Sociological and psychological factors that keep gold valuable

Sociological and psychological factors that keep gold valuable

When the average person thinks of gold, they probably envision a yellow metal that can be made into jewellery, or perhaps a shiny coin. Or they think about the countless hours they have spent tracking metrics like gold price today Jhansi or Kolkata for making an investment. While these are common properties of gold, there are many other aspects of this mineral that are relatively unknown to the general population.

For example, did you know that gold is extremely ductile and malleable? It is possible to hammer one ounce of gold into a thin sheet that covers about 100 square feet. Gold is also inert (non-reactive) and does not corrode over time. This makes it an excellent conductor for electricity and heat. Compared to copper, gold is one of the best conductors available. Gold’s relative scarcity and historical, and cultural value make it a perfect commodity to preserve value over time.

The social and psychological aspects play a key role in why gold is the most sought after precious metal in history. Two such important aspects are:

Important in religions

Gold has been taken to be the traditional metal of the gods. The reason this is so is that in ancient Greece gold was scarce and valuable, while copper and bronze were easy to find and not especially valuable. It was therefore natural to assume that in the early days of civilization, when copper was abundant and no one knew how valuable it would later become, gold must have been worshipped by everyone at first.

In Indian mythology, gold has been associated with Goddess Lakshmi due to its rich colour and shine. The association of gold with Goddess Lakshmi comes from the fact that she stands for wealth, prosperity and beauty.

Gold is also considered to be auspicious in other religions besides Hinduism. In Christianity, for instance, it denotes divinity, virtue and purity of thought; in Judaism, it stands for holiness; in Islam, it is linked to generosity; in Taoism it represents perfection. This is why around the time whenever there is a major religious festival you would see a spike in the prices at the place where the religious ceremony is happening. You could check this for yourself, for instance if there is a religious festival in Ratlam you can look up gold rate in Ratlam to see the price variations over a week’s time. See more.

Gold has been considered a precious metal since ancient times because it does not corrode or rust easily. It has also been said that gold was valued by early humans because of its rarity as well as its beauty and permanence.

It is considered a feel-good metal

Gold is a feel-good metal. It is the metal of romance and grand passions, of opulence and luxury, of power and prestige. In many parts of the world, gold is seen as a symbol of auspicious and good times. The yellow colour of gold represents good fortune and wealth; it also represents happiness and success.

In India, for instance, gold jewellery is considered auspicious for weddings and other important family celebrations. Indian customs demand that the bride wear gold on her wedding day.

In China too, people believe that wearing gold brings good luck and happiness. Gold is also believed to have healing powers in Chinese culture.

Gold’s importance holds true across various cultures and civilizations. The strong symbolic meaning associated with the gold makes it a unique commodity – one that transcends time, borders and cultures.

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