Why is Gold So Expensive?

The ever growing question why are the prices of gold so high? why are
the prices of gold so much more than silver?

For a long time, the ratio was set by fiat at 15.5-to-1, meaning
that one troy ounce of gold would buy 15.5 ounces of silver.
If those laws were still followed today, silver would be trading at
$58 per ounce.

However let’s specifically speculate on the price of gold.
Historically, gold was worth between $20 and $35 an ounce, by law,
when the world’s currency was under the “Gold Standard” during the
Breton Woods era. After gold was allowed to trade openly on the free
market in 1975, its price spiked to $850/ounce in 1980. It them
plummeted to $250/ounce in 1981 and continued to trade between
$250/ounce and $500/ounce until 2006. Since 2006, gold has
sky-rocketed to new highs of up to $1,000/ounce, and now regularly
trades between $900 and $1,000 per ounce.