Gold is regarded as a precious metal because it has an intrinsic value. It does not corrode or rust and its malleability allows for it to be formed into various shapes. Gold is also an excellent conductor of electricity, making it ideal for use in electronics. In addition, gold is rare and limited in supply, which makes it more desirable than other metals. Finally, gold is sought after for its aesthetic value and has long been used in jewelry and coins due to its attractive luster and color. As a result of these qualities, gold has become one of the most valuable commodities on the market today. Therefore, it is easy to see why gold is known as a precious metal.