Gold, beauty, and power have long been associated. Gold-shaped shrines and idols were prevalent in ancient times, and gold’s relationship with the creators, immortality, and riches was shared by many civilizations across the world. Here is a bit about the history and future of gold.
Future Of Gold
Let us take a closer look at what the situation was a decade ago. We are all aware of how the price of gold was reaching heights post-summer in 2007 and back in 2008-2009 during the banking crisis. Gold continued to rise and reached a peak in 2011, during which time the price of gold doubled. But after the peak in 2011, trading and investment turned bearish.
A globally observed phenomenon in the investment sector pertaining to investors, capitalists, depositors, and financers, as it will deem an asset far too expensive and accordingly, lose interest or wait for an opportunity with something that is undervalued.
In the year 2015, the gold market touched the bottom line, and in less than a year in 2016, it picked up the pace due to economic and political uncertainty and challenges contemplated globally.
The graph continued to rise, and it became monotonous during 2017 amid ongoing tensions between nations over nuclear missile testing when there was a cryptocurrency boom. Summer 2019 saw gold prices climb to new all-time records in many currencies.
With the coronavirus outbreak in Wuhan, China, at the beginning of 2020, no one knew what would happen. The pandemic and the global lockdown affected markets and caused turmoil in the markets. The US, which is the most powerful country in the world, was hit hard, making people wonder how other countries with weak economies are handling the pandemic crisis.
In the last few months, the gold price has shown different shades by reaching different heights; from getting positive gains, sometimes surpassing the resistance, losing its gains, and other times reviving again. There are no guarantees as to whether this trend will continue. The graph of gold going up would certainly not imply that it would keep going up for months to come.
Investors, regular dealers, and individuals are advised to conduct their own research. Taking the financial advisor’s opinion, and being familiar with updated news, information, and current affairs will make a person learn the importance of these simple yet significant factors affecting the pricing of gold and can help them choose accordingly with these developments.
Also Read: 30+ Amazing Facts about gold which will also give a push to the history and future of gold.
A Bit Of Gold Antecedent
Yes, it is an interesting and intriguing fact that gold dates back centuries!!!
Are we aware of it? Or are we just using gold as jewelry and as an investment plan?
Gold dates back centuries. The earliest recorded metal employed by humans appears to be gold. Small amounts of natural gold were found in Spanish caves around 40,000 BC. Early pre-dynastic Egyptians in the fifth millennium BC and the beginning of the fourth millennium BC found gold artifacts.
Since the 4th millennium BC in history, gold items have been found in the Balkans, which are the Balkan Peninsula and Southeast Europe. The Varna Necropolis, near Lake Varna in Bulgaria, which is thought to be the earliest “well-dated” source of gold artifacts, is where some of the earliest gold artifacts were found.
During the 1990s, gold artifacts were found in the Wadi Qana cave cemetery of the 4th millennium BC in the West Bank, which is now in Israel. Central Europe also had gold artifacts like golden hats, pallets, and the Nebra Disk.
The oldest known map of a gold mine is from the Dynasty of Ancient Egypt (1320–1200 BC), which was in the 19th century. The first written information about gold was recorded in the 12th Dynasty, which was around 1900 BC.
Gold was written about in Egyptian hieroglyphs as early as 2600 BC. King Tushratta of Mitanni said that gold was “more common than dirt” in Egypt.
Egypt, and especially Nubia, had the resources and capital to brand major gold-producing areas for much of history, and the future of gold was still there. The Turin Papyrus, one of the first and oldest maps we know of, shows the layout of a gold mine in Nubia and gives some ideas about the area’s geology.