Gold

The Gold Series: The Most Sought After Metal on Earth (Part 1 of 5)

Published

10 years ago

February 24, 2014

Jeff Desjardins

Gold Series Part 1 infographic

The Gold Series Part 1: The Most Sought After Metal on Earth

This infographic, part one in our 2014 Gold Series, introduces the yellow metal and tells the story of how it became the most sought after metal on earth.

Gold was one of the first metals discovered by ancient peoples and eventually gold grew to symbolize both wealth, royalty, and immortality. Gold began to be used as money by many cultures, but the Romans were the first to use it widespread. The rarity, malleability, durability, ease to identify, and intrinsic value of gold made it perfect for money.

While many civilizations throughout the world used gold for money, eventually its role would change with the coming of the gold standard system. In modern history, gold was shaped by events such as Roosevelt’s confiscation order in 1933 and President Nixon ending the direct convertibility of gold to US dollars in 1971. Although gold is no longer the basis of the modern monetary system, there is more gold demand today than ever before.

Check out Part 2 of The 2014 Gold Series on gold supply, geology, and mining.

Presented by: Goldcorp

Also made possible by: Midway Gold, Banks Island Gold, Balmoral Resources, GoldSilver.com, Comstock Mining, and CrushTheStreet.com

Related Topics:history gold gold standard gold facts VC exclusive

Up Next

Pelangio Exploration (TSX-V:PX)

Don't Miss

Global Gold Mine and Deposit Rankings 2013

2 Comments

Mining

Gold vs. S&P 500: Which Has Grown More Over Five Years?

The price of gold has set record highs in 2024, but how has this precious metal performed relative to the S&P 500?

Published

4 days ago

April 16, 2024

Marcus Lu

Gold vs. S&P 500: Which Has Grown More Over Five Years?

This was originally posted on our Voronoi app. Download the app for free on Apple or Android and discover incredible data-driven charts from a variety of trusted sources.

Gold is considered a unique asset due to its enduring value, historical significance, and application in various technologies like computers, spacecraft, and communications equipment.

Commonly regarded as a “safe haven asset”, gold is something investors typically buy to protect themselves during periods of global uncertainty and economic decline.

It is for this reason that gold has performed rather strongly in recent years, and especially in 2024. Persistent inflation combined with multiple wars has driven up demand for gold, helping it set a new all-time high of over $2,400 per ounce.

To put this into perspective, we visualized the performance of gold alongside the S&P 500. See the table below for performance figures as of April 12, 2024.

Asset/Index	1 Yr (%)	5 Yr (%)
🏆 Gold	+16.35	+81.65
💼 S&P 500	+25.21	+76.22

Over the five-year period, gold has climbed an impressive 81.65%, outpacing even the S&P 500.

Get Your Gold at Costco

Perhaps a sign of how high the demand for gold is becoming, wholesale giant Costco is reportedly selling up to $200 million worth of gold bars every month in the United States. The year prior, sales only amounted to $100 million per quarter.

Consumers aren’t the only ones buying gold, either. Central banks around the world have been accumulating gold in very large quantities, likely as a hedge against inflation.

According to the World Gold Council, these institutions bought 1,136 metric tons in 2022, marking the highest level since 1950. Figures for 2023 came in at 1,037 metric tons.