Quote of the Day by Christopher Columbus: 'Gold is a wonderful thing. Whoever possesses it is master of all he desires.'

Christopher Columbus (1451–1506) was an Italian explorer and navigator whose voyages, sponsored by Spain, opened the way for European exploration of the Americas. His expeditions reshaped global trade, wealth flows, and power dynamics between continents.

One of the famous quotes of Columbus is 'Gold is a wonderful thing. Whoever possesses it is master of all he desires'.

The quote reflects the immense power gold held in Columbus’s era, when wealth determined influence, survival, and ambition. Gold was not just currency—it was control, opportunity, and authority. The line also reveals how the pursuit of riches drove exploration, conquest, and the reshaping of world history.


In fact, gold still has immense value considering the sharp rise in its value in recent times.

Gold surged past the $5,300-an-ounce mark for the first time on Wednesday, supported by waning confidence in the U.S. dollar and growing unease over the Federal Reserve’s independence, which lifted demand for the safe-haven asset.

Spot gold rose 1.5% to $5,266.22 an ounce by 1225 GMT, after touching an all-time high of $5,311.31 earlier in the session. Prices had already climbed more than 3% in the previous trading day.

U.S. gold futures for February delivery jumped 3.5% to $5,260.40 an ounce.

“Gold’s rally is not driven solely by market nervousness. It also reflects a broader shift in confidence toward a more defensive global monetary and fiscal outlook,” said Linh Tran, senior market analyst at XS.com.

The U.S. dollar hovered near four-year lows after President Donald Trump dismissed concerns over its recent weakness, making dollar-denominated bullion more attractive to overseas investors.

Trump also said he would soon announce his nominee for Federal Reserve chair, adding that interest rates were likely to fall once the new leadership takes over.

“Any candidate put forward is likely to be less resistant to Trump’s pressure than Jerome Powell, a dynamic that clearly benefits gold,” said Nitesh Shah, commodities strategist at WisdomTree.

Gold, which offers no interest yield, typically gains appeal in a low-rate environment. Markets widely expect the Fed to keep rates unchanged at its January policy meeting, which is currently under way.

The precious metal has risen more than 20% so far this year, extending last year’s record-breaking rally. Analysts at Deutsche Bank see prices climbing to $6,000 an ounce in 2025, driven by sustained investment demand.