From ancient agricultural societies to contemporary modern ones, gold has been revered as one of the most valuable commodities in human history that has symbolized wealth, power, and stability. Across cultures, civilizations and eons, this yellow metal has been used for a diverse range of purposes from building tombs for emperors, serving as a means of exchange, developing alluring ornaments or simply accumulating savings in the form of bars.
The unique characteristics of gold along with its historical significance, and uniform fondness across cultures led to the establishment of the Gold Standard, which played a pivotal role in the expansion of international trade for a significant period until 1971, when the fiat monetary system was introduced after the NIxon Shock, which suspended the convertibility of US dollars into gold. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
