The history of gold

Before the third millennium BC, gold was first recognized by humans in the ancient country of Egypt. Since then, it has been inseparably intertwined with human development. With its dazzling brilliance, gold has become the preferred material for decoration. Before the third millennium BC, gold was first recognized by humans in the ancient country of Egypt. Since then, it has been inseparably intertwined with human development. With its dazzling brilliance, gold has become the preferred material for decoration. With the development of mankind, mankind has gradually left the age of self-sufficiency and entered the era of commodity economy. When human beings need money as a medium of transaction to make trading easier, gold has naturally become the best choice. Seven hundred BC, some coins made of gold and silver alloys appeared in Asia Minor, called amber gold. With the progress of the times, in 600 BC, the Kingdom of Lydia in Asia Minor was first cast out. Later, in about 50 BC, the Roman Empire in Western Europe issued an Anreus gold coin with a portrait of Caesar the Great. When the Roman Empire was in decline, that is, in 400 AD, when the Romans gave up the British rule of the British Isles, they also looted all the gold coins on the islands. As a result, the people’s currencies were insufficient and the prices of goods were high. The fall caused economic chaos.　In 1066 AD, the Norman people conquered the British Isles. In addition to having political power, they also carried out some reforms to the British currency system. For example, the creation of currency unit systems such as the pound sterling, shilling, and penny, and the establishment of a metal-based currency system. At that time, one pound can be exchanged for one pound of pure silver. This silver standard system was only replaced by the recovery standard system in 1377. Under the double standard system, in addition to silver, the backing of currency also uses gold as the standard of currency. After the duplicate standard system was used for several years, the British royal family decided to use the gold standard system. In 1717, the Bank of England officially named the gold price of ounces at 3 pounds, 17 shillings and 10.5 pence. After the implementation of the gold standard system, the price index of the United Kingdom has obviously maintained low fluctuations, and the function of the gold standard system in stabilizing prices and the economy has also been proved.　Since Britain adopted the gold standard, the United States and European countries have also rushed to follow suit. In 1792, the United States adopted a copy system, stipulating that 19.3 dollars can be exchanged for one ounce of gold, but this did not trigger any gold boom. It wasn't until one day in 1848 that a young carpenter named John Marshall accidentally discovered gold leaf while building a sawmill in what is now California, which triggered the Western Gold Rush. This also enabled the once desolate west to develop rapidly. Previous: Eight benefits of investing in gold Next: What is the relationship between the origin and quality of tourmaline