History books you read in childhood acquainted you with the concept of using gold for jewelry. Of course, gold has long been used for ornamental purposes, but gold in other forms also has a monetary value. Gold has long been used as a reserve currency for the US dollar.
It is strange to think that someone someday came across this shiny piece of rock, and today gold plays such an important role in this society. Over the years, humans have come up with many ingenious ways to use and extract gold. This certainly changed the nature and value of gold.
Gold's many characteristics set it apart from most other precious metals like silver and platinum. So continue reading as we walk you through the history of this precious metal.
Where Does Gold Come From?
Incas referred to gold as the "Tears of the Sun." The discovery of gold actually occurred in different places in different timelines by different communities because gold is distributed widely throughout the world. One fine day a child noticed a glittery, shiny rock in an inlet, and this is how humankind became aware of the existence of gold.
The existence of gold ore was found in different geological areas. Besides iron and copper, gold played an important part in the progress of the economy and culture. In early civilization, gold was regarded as God. Gold was also used for worship and decorating sacred places back then.
History Of Gold in Canada
If someone is planning to buy precious metal in Canada, gold comes first in mind for its value which is accepted worldwide. Gold can be found across the Canadian Shield, in British Columbia and Nunavut, and as well as on the island of Newfoundland.
Gold was first discovered in Canada in 1823. The history of Gold mining in Canada is not so glorified as it ended up causing environmental damage. So in 2004, the Mining Association of Canada started a movement called 'Towards Sustainable Mining.
This movement highlighted the use and recycling of precious metals in such a way that is safe for the environment. This levied many responsibilities on miners mandating them to minimize the impact of gold extraction on the environment and biodiversity.
The Future Of Gold
From the time of ancient civilizations, gold has been considered wealth, and the value of gold only increased with time. Bullion dealers in Toronto trust mints to ensure the purity of the gold as they play an important role in the country's economy. People buy gold in Toronto as assets because the value of the gold they have will increase so many folds in the future. Gold will surely enhance the monetary standard of the world economy. It is also fair to say that gold will continue to function as a reliable reserve for years to come.
It took a little time for the human race to be aware of the actual worth of the glittery metal they once found in the creek. According to the Bullion dealers in Canada, the value of gold in the global economy will escalate.
This prediction comes as a result of distinct characteristics of gold that include scarcity and uniqueness. Even the history of how gold was discovered and by the time how it became money is really fascinating, like the shiny metal itself.
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