Gold has a lot of practical applications now (although is of course still treated as a ‘precious’ metal of value), but hundreds of years ago it was just a shiny metal. Why did it demand value, because of it’s rarity? Why not copper, because it was too easily found? What made it valuable ahead of other similar metals?
One of the answers is colloidal gold. It was not just a shiny metal, it was used for many purposes, including drinking water with microscopic specks of it (as weirdly as it sounds). According to Wikipedia:
Edit: it’s worth mentioning that it’s not so weird to imagine if we consider that our diet requirements include many metals, such as copper (important to the hair), zinc and, especially, iron which composes our blood (even though it’s a different atom of iron than the iron from metallurgy, it’s “iron” anyways).