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Being one of the first metals to be discovered, gold throughout history has always had a rich past from its use in ancient Egypt, Greece, Rome and Africa. It has been used within their culture for thousands of years, and has been essential to their artefacts and ornaments. It is now deemed as the ultimate symbol of wealth and prosperity.
Gold was first being mined in the Varna Necropolis in Bulgaria where some of the oldest gold artefacts were found. The graves in the cemetery were built between 4700 BC and 4200 BC signifying that the gold mining could be around 7000 years old.
Gold in its purest form is a bright, yellow, malleable metal which is, as of July 2016, valued at around £32.38 per gram. Despite its value, gold can also be used as a form of currency for various countries for when people lose faith in their nation’s paper currency. Gold being of the atomic number 79 makes it resistant to acids, but is dissolvable by aqua regia (a mixture of nitric acid and hydrochloric acid). Gold is primarily viewed as an investment and is also still of continuing popularity through the jewellery created. It also has industrial applications, such as forming intricate components within a computer. Gold is the most prominent safe haven for investments and hedging properties across the world. It is seen to offer the best insurance against inflation and any other dangers that could possibly ruin global stock markets. It has also proven to be used in portfolios to protect global purchasing power, reduce portfolio unpredictability and minimalize loss during periods of market shock as well as diversifying portfolios.
There has been much fluctuation with prices of gold. Looking at projections over a 45 year period the general trend has shown an increase in return of investment even outdoing investments in stocks and bonds. It is clear that the value of gold has changed considerably over time with the value of gold increasing by 335% over the past 30 years. Further illustrating how despite there being fluctuations in the price of gold it is clear that the amount is now rising and is a worthwhile investment.
For future performances in gold, projections indicate a global growth of +3.1% during 2016 and +3.4% during 2017, displaying how the value of gold is and will be exponentially increasing in future years.
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