Introduction The word “commodity” is a term meaning “an economic good” (Britannica, 2012) which can be a product or service that can be exchanged or exchanged. Goods vary in type, value, benefits and quality. Among the numerous medium commodities that exist around the world, commodities that have higher values ​​also have their classification as precious commodities. Such precious goods include gold, a precious metal highly prized since ancient times and known for its beauty and scarcity. In this essay I will write about gold as a commodity and discuss the various pros and cons related to this commodity. The History and Ancient Uses of GoldGold has had multiple uses since the past, including its use as currency, as a symbol of wealth and power, and as an ornament and decoration for people (Dunsby, Eckstein & Gaspar, 2010). Even today, gold still performs similar functions to those of the past. In fact, due to the evident progress of technology and science over the centuries, additional functions and new beneficial uses of gold were introduced in several scientific and industrial fields. For example, gold has been introduced into some fields of technology such as the spacecraft industry, where its efficiency as a reflector of solar heat and radiation has proven very useful to NASA (World Gold Council, 2012). The Properties of Gold Unlike most other metals, pure gold has the ability to remain unchanged for centuries without oxidizing and corroding (New Zealand Mint, 2012). This special ability exists because gold is a very non-reactive element, meaning it has the ability to resist oxidation and corrosion (New Zealand... middle of paper... 2, from nzmint.com: http ://www.nzmint.com/bullion/about-gold/importanceNew Zealand Mint (2012) Retrieved January 8, 2012, from nzmint.com: http://www.nzmint.com/. (2012). Retrieved January 16, 2012, from: http://www.orthop.washington.edu/PatientCare/OurServices/Arthritis/Articles/GoldTreatment.aspxWorld Automotive. http://www.gold.org/technology/uses/automotive/World Gold Council (2012) Retrieved January 3, 2012, from gold.org: http://www.gold.org/technology/uses/medicine/World Gold Council (2012). Retrieved January 10, 2012, from gold.org: http://www.gold.org/technology/. uses/space/World Gold Council (2012). ://www.gold.org/technology/why_gold./