Cover Why does gold hold such a timeless appeal as an investment? (Photo: ChatGPT)
Why does gold hold such a timeless appeal as an investment? (Photo: ChatGPT)
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Whether slipped onto a wrist, stashed in a safe or tapped through an app, gold remains one of the few investments that is admired as much as it is protected
For something so ancient, gold remains remarkably modern—especially now. As of mid-2025, amidst escalating geopolitical tensions and increasingly cautious central banks, gold prices have surged past US$3,500 an ounce, appreciating by 30 percent over the last two years. This rise is driven in large part by the unpredictable nature of paper currencies. Looking ahead, analysts from various financial institutions are eyeing even loftier targets, with some forecasting that the yellow metal could surpass US$4,000 by mid-2026.
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From the pharaohs of Egypt to the hushed vaults of Zurich, gold has long embodied permanence, prosperity and power. It has backed empires, crowned monarchs and adorned wrists with quiet authority. Today, it continues to serve as a hedge against uncertainty, a globally recognised store of value, a powerful cultural symbol and an increasingly fashionable vehicle for smart investing.
But how did this shimmering metal evolve from sacred object to modern-day portfolio staple? To understand the enduring cachet of gold—whether stored in a family vault or clasped around a wrist—let’s look at its history.
Gold standard: From temples and tombs to currency
Above The tombs of Egyptian pharaohs were filled with gold, a testament to the value it held in ancient times (Photo: Pixabay via Pexels)
The tombs of Egyptian pharaohs were filled with gold, a testament to the value it held in ancient times (Photo: Pixabay via Pexels)
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The story of gold begins not in Wall Street portfolios but in Mesopotamian temples and Egyptian tombs. As early as 2600 BCE, gold was used to fashion funerary masks, religious idols and later, coins. The Lydians, a minor kingdom in what is now western Turkey, are credited with minting the first gold coins around 600 BCE. The appeal of the precious metal wasn’t just its rarity. Rather, it was its durability, malleability and shimmer that made it ideal for both gods and governments. By the era of the Roman Empire, gold had become the de facto international currency.
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Fast forward to the 19th century, and the world formalised its obsession through the Gold Standard, a system where currencies were directly tied to a fixed quantity of gold. The idea was simple: gold meant trust. Governments couldn’t print it on a whim, which gave it stability. That lasted until the mid-20th century, when the postwar Bretton Woods system began to fray, and the US unpegged the dollar from gold in 1971.
Gold in the 21st century: How central banks and individuals still buy in
Despite no longer serving as the foundation of actual money, gold has never lost its lustre. In fact, it’s undergoing a renaissance. Today, central banks, especially in Asia, are bolstering their gold reserves to hedge against geopolitical risk. The People’s Bank of China and the Reserve Bank of India have steadily increased their holdings, viewing the metal as a buffer against dollar volatility and global instability.
On a more personal level, gold remains deeply embedded in daily life. In India and the Middle East, jewellery is not merely decorative—it’s a form of mobile wealth. Families measure security not just in bank accounts, but in bangles and bridal sets that travel across generations and borders. In East Asia, gifting gold during weddings and Lunar New Year celebrations is both a meaningful cultural gesture and a savvy investment move.
How to invest in gold in modern times
Above Jewellery, such as these Cartier LOVE rings, can incorporate gold as an intrinsic part of its design (Photo: Nimble Video Productions Sydney via Pexels)
Jewellery, such as these Cartier LOVE rings, can incorporate gold as an intrinsic part of its design (Photo: Nimble Video Productions Sydney via Pexels)
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Where does it all go? Beyond the Fort Knoxes of the world, gold is held in private Swiss vaults, Hong Kong safes and, in more humble yet no less meaningful forms, in bedside drawers and family altars.
In Thailand’s Yaowarat gold shops, prices blink hourly like exchange rates. In Manila’s Chinatown, families buy infant-sized pendants—not for looks, but as a newborn’s first investment. In Japan, you can eat your wealth: gold-leaf-covered ice cream is a luxury snack. In South Korea, gold spoons are still gifted on a child’s first birthday to signal health, wealth and luck.
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All over the world, here’s how people acquire and store this precious metal:
Gold jewellery as portable, wearable wealth
For those who prefer tactile assets, jewellers and watchmakers are offering pieces that combine elegance with purpose. From solid gold timepieces to discreet pendants with QR-code authentication, this new wave of wearable gold serves both as ornament and insurance. In countries such as India, Vietnam and the Philippines, family-run gold shops offer daily price updates and buy-back options, effectively functioning as community banks.
Gold bars and coins
There is an undeniable appeal to the physicality of gold as an asset. In a few locations around China, Singapore, Hong Kong, Dubai and Canada, gold ATMs dispense mini-ingots instead of cash. Companies such as Degussa and PAMP Suisse have become trusted names for investors seeking everything from bullion bars to coin collections, offering in-person retail services as well as secure storage options. Switzerland’s PAMP Suisse in particular is revered for its finely crafted bars—particularly the iconic Lady Fortuna series—and cutting-edge anti-counterfeiting technology. Both companies cater to discerning investors who value direct control over their assets, and their presence in markets like Singapore and Hong Kong underscores Asia’s growing appetite for physical gold.
Digital gold and eTFs
Younger, tech-savvy investors in India, Indonesia and South Korea are turning to digital gold—backed by physical reserves but traded via apps. Platforms like Pluang (Indonesia), Paytm Gold and PhonePe Gold (India) allow fractional investments, enabling users to buy gold by the gram. Meanwhile, ETFs such as Nippon India Gold ETF and CSOP Gold Futures ETF in Hong Kong offer exposure to gold prices without the need for physical handling.
Vaulting services and other safe options
In Singapore, private vaulting services like Le Freeport and Silver Bullion offer air-tight security and even insurance options. These aren’t just vaults—they’re curated vault experiences, often paired with concierge services and wealth advisory. Elsewhere in Asia, Japan and Korea’s high net worth individuals often opt for bank-safe deposit boxes, while younger investors might choose crypto-gold hybrids, like blockchain-tracked gold certificates, to keep their gold safe.
Why gold endures
Above Gold carries both emotional and empirical value
(Photo: rc.xyz NFT gallery/Unsplash)
Gold carries both emotional and empirical value (Photo: rc.xyz NFT gallery/Unsplash)
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What makes gold unique—beyond its atomic number—is its dual nature, offering both emotional and empirical value. It marks time and memory: marriages, empires, market crashes. Gold is stable: it does not explode in value or crash overnight. It endures.
In a world obsessed with speed, gold offers a different kind of promise. It doesn’t aim for the moon—it assures that when the moon turns red and markets tremble, you’ll still have something solid in your hand. Whether in the form of a coin, a Cartier bracelet or a sealed ounce of bullion, gold remains the grown-up’s fallback: timeless, universal and always just a little bit glamorous.
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