A new era of gold has broken on us. After a decline in the price of gold in the 1980s and the 1990s gold’s value has steadily risen since the turn of the century . For the first time in history it has passed the $1,500 mark for an ounce of gold.
Gold has exercised power for ages. People have been looking for gold since the beginning of mankind . Whole empires have been built on gold. Spanish conquistadores conquered all of Central and South America in order to bring gold back to their home countries. Inca and Maya civilizations worshipped gold and thought it came from the sun. Explorers travelled for thousands of miles in search of the precious metal.
Gold is, once again, in demand . People want to have gold as a kind of security in unstable times. They invest in gold instead of saving their money in banks. Many people argue that since 9/11 the world has become a more dangerous place.
When in 2008 the financial markets collapsed the major currencies of the world became weaker. Investors were no longer sure how safe their money was. They bought more and more gold which made the price of the yellow metal rise .
One of the reasons why gold is so valuable is that it practically cannot be destroyed . It always stays the same and never changes. It can be recycled and afterwards be used for many things. In Iraq poor people collect gold dust and bring it back to jewellery shops to be recycled . Recycling gold is also a big issue in Japan, where gold is collected from old mobile phones and other industrial waste .