Gold Is So Old

One of the earliest adages I got to hear in English was “Old is Gold”. Even though I have never refuted it, I have met it, at most times, with silent skepticism.

But more to the point of this article, it is the converse of this saying that I find to be truer. Gold is old.

Everyone knows that gold has been used in jewelleries since very old times. After bronze, stones and bones, it has been all gold. And it still remains most popular. Too popular, if you ask me.

I feel that, in comparison to the alternatives, gold jewellery is grossly overvalued. It is not as beautiful as it is expensive. If it were, wouldn’t we see more things – cars, houses, furniture, dresses etc – come in golden colors? In fact, the worst dresses I have seen on TV were golden! But gold jewellery, somehow, is always in vogue.

As a case in point, let me pit gold against titanium. Titanium is both stronger and lighter than gold. Titanium is chemically more inert, which makes it safer for skin and more corrosion resistant.  There are electrical techniques that impart titanium brilliant colors. Titanium is relatively abundant and sells for only about $100 per kilo. Despite all this, gold is infinitely more prevalent than titanium as far as jewelleries go.

Until very recently, a country’s currency was valued based on the amount of gold reserve the country had. No diamonds, no perls, just gold! This was until Richard Nixon eliminated the fixed pricing system for gold during the Vietnam War. Can’t believe that the economists couldn’t come up with something more fundamental than gold in a country to value its currency!

Don’t get me wrong, I am not a gold-hater. I like gold. For one, I like it for its superb electrical conductivity. Gold connectors work so wonderfully well in audio and radio frequency equipments. We should leave it for similar scientific and reasonable usage.