Gold is a kind of naturally forming chemical compound that forms deep within the earth’s crust. It is also one of the precious metals known as coinage metals, along with silver, copper, platinum and palladium. Gold’s naturally beautiful yellow color makes it very appealing for people and it has been used as a sign of wealth and status for more than 2,500 years. More recently, gold has been used as an investment tool to help safe harbor folk’s assets against possible economic collapse.
Due to its aesthetics, as well as its monetary and symbolic functions, gold is used in a lot of different industries, including jewelry, numismatics, electronics, health, dentistry and other fields. It also possesses high ductility and malleability, which leads to people using gold in electric wiring, gold leafing and also colored glass making.
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Buying gold and silver never really goes out of style. In fact, over the past few years, buying gold and silver as an investment strategy has gotten very popular. Do the recent declines in the price of both mean that buying these metals is about to lose its popularity? Hardly. In fact, buying gold and silver right now makes more sense than it did when the market was at its peak.
It’s Not New
If you were to take a look at the way people were purchasing gold and talking about gold and silver in the past few years, you’d almost think it was a new thing. Buying gold and silver was touted as the only way you could protect yourself against an imaginary threat of hyperinflation and other disasters. In reality, buying gold and silver is a much more respected, established and sensible investment option than the types of people who ran around like the sky was falling would have you believe.
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