As an economist, it is not difficult for economics teacher Dirk Loerwald to answer the question about his favourite element: gold.

"There is hardly any other element that has shaped the history of economics as much as gold. People have always been fascinated by it and everyone wants it. Since the 6th century BC, people have been using gold coins as a means of payment, whose value is completely covered by the metal they are made of.Gold has always stood for security and this has remained the case over the years. For many years, most currencies around the world were linked to the gold standard, which was intended to ensure confidence by allowing banknotes to be exchanged for gold in case of doubt.

Even though we no longer have a gold standard today, the world's central banks store large amounts of gold as national reserves for times of crisis or to balance risks. A large stock of gold ensures independence, as gold can be used as a means of payment at any time. With 3,300 tonnes of gold, Germany is the second country in the world with the largest gold reserves. But we are also fascinated by gold in our private lives. Marriages are often sealed with a gold ring, our ideas of pirate treasure are chests full of gold, whoever performs best in their discipline at the Olympics receives a gold medal, and Hans Riegel from Bonn has launched the "Goldbären" (gold bears) as one of the most famous German sweets on the market. All in all, a popular element with a historically high relevance for economic contexts."