Gold is a nice color and very shiny, but what makes it so precious? According to Investopedia.com, “Gold has . . . been used as money for exchange, as a store of value, and as valuable jewelry and other artifacts. Gold’s value is ultimately a social construction: it is valuable because we all agree it has been and will be in the future. Still, gold’s lustrous and metallic qualities, its relative scarcity, and the difficulty of extraction have only added to the perception of gold as a valuable commodity” (Tardi par. 3-5). Do you like gold (the precious material)? Why do you think we collectively decided gold is valuable?

Reference(s): https://www.investopedia.com/articles/investing/071114/why-gold-has-always-had-value.asp

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Fact Author: Durga I.

Fact Editor: Ace