Aurum or Gold is a heavy metal or element that actually falls under the same category that consists of aluminum, copper, zinc, iron, uranium, plutonium and other metals that are naturally formed by nature in natural environments. What makes gold as valuable as it is more than other metals are the characteristics of gold chemically, which is unique in comparison to any other metal. How gold reacts to the standard environment is vastly different than any other metal in the world.
Gold’s valence electrons much like most other metals (Valence are the electrons an atom uses to combine with other elements), are present in more than just a single orbit. What is unusual about gold as a metal is that it is able to form compounds or aurides (a form of oxidization or rusting process) in the process of oxidation gold undertakes a negative charge and leaves he ionic compound it is associated with positively charged. As an example when gold is combined with cesium it creates a positively charged ionic compound that is non metallic in the fornmation of Cesuim Auride or noted in science as CsAu (Aurum is the name for gold in the periodic chemical chart where it is stated as Au). This is the factor that makes gold a unique heavy element, as it is the only metal that does not oxide under normal conditions for eons because of its stability. Their ablity to refrain from chemical reactions in normal environment causes gold to be valued as a cosmetic piece or ornament as it never fades or losses its luster. How it is molded and meant to look is how it will remain long after the demise of its maker. The fact that gold is also scarce has made it to be viewed as a currency that does not lose purchasing power over time.
The fact that gold is scarce and it cannot be created out of thin air much like how paper currency is created during times of inflation when governments bury the deficits created by simply printing money and causing the value of the currency to fall, the amount of gold available is limited. Annual production of gold via mining is about 2,500 tons and this amount has been falling from year to year. Couple with the rising world population, gold is becoming scarcer. This fact has driven most people to buy gold coins, gold bullion and gold jewelry in an attempt to secure their hard earned assets and net worth.
This behavior is evident in places such as Melbourne, Australia where you can see cash for gold Melbourne shops popping up everywhere for people to sell and buy gold. They say the market has grown in more recent times during the GFC.