Gold jewelry is nice. Because gold does not corrode it is very valuable to electronics. Other than that, what true value does gold have? What function does it serve in our society? You can not eat it. It would be worthless as a fuel.
So than why do we put so much value on it?
Granted gold is precious, because it is rare. Gold is a byproduct of a supernova. During supernova heavy elements such as lead and mercury are produced. Sometimes gold is produced but it is a rare occurrence. On occasion these gold particles clump together with other particles and form planets that are habitable by life forms. You must realize that this is an exceptionally rare circumstances, and Earth in such a place.
Gold is very malleable. It can be bent and shaped, and beaten in to layers so thin they are translucent without breaking. To primitive and current societies gold had/has an ornamental value, however as a civilization becomes more technologically advanced, gold has a more practical value. Even with its new found values, gold is still an exceptionally rare compound. there are other scientifically altered components that would work as well. So, why do we cherish it so much?
According to a Sumerian myth, interpreters such as Zechana Sitchin, suggest aliens called the Annunaki, came down from the planet Nibiru (Babylonian astronomy) thousands of years, before mankind, to mine Earths gold. They needed gold to fix their planet’s atmosphere. They got fed up with the labor intensive activity themselves so they decided to create a slave race in their image. That slave race, is now the Human Race.
According to Sitchin we were created in their image and too multiply, creating a constant supply of labor. Initially, they set themselves up as gods and ruled as such and gave rise to our early religions such as those in Egyptian and Hebrew culture. Perhaps at some point they collected enough gold for their needs and went on their merry way back home. Perhaps this gave rise to the Egyptian pharaoh cult, which is why they collected and hoarded gold to take with them to the afterlife. Perhaps we find gold so valuable, because it is genetically instilled in us to collect gold. That the governments of today, like the ancient pharaoh’s, hoard it for the same reason, coded instructions in our DNA.
While this interpretation by Sitchin seems somewhat far fetched, it can be insightful into why we put so much value on a chunk of metal, chemical element of atomic number 79.