Why Is Gold So Important?
Partly because it has been the universal symbol of wealth since before the Lydians invented money. More practically, gold is limited in supply and therefore fairly stable; it is valuable even in small amounts, and thus eminently portable. Unlike paper currencies, it is immune to inflation, loss of value and most other disasters. It is a keystone of the international monetary system, more highly prized than most paper currencies.
What Is the International Monetary System?
It is a series of treaties and gentlemen's agreements among the world's nations about how they will finance their trade with one another....
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