In recent years, you may have noticed that gold has become more valuable and more sought after, thus the huge number of chains offering gold for money. This has left many people wondering as to why gold is so valuable. There are five main reasons as to why this is, as well as why its value will continue to increase in the future.
Though arguable, gold is one of, if not the most attractive element of all 118 in the periodic table. Of all the elements, most are silver in colour, except for copper which can corrode and discolour when exposed to water. Gold, however, has a unique colouration and does not corrode, allowing it to be as desirable as it was 100 years ago as it is today.
Gold is valuable due to its chemical properties. For example, gold cannot be destroyed by: water as it does not corrode, time as it remains recognizable after hundreds, if not thousands of years and fire as its melting point is 1062 degrees Celsius. Not only this, but as a metal, gold can be spread without cracking, stretched without breaking and is extremely rare. Fun fact: all the gold that has ever been found in the world would only fill up two Olympic-sized swimming pools!
Gold is an asset that does not require some else’s liability. It does not need the backing of a bank, government or brokerage firm. This means that it does not have a counterparty risk, and therefore once you have gold in your possession, you don’t need to depend on someone else to fulfil a contract or keep promises to retain its value.
Analysts have had a negative view on gold for years which has harvested a myth that gold isn’t a good long-term investment. This is simply untrue, and it has been proved over the years. Since gold has been given the yes to be freely trade back in 1933, the value has continued to rise and increase over the years.
Gold has many advantages that no other elements on the periodic table do. For example, gold has no time limit and can remain in pristine condition for thousands of years as well as no shelf limit as it does not corrode unlike silver or copper. It is also not possible to print, counterfeit or inflate gold, giving it unique financial traits no other asset has.
If you have some gold stashed away, whether it’s old broken chains or not in the best condition, we would be happy to buy it from you in exchange for cash. To find out more, get in touch with a friendly member of The Cash Shop team by visiting our contact page– we’d love to help!