What is Gold IRA? As you would have already guessed, it is the kind of retirement plan that uses gold as your insurance. But why gold? Gold is a kind of metal that has been considered precious for centuries. Kings and queens acquired them and flaunted them as a show of their wealth. Today, people still buy gold for a similar reason. The value of gold is unquestionable. In fact, one can even say that it is a universal currency. You cannot use your paper money to buy goods anywhere because people do not recognize its value internationally. Gold, however, is a kind of currency that everyone understands.