Gold is respected throughout the world for its value and rich history, which has been interwoven into cultures for thousands of years. Coins containing gold appeared around 800 B.C., and the first pure gold coins were struck during the rein of King Croesus of Lydia about 300 years later.
Throughout the centuries, people have continued to hold gold for various reasons. Societies, and now economies, have placed value on gold, thus perpetuating its worth. It is the metal we fall back on when other forms of currency don’t work, which means it always has some value as insurance against tough times. Below are eight practical reasons to think about owning some gold today.
- Throughout history, gold has been seen as a special and valuable commodity.
- Today, owning gold can act as a hedge against inflation and deflation alike, as well as a good portfolio diversifier.
- As a global store of value, gold can also provide financial cover during geopolitical and macroeconomic uncertainty.