Early civilizations made shrines of gold and equated gods and rulers with this precious metal. It was sought after in their names and dedicated to them. This led to a high value being placed on gold, and it became associated with wealth, power, and beauty. Humans made gold become a metal of extraordinary value long before it was seen as a means of payment or had any real use cases. And even today, gold experts like Harald Seiz have a burning passion for the precious metal.
The value of gold is still high, as it was in ancient times, and with its universal appeal to humans, gold became not only a high-value commodity but also a means of payment. Its density, scarcity, and properties made it popular, and many schools of thought believe that the concept of money was built on the characteristics of gold.
Today, it’s also a means of investment. However, with the general feeling being that gold is meant for the elite, is there an opportunity for poor people to invest in such a high-value commodity? And should the poor even invest in gold?
A shift in mentality
The value of gold, which was passed on by the events of the past, created discrimination between the rich and the poor. Gold investments were never seen as something that the poor can benefit from, but individuals such as Harald Seiz think differently.
Harald Seiz, who is a successful entrepreneur and a gold expert, said: “My mission is to produce the highest quality gold available in the market and make it easily accessible to the masses of honest people around the world at a price point everyone can afford.”
This statement is a clear indication of a change, from the belief that gold is meant for the rich to the emergence of opportunity that’s accommodating to all. With the emergence of technology, investment opportunities came to life, creating avenues for investors to own gold. Various schemes are now available that are tailored to the needs of individuals’ financial capabilities.
Investment choices have been categorized into various forms to enable individuals to acquire gold, and countries such as India, which, as of 2019, was ranked the 49th poorest country in the world, have created means by which its citizens can own gold.
Jewelry, gold savings, and gold coin schemes have been developed and tailored to meet the financial capabilities of many. The government of India launched a smart means of minting coins with varying weight and developed platforms for easy accessibility.
Getting a minted gold coin is now as easy as shopping in an e-commerce store.
Why invest in gold in the first place?
The world has witnessed its fair share of devastating financial crises, from the credit crisis of 1722 to the financial crisis of 2007/2008, over to the current COVID-19 pandemic. These events are examples of scenarios that have showcased the strength of gold, even though not all financial crises positively affect the value of gold.
However, gold has been seen as a safe investment in times of great financial turmoil. Over the years, the value of gold has steadily increased. Today, gold is a prized possession for investors, the value of gold as of March 2020 was around $1,625 per ounce.
The need to invest in gold is ever apparent, as it serves as a protective measure used by individuals and governments. It’s also used as a hedge in the event of currency devaluation or inflation, which is a further indication of the viability of gold.
Gold is a sustainable way of financial independence, a means of financial freedom, and it will be a welcome development to see everyone, regardless of financial status, seek out ways of investing in gold.
The bottom line
Its history portrays the nature of gold, a commodity once rarely seen and marked for the elites, which has now been innovatively brought to the reach of the poor. But the question still remains, should poor people invest in gold?
Investing was never meant for a particular set of people, times have changed, and the poor have now been given the same opportunities as the rich. It might be wise to utilize these opportunities made available by governments and individuals.