A hundred years ago, the price of an ounce of gold – about 30 grams, that is – was around USD20, and for the preceding 200 years, that price had barely changed. By 1970, it had increased slightly, to about USD35, but since then the price has undergone a dramatic rise. Today, the price of an ounce of gold is more than USD2,300, not far off its highest price ever, which occurred in May 2024. Among other factors, Russia’s invasion of Ukraine and the war in Gaza have significantly impacted gold prices.
In modern times, gold’s highest prices have tended to correlate with periods of economic uncertainty, high inflation, and conflict. The largest ever spike in the price of gold occurred in 1980, when the inflation-adjusted price peaked at USD2,645, as high inflation due to strong oil prices and the Soviet intervention in Afghanistan prompted investors to move into the metal. Gold has been seen as a haven asset during geopolitical tension and market downturns.
▴ In Hinduism, gold signifies purity and prosperity, and gold jewellery has been an intrinsic part of India’s history for thousands of years
▴Plastic ornamental containers that look like gold ingots are popular during festive occasions, but real gold is also serious business in China
Gold is considered to be auspicious, especially in Hindu and Jain cultures.
Denne historien er fra AG 164-utgaven av ASIAN Geographic.
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Denne historien er fra AG 164-utgaven av ASIAN Geographic.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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The Mighty Yellow
Over 5,000 kilometres long and flowing through nine provinces and autonomous regions, the Yellow River is China's second largest, after the Yangtze, while its basin is deemed the cradle of Chinese civilisation
Wildlife Big Yellow Beauty
The popular "amelanistic" form of the Burmese python is considered among the most beautiful snakes - if that's your sort of thing
All That Glitters Is Gold
From Turkey to China, the yellow metal plays a central role in cultural practices and is coveted as a symbol of affluence and status
Chengdu Hotel Spotlight TRIKA TSANG INTERNATIONAL HOTEL
For an authentic taste of Tibet in the heart of Chengdu, the most luxurious option is the majestic Trika Tsang International Hotel.
Conservation Yellow in Peril
While the demand for use in traditional Chinese medicine is putting seahorses under pressure, it is damaging non-selective fishing that is driving depletion
Revealed Doctor Yellow
Japan Railways' special lemony Shinkansen is a rare sight to behold
History Spiritual Rebirth
During the Spanish Golden Age, Portuguese explorer Ferdinand Magellan achieved the first European navigation to Asia via the Pacific, arriving in the Philippines in 1521 and claiming the islands for Spain. But by converting the first Filipinos to Catholicism, Magellan also instigated the Christianisation of the entire archipelago, a spiritual rebirth celebrated through the two most important festivals in the Philippines - Fiesta Señor and Sinulog.
Green Dreams
With its tea plantations and rice paddies, dense jungles and expansive forests, the region is well known as a green paradise. But many of the most impressive Asian landscapes have names you may never have heard of. Journey with us as we reveal just some of the incredible locations that make the rest of the world green with envy!
Life On The Edge
In the Chukotka Autonomous Okrug, in the remote northern Russian Far East, indigenous ethnic groups like the Chukchi and the Yupik live in the most extreme conditions, hunting seals in their traditional kayaks as they have for millennia
The Karakoram Anomaly Decoded
For decades, scientists have believed that glaciers in the Karakoram Range are defying the trend of those across the globe-resisting glacial melt due to human-induced global warming. But as we trek up the Karakoram's second-longest glacier in July, as the United Nations announces the world's hottest ever month on record, does the melting ice beneath our feet suggest the so-called Karakoram Anomaly is slowing? Or is there a ray of hope it will continue to delay the inevitable?
