For millennia, gold has captivated people across the globe, not only for its beauty and value but for its deep cultural and symbolic meaning.
Woven into traditions, rituals, and belief systems, gold surpasses its role as a precious metal to become a marker of identity, spirituality, and heritage.
From ancient ceremonies to modern milestones, gold plays a central role in how societies express status, honour, and connection. In Australia and across the countries we trade with, gold holds a unique significance, shaped by cultural beliefs and historical context.
China: Longevity, Prosperity, and Celebration
Golden wedding bracelets with traditional Chinese wedding gown.
Gold has long been revered in Chinese culture, symbolising wealth, success, and good fortune. Rooted in over 5,000 years of tradition, gold is widely exchanged during Lunar New Year celebrations, weddings, and milestone birthdays.
Gold jewellery, especially in the form of dragons, phoenixes, and coins, is given to bless the recipient with longevity and prosperity. In Chinese weddings, gold bangles and necklaces are often gifted from elders to newlyweds as a sign of family heritage and financial security.
Beyond jewellery, gold is also used in traditional medicine, particularly as gold leaf in tonics believed to promote vitality. In architecture, gold detailing often decorates temples and statues, signifying reverence and spiritual protection. China is also one of the largest holders of gold reserves globally, using it as a store of national wealth and a hedge against economic uncertainty.
India: Ritual, Beauty, and Devotion
Sikh Gurdwara Golden Temple (Harmandir Sahib). Amritsar, Punjab, India
India is the world’s largest consumer of gold, and its role in cultural life is unparalleled. More than a financial asset, gold in India is a sacred part of religious rituals, festivals like Diwali, and life events such as weddings.
Women often wear gold as a symbol of status, family honour, and protection. Bridal jewellery is especially significant, often passed down through generations and worn during traditional Hindu ceremonies.
Gold is also prominent in religious ceremonies and temple architecture, where deities are adorned in gold and offerings include gold coins or leaf. In Ayurvedic medicine, gold is believed to have healing properties and is used in various herbal formulations. With cultural reverence so strong, gold remains a deeply embedded part of Indian identity, both spiritually and economically.
Middle East: Gold as a Statement of Prestige
In many Middle Eastern cultures, gold is associated with wealth, generosity, and social prestige. It's worn during major life events like weddings, where dowries and gifts are exchanged in the form of elaborate gold jewellery.
Items like heavy necklaces, bangles, and intricate headpieces are handed down through families and valued for their heritage. Jewellery design in the region is often elaborate and region-specific, reflecting centuries of craftsmanship.
Gold also plays a key role in Islamic finance, being a permissible (halal) investment that offers security and value. In cities like Dubai, gold is central to tourism, trade, and identity, symbolised by its famous gold souks and international gold markets.
Africa: Spirituality and Royalty
Across various African cultures, gold symbolises divine power, spiritual authority, and economic wealth. In Ghana, the Ashanti people have a long history of using gold to adorn royalty and mark sacred rituals. The iconic Golden Stool of the Ashanti kingdom is believed to house the soul of the nation.
Historically, gold dust served as currency in West African trade routes, and elaborate gold regalia remains a part of royal ceremonies today. Gold was, and still is used in funerals, to honour ancestors and guide spirits to the afterlife.
In modern times, many African nations continue to rely on gold mining as an economic driver. However, initiatives to combine mining with sustainable development and cultural preservation are increasingly important across the continent.
Australia Today: A Diverse Gold Culture
The Lexus Melbourne Cup Trophy 2024
With a multicultural population and deepening connections to trading partners around the world, Australia's relationship with gold is as diverse as its people. Whether it’s a gold wedding band, a treasured heirloom, or jewellery worn during cultural celebrations, gold connects Australians to their heritage, faith, and family.
Gold is also used in national awards, commemorative coins produced by The Perth Mint, and as a core part of Australia’s investment and superannuation portfolios. An instance of this is, gold mined by Westgold Resources and then refined by ABC Refinery plays a special role in one of Australia’s most iconic sporting traditions — the Lexus Melbourne Cup. The prestigious trophy, often dubbed “the race that stops a nation,” is crafted using solid gold sourced from Westgold’s Western Australian operations, then refined and poured by ABC Refinery in New South Wales. Each year, the trophy requires around 1.65 kilograms of 18-carat gold, representing not just sporting excellence but also the craftsmanship and quality of Australia’s gold industry.
The Future of Gold and Culture
Gold’s beauty may be universal, but its meaning is deeply personal. As we continue to mine, refine, and wear this extraordinary metal, it’s important to reflect on the rich cultural perspectives that give gold its depth and soul. From ancient rituals to modern investment, gold remains a living symbol of power, connection, and legacy.