Amongst all the hype surrounding gold, most people are oblivious to the interesting financial history behind the elusive metal. It has made and broken nations, yet little is remembered of the path it took. Here we look at several interesting facts about gold and it’s history.
1. Gold is the most popular precious metal for investments.
2. The price of gold constantly fluctuates and is often linked to major economic events.
3. Most western economies’ currencies were on the “gold standard” until 1971.
5. Gold is no longer the most expensive metal, palladium overtook gold’s value in 2018.
6. King Croesus of Lydia created the first pure gold coins in 540 B.C.
7. Henry VIII, Diocletian and Nero were infamous gold debasers, mixing other metals into gold coins and decreasing their value.
So the next time you see gold, take a moment to reflect upon its colourful history.