Gold : $3,189.36 -7.95
Silver : $41.49 +0.13
Platinum : $1,404.38 -1.30
Palladium : $1,324.33 -9.95

What is the history of gold?

Gold has played an important role in human society for thousands of years. Here's a brief history of gold:

  1. Ancient Times: Gold was first used by ancient civilizations such as the Egyptians, Greeks, and Romans for jewelry, ornaments, and coins.

  2. Middle Ages: During the Middle Ages, gold was used as a medium of exchange, and European countries began to establish gold standards for their currencies.

  3. Age of Exploration: The Age of Exploration led to an increase in the demand for gold as Europeans began to discover and exploit gold mines in the Americas and other parts of the world.

  4. Industrial Revolution: During the Industrial Revolution, gold became more important as a store of value and a standard for international trade.

  5. 20th Century: In the 20th century, gold continued to play an important role in the global economy, as it was used as a backing for currencies, a reserve asset for central banks, and a hedge against inflation and economic instability. The gold standard was a monetary system in which the standard economic unit of account, for example the U.S. Dollar, was based on a fixed quantity of gold. With this monetary system, an individual holding some amount of paper money could go to a bank and exchange that money for a fixed amount of gold. The gold standard has been abandoned completely by all countries; a process of abandonment that gradually began around the end of World War I.

  6. Today, gold is still valued for its rarity, durability, and beauty, and it continues to play an important role in financial markets. Central banks around the world have feverishly been buying gold since 2020 and have showed no signs of letting up in 2023. In Canada some regional banks are even starting to match a portion of deposits with physical gold to hedge their clients deposits. Since 2003 gold has increased in price by 417%, beating the stock market on a 20 year comparison.

Nugget Stacker believes every Canadian should hold a portion of their portfolio in gold & silver to create a healthy balance. We strive to offer competitive rates, with free shipping across Canada.