Its selling point in 2600 BC was pretty special: alleged divinity and an indestructible nature.

Fast forward nearly five millennia and its exclusive appeal has morphed into something rather contemporary: on wintry nights, London's uber-wealthy nightowls can sip it in 24-carat leaf form as part of a £35,000 'Flawless' cocktail in London's Movida nightclub.

Gold really needs no introduction today given its ubiquity in modern society. Yet an extraordinary history that has taken it from precious metal dug out of the ground by ancient Egyptian fingers to key ingredient in a flash 21st century bar drink reveals more than a versatile 'precious metal' desired by millions as a throwaway symbol of wealth.

It shows a remarkable hold on our collective imagination, one that has been mythologised and wrapped up in notions of cultural wealth and health despite eye-popping volatility in its market price.

Lest no one forget, gold is simply a chemical element whose symbol is 'Au' and is found as metal grains or nuggets underground, or in rich deposits from flowing waters. But in such technicality lies a clue to its grip on our desire; 'Au' is from the Latin for aurum, which translates as 'shining dawn'.

Gold's whole history is tied into this reflective quality, its luxuriant allure and dazzling colour making it highly attractive for rituals and ornaments for the Ancient Egyptians.

But its scientific properties have lent it real power: chemically, it is largely unaffected by heat, moisture, air and other corrosive elements.

For early civilisations, this meant it could be a 'store of value' and paved the way for countless opportunities for using gold as payments for goods and services.

The Egyptians' fascination with gold passed to the Greeks and, in turn, the Romans who began mining it devotedly across their Empire; it wasn't until the late 13th century when the Venetians minted the 'Ducat' (and the 'Florin') appeared in Great Britain, that the gold coin began to settle as a key currency.

As European nations fought wars to grow in economic and military might, so gold's importance grew, but it wasn't until its discovery in huge deposits around the world – Brazil, Russia and America all in late 18th century, and South Africa in 1868 – led to 'gold rushes' that created enough wealth for it to develop into a benchmark, or 'standard' for other currencies.

For some fifty years up to the 1930s, a panoply of industrialised countries including Britain, the US, Germany and Holland adopted the 'Gold standard' as their choice of currency 'measure'; quite simply, the worth of their own national currency would be calculated in terms of a fixed weight of gold.

In practice, this meant little exchange rate volatility, which helped foster global trade and ushered in a spurt of economic prosperity.

But the crushingly heavy financial price exacted by the First World War piled pressures onto national currencies, whose value buckled in relation to the Gold standard and forced many to leave.

As the Great Depression took hold of the US in the 1930s and then spread around the world, no country could pin its currency against the Gold Standard.

Its lustre dimmed further in 1944, when towards the close of the Second World War, a new world system of foreign exchange was introduced (named after Bretton Woods in the US where it was signed) and based on fixed rates against…not gold but the US dollar.

Although the greenback was still itself backed by gold, and set at $35 an ounce, it only lasted until 1971 when the US, whose own gold cupboards were looking a little bare at a time when it was facing a huge hole in its domestic budget, abandoned gold altogether.

But while the global money markets are now based on floating currencies, gold's role in the world economy has changed too.

A small role in early transistor development by US telecoms giant AT&T, has led to widespread industrial use in electronics thanks to its conductivity and resistance to corrosion; and can be found in high-quality video, audio and USB cables the world over.

However, gold's dominance today as one of the world's most sought-after materials is down to its symbolism in our 'aspirational' society.

Happily, millennia of cultural baggage have left it in pole position as a reward for achievement; from Olympic gold medals to Nobel prizes through to Academy Awards and the Cannes Film Festival's 'Palme d'Or' for best film.

In the buoyant luxury goods market, gold jewellery can command stratospheric prices thanks both to demand from customers as well as gold's high price in the world's commodity markets.

Sadly, gold also continues to beget greed: targeted in heists such as Brinks Mat in 1983, its ability to be melted down and sold on has long attracted a criminal element.

This appeal has also made it the star subject of countless gangster film plots including The Italian Job, Goldfinger and Three Kings.

Yet it's gold's diversity in our 21st century consumerist society that grants it special status.

Whether it's a tooth in your mouth; part of your food (it even has an E number, E175); or glittering necklace around your partner's neck, gold will find new ways of staying au courant.

Its shine will see to that.