The safe haven of the financial markets is a precious metal that's extremely popular during economic crises.
Gold creates value. It occupies a high position among precious metals. Its rarity, wide industrial use, and historical popularity make gold one of the most sought-after commodities worldwide. Until 1971, the currencies of most Western economies were pegged to the "gold standard". Switzerland was the last country to abandon the gold currency standard. 40% of the Swiss franc was backed by gold until the Alpine nation joined the IMF in 1999.
Gold is the most popular precious metal for investment. The price of gold fluctuates constantly and is often associated with major economic events. Only 10% of gold production is used for technical purposes. 50% of the reserves are used for jewelry, while the remaining 40% is used for investments.