Black has a wide range of associations. It can be linked with death, mourning, evil magic, and darkness, but it can also symbolize elegance, wealth, restraint, and power. As the first pigment used by artists in prehistory and the first ink used by book printers, black played an important role in the development of art and literature. Today, there is even a black so black that looking at it makes it seem like you are looking at a void.
The King Back in Black
Chapter II, page VII
Up until the 14th century, the finest cloth was dyed with red, blue, or purple dye--not black. But the arrival of high-quality black dyes and the implementation of laws restricting colored cloth to nobility meant that wealthy Italian bankers began wearing black clothes as a sign of importance. Kings all over Europe began to take notice and soon adopted the black style themselves.