From Hong Pao Tea · 5.New York Office+1 (92) 316-2746450 Lexington New York, NY 10017.Gold is the metal we'll turn to when other forms of currency don't work, which means that gold will always have value in difficult and good times. Gold is also more valuable than silver because it is available in much smaller quantities than silver. It is estimated that all the gold that has been mined throughout history and that has not yet been mined can fit in just over three Olympic-sized swimming pools with a total of 244,000 metric tons. Compare that to silver, which has approximately 1.74 million metric tons that have been mined to date, not including what has not yet been mined.
One of the reasons gold still has value is because people have made it valuable. Gold can be considered more valuable than other metals because people perceive it as more valuable. This belief comes from the psychology of human beings and their desire to accumulate wealth, tangible assets and precious metals, among other things. As the price shows, gold has been considered more valuable than silver throughout modern history.
For example, you can buy physical gold, buy gold shares in gold mines, or even buy shares in an ETF (exchange-traded fund) that tracks the price of gold. If you put together all the earrings, all the golden rulers, the small traces of gold on each computer chip, each pre-Columbian statuette, each wedding ring and cast it, it is estimated that you would only have a 20-meter cube left or something like that. In the 16th century, the discovery of South America and its vast gold deposits caused a huge fall in the value of gold and, therefore, an enormous increase in the price of everything else. Gold can stimulate a subjective personal experience, but it can also be objectified if adopted as an exchange system.
These early humans probably used gold for decorative purposes and it wasn't until much later that gold became an important part of society. The best-known precious metals are gold and silver, however, there is a feeling that gold is more valuable than silver and with good reason.