Our primal instinct for gold

The yellow metal has been a store of value since the Stone Age, says Dominic Frisby.

Pre-Columbian Inca gold ornamental adornments headpieces headdresses archaeological artifacts art artwork Larco Museum, Lima, Peru.
Pre-Columbian Inca gold ornamental adornments headpieces headdresses archaeological artifacts art artwork Larco Museum, Lima, Peru.
(Image credit: ©Alamy)

As prehistoric man hunted and gathered his way through the Stone Age, he might have come across six native metals (those that occur in nature in a relatively pure state): silver, tin, lead, iron, copper and gold. Gold appeared in river beds. Nuggets, mixed in with sediment, were relatively easy to find and shape. Gold doesn’t naturally combine with other metals, so it is easy to identify. It shone. People adorned themselves with it. The first records of copper use came tens of thousands of years later. Lead, tin and iron’s first use followed, when advances in metallurgy took us into the Bronze Age. 

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Dominic Frisby
MoneyWeek columnist