining for gold. Gold must have been very important for them and they needed some creatures to mine deep inside the Earth crust to find it. That is the original reason for our existence and for us being so obsessed and mentally hardwired to this metal. And this is the cause for venerating gold so much in so many cultures around the world. Without venerating gold, it will just be another metal, an interesting one from a chemical point of view, but not regarded as currency.

  2. But we have paper note so why we need gold ? Basically it has no value. And since we we not use using it for coins thy seem to put more value on it .which makes perfect sense we are stupid

  3. where do you get off on putting statements like this:
    "Gold is just a pretty rock" –
    out into the public?

    Grow a brain, bitch.
    <3

  4. I still don't get it. Yes it doesn't rust, its very maleable…bla bla bla but the practical use is very limited and the economy is no longer based on the gold reserves.

  5. I wanna know what makes freckled redhead chicks so valuable?! Shes just so cute, with them freckles. ^~^ Oh and to put it bluntly further back than most written history, the emphasis on gold ( and silver) having a connection to the gods and their power put a momumental perceived value upon the so called noble metals that would not only have predated their use as money, but also likely explains the other half of the question " why did humans stop becoming so nomadic?" Well one answer is they began to farm and raise animals ( and make beer ^~^), but mining for precious things to eventually trade or just look awesome while hunting was a plus. 😛

  6. LIVING LIFE ENTERPRISES PRESENTS!THE BEST FASHION IN THE WORLD ECONOMIC MARKET TODAY ! SOLID WHITE GOLD FORMULA ! LIFE TIME GUARANTIES !!!

  7. "try dropping magnesium in water and see what happens" – actually nothing much, it takes a long time for it to be corroded, bad example should have used something like sodium in water. Of course eventually the Mg does get converted into magnesium hydroxide

  8. Truth is that gold is only good for storage. Its value is derived from our primitive origins and we have gotten stuck on it. We value gold because in ancient times gold was the most accessible metal since it was it glitters and was found on riverbanks. Soon the glittering characteristics of gold became ornaments when humans found that it was easily beaten into shape and to make other more intricate shapes when they devised a way to melt it. That is the reason why gold was just a simple ornament to most Native Americans (meaning America, not USA)
    But in countries where gold was scarce it was very valuable because it came to be used as currency, specially in Europe, where competition for food was very fierce. Early Europeans tribes traded gold for food products. In modern society, the value of gold comes from the vestiges of such ancient behavior and lives on to tis day. Really gold is worthless for human existence and survival, it is just another learned defect of humanity.

  9. Answer not found, rare and pretty properties are also found in some other elements. Example stainless steel is abundant and cheap compared to gold.

  10. No a gold statue left in the open would not stay the same because humans are dishonest and would start taking bits off it. If not steal the whole thing

  11. Precious metals are valuable because of the human labor and energy needed to extract it. Rarity and beauty is only a part of it.

  12. I actually searched “places Rman nayr has commented”. He is a guy who screams curse words at other people in the comments if he thinks they offended him… lol . Then i got this..

  13. Scam alert!!!

    Try this…  Google search
    "Alibaba.com gold bars"

    You will find all kinds of cheap gold plated crap.  Be warned.

    Never buy from Ebay… Only from trusted suppliers.

    https://www.alibaba.com/showroom/gold-bars.html

  14. If something like that happened to hit the earth 4 billion years ago that's immune to corrosion, use in electronics, I wonder what types of metals they have now in store for 2018

  15. These people are morons and do not understand precious metals. Gold is natural money in that it fits all of the various categories that money must fit in order to be money, and it does it better than any other commodity. Some of the characteristics that money must have are the following: fungibility, transportablity, recognizeability, has stood the test of time, non-counterfeitability, a medium of exchange, a unit of account, a store of value, and a standard of deferred payment. There is nothing else in the world that has all of these characteristics to the degree that Gold does. So ultimatley, the reason Gold is so value is because it's money! It's real money! It's natural money! It's honest money!

  16. Gold currency gave insentive to mine iron; they are found together. A surplus of iron is valuable for arming armies, beyond that scope there was no insentive to mine any more than a plow horns' worth.

  17. Hahahaha yes getting the metals from asteroids would be SO much cheaper then getting them from here on earth . What happens if the payload doesn’t make it back to us ? For a asteroid to be in reach loaded with metals and slow moving , but that’s about it folks.

  18. What a terrible parroting of mainstream science. Let me guess, you read all the NatGeo and Discovery articles and consider yourself educated. Gold is valuable because it prolongs life, heals, conducts and protects from radiation. Not because it's shiny… Wtf

  19. What percentage of the earth is gold?

    More than 99 percent of Earth's gold is missing—it all sank to the center of the planet billions of years ago. In fact, says geologist Bernard Wood of Macquarie University in Australia, there's enough gold in Earth's core to coat its surface in 1.5 feet of the stuff.Sep 1, 2006

    It is a lot more available than you think…it just sunk to the earth's core while it was forming

  20. One ounce of gold for the first square, two for the second,4for the fourth,8-32-64…and so on to the 64 square on the chessboard. Where is all gold in this world?millions of tonns.Are humans slaves here on this earth like in the anunaki story, mine gold to pay his debt.The golden egg.- just me thinking about it.

  21. This is a fucked concept that one country should print money depending on the amount of gold it possess

    This way Africa will be the richest country. And Eastern countries like (Japan, Korea , China will be the poorest).

  22. Gold is the best way to get rid of inflation. Government just making paper money at low cost to make inflation whereas gold is very hard to find to make currencies more valuable and encourage people to trade with items that can be consume like food and electronics. Because currencies doesnt do anything, you can't eat it or play video games with it. It is just a useless thing but precious looking.

  23. Earth can't run out of gold, except if somebody is sanding it to space! Well, space agency actually are sanding it to space in rockets electronics.. Anyway, you get the idea!

  24. Yes, gold is pretty, but it's not as rare as they make us believe it is. Have you entered a small jewelery store in your hometown? We have at least 20 of these stores here in my town, and the amount of gold in each is huge. I remember a lady bringing an armfull of necklaces of all different sizes, and that was just one small part of what they have. I can't even imagine what they have in a big store in Dubai, for example. There are many conspiracy theories outthere around gold, and some of them are pretty good.

  25. And no she is wrong..gold can have rust spots. Example…there are gold coins minted from the us government that get rust spots.you can see it on you tube it only depends on the purity of the gold and if there is anything that got mixed in it when its made into something

  26. She still didn't answer the question who SAYS the value, answer is the Elites who are globalist Zionists, who are the people that make the market value, South Africa, the poorest countries are really the wealthiest, this Bimbo is avoiding truth

  27. So in an apocalypse you think your shiny rock will trade for food? Lmfao. She started the video with that and she's right. Wont trade you anything for your gold. Y'all gonna be screwed. But you'll look pretty as you die

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