It is quite a valuable commodity, and many of the world’s nations have stocked up on gold bullion in order to protect their economies from any adverse trading conditions.
You might not realise it, but we all rely on gold quite a lot; not just to make us look great at social gatherings or to show off how wealthy we are, but without gold much of what we do in our daily lives just wouldn’t happen! Not convinced? You need to check out these 6 reasons why!
None of your electronic gadgets would work
Gold is used by the semiconductor industry as this precious metal is a great conductor of electricity.
If you take a look at the internals of any computer, television, smartphone or any electronic gadget, you will see that the printed circuit boards use a thin layer of gold on them. Imagine a life without the Internet or Coronation Street?
Spandau Ballet would have one less hit
For those of you that are into music from the 1980s and 90s, you will be fully aware that one of the most-popular bands to emerge from the New Romantic era is Spandau Ballet.
One of the best-known songs from Spandau Ballet is, of course, Gold. Singing a song about silver, palladium or any other precious metal doesn’t have the same effect as gold!
Jewellery wouldn’t look so “bling”
Don’t get me wrong, I like silver jewellery as much as the next person does, but gold is the precious metal of choice that billions of people around the world choose to adorn their bodies.
For centuries, gold has always been a precious metal that has become synonymous with attractive style and fashion.
People wouldn’t have a backup to cash
Ever since records began, nations around the world have been stocking up on physical reserves of gold.
In the event of a severe financial crisis, such as a recession, governments can sell their stocks of gold in order to prevent any economic disasters from happening. In the event that cash no longer exists, gold can instead be traded for goods and services.
5. Some people that eat gold might go hungry
I’m just kidding; people don’t eat gold! If they did, they would be considerably broke and unwell!
But some people use gold flakes for decoration around food, and so their dishes might look “boring” without gold adorning them!
We would have to find a new measure of wealth
Some wealthy people love to show off the fact that they are rich beyond most people’s wildest dreams, and one way for them to do so is to adorn their homes full of gold objects.
If there were no gold in the world, they would have to settle for “second best” (silver)!