Gold continued to be associated with power and wealth during the Middle Ages, when crowns and jewelry made of the metal were worn by aristocracy and royalty. Gold was found in great quantitieall rummys in the Americas during the 15th century's New World discovery, which significantly increased the world's gold supply. Because of this abundance, the gold standard was established in the 19th century, which correlated the value of a nation's currency with a fixed quantity of gold. The gold standard was abandoned in the 20th century, though, as countries switched to fiat money.

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