Gold is the ubiquitous precious metal. It is prized because unlike silver, it does not tarnish, it is easy to meld and mold, and when polished it has a wonderful luster.
Gold has been bought, traded and sold by people for as long as we've been able to melt and hammer it into a usable form. It was most likely originally used for jewelry, but soon became used as a currency when required. Gold's rarity, durability and usefulness made it one of the first substances that could be really used as a commodity.
Nowadays it is also used in electronics and many technological applications, but is also still prized for jewelry. There are variants of gold as well such as white gold which will match with different styles of dress than yellow gold. Gold compliments diamonds, rubies, sapphires and all manner of precious stones and metals.
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