Why is Gold Valuable?
Have you ever had friends or family who spoke about investing in gold? Did their conversation ever make you wonder why so many people prefer gold over any other metal? Do you also wish to invest in this specific metal but are still unsure? If the answer to these questions is affirmative, then here are four reasons that will help you understand why gold is so valuable:
1. High Cost of Production
Among the many factors that make Gold valuable, its cost of production is what makes it lead all the other metals. Gold is extracted from the earth like any other metal. However, the money it takes to mine and purify gold is what sets its price in the market. In other words, if you choose to invest in gold, know that your return on investment is going to be profound!
2. Physical Properties
Unlike other metals, gold consists of several significant physical properties. It can be stored as ingots, beaten into sheets, or turned into the thinnest of wires. Besides these amazing properties, the feature that sets gold apart is its ability to resist corrosion. Other metals such as copper and iron tend to oxidize and rust. However, gold retains its original weight and appearance by not reacting with oxygen. Hence, with gold, you can be assured that it’ll maintain its uniformity even a decade later.
3. Gold isn’t going anywhere!
Let’s give gold some credit for staying around since ancient times. Earlier, gold was used to create ornaments for royal families, whereas ancient civilizations paid regard to their dead ones by keeping them in tombs made of gold. Similarly, temples and other sanctuaries were decorated with gold ornaments to show their importance.
Now, did it ever occur to you that perhaps the gold in your possession right now could have been transformed from a royal ornament that existed a century ago?? You see, this is what brings value to gold. It never gets completely consumed like oil, gas, or coal. This resource can be transformed from one thing to another, but it stays forever!
4. Gold prices will only soar higher!
With the world being engulfed by inflation, there’s good news for people who’ve invested in gold coins. The price of gold tends to increase with time, providing investors with exponential growth. However, that shouldn’t worry you as it is never too late to invest.
If you wish to secure vault storage for gold, Orion Metal Exchange has got you covered. We not only provide our clients with the information that they need but also make sure to offer them the best investment experiences. Our team acknowledges your desire to invest in precious metals. So, feel free to reach out to us.