why gold is so expensive
why gold is so expensive There are several reasons why gold is considered a valuable and expensive commodity: Rarity: Gold is a relatively rare metal, and only a limited amount of it is available in the world. This scarcity makes it more valuable than other metals that are more abundant. Demand: Gold is highly sought after for use in jewelry, as well as for investment purposes. This strong demand drives up the price of gold. Economic conditions: Gold is often seen as a safe-haven investment during times of economic uncertainty, such as during a recession or financial crisis. When people are worried about the value of their currency or other investments, they often turn to gold as a stable and reliable asset, which can increase demand and drive up the price. Industrial uses: Gold is also used in a variety of industrial applications, including electronics and medical equipment. As the demand for these products increases, so does the demand for gold, which can also drive up the price. O