Gold has a rich history.
Long before paper money and credit cards, gold was used as a form of currency and a symbol of wealth. The first use of gold as currency occurred in the late 8th century BCE. We’re in the 21st century, and the yellow metal still plays a vital role in the orderly function of markets and commerce.
Gold has been used in the past as a hedge against rising inflation. When the 2007-08 Global Financial Crisis hit, the prices of gold soared. Reason? Investors considered it to be an attractive option to store wealth.