The Many Uses of Gold Is gold a mineral or metal? In a nutshell, gold is classifiable both as a mineral and a metal. Its rarity, beautiful appearance, and unique characteristics contribute to its very high value.
So far, we have only been able to obtain gold through mining and recycling. While it’s possible to produce gold artificially through nuclear reactions, the process is very costly and not commercially feasible.
The combined physical properties of gold also make it useful for many different applications. Let’s explore some of its uses.
Dentistry The durable, non-corrosive, and non-toxic characteristics of gold make it useful in dental applications. Gold use in dentistry dates back to nearly four millennia. Dentists have used it for bridgework, crowns, and filling. However, gold’s steep cost and the rise of better alternatives have caused a decline in its dentistry usage.
Aerospace Airplanes, space ships, space satellites, and even astronaut uniforms have gold in them. Gold’s reflective qualities help stabilize the temperature of aircraft and reflect harmful radiation. Without a gold coating, the darker-colored parts of a structure absorb more heat, resulting in faster wear and tear.
Gold can also act as lubrication for mechanical parts. Many common organic lubricants become unstable and break down much faster in space. Once again, the cause is space’s intense radiation and heat. Gold’s highly malleable nature allows engineers to transform it into thin films that can coat and protect moving components. Under a microscope, the molecules of gold slide among each other when under friction, creating a lubricating action.
Medicine Gold has a high potential for medical purposes. For instance, it has seen plenty of uses in medical testing and imaging. Many diagnostic tests, like those for HIV-AIDS, malaria, syphilis, and African sleeping sickness, have gold nanoparticle components. One research team recently developed a universal test for cancer made from gold, taking only ten minutes to conduct with very few materials needed.
Gold nanoparticles can also act as medication vehicles that target specific areas in the body. This function gives it plenty of potential in cancer treatments and other chronic illnesses.
Electronics Despite the high cost of gold, its properties still ensure a high demand by the electronics industry. As we’ve mentioned, gold’s high conductivity makes it useful as an electronic component. Many gadgets, like phones and computers, have gold in them. In fact, almost every device that requires consistent electronic connections utilizes this material. While silver conducts electricity better than gold, the latter doesn’t tarnish or oxidize over time.
Art and Architecture gold chalices to symbolize gold uses on art With gold being the most malleable metal, it can make for a beautiful and corrosion-resistant adornment. It’s possible to beat gold into incredibly thin sheets and use it to cover the surfaces of buildings and art pieces. Many American state capitols have gold-covered domes. You can also find gold leaf embellishments in both historical and modern paintings.
Jewelry Thanks to its malleability and beauty, humans have used gold as jewelry throughout history. Unlike other metals, gold doesn’t tarnish or rust when exposed to moisture and air. It’s also able to form alloys with other metals, giving metallurgists and jewelers more freedom to change its strength and color.
Awards Musicians yearn for a gold-certified record. Athletes strive for gold in the Olympic games. With gold being so highly valued, many organizations use it to make medals and trophies. Using gold awards adds prestige and gravity to winning a contest or reaching a milestone.
Food and Drink Gold is tasteless, non-toxic, and passes through the body easily. While not very practical, gold is becoming a very popular garnish for both food and drink. A little bit of gold sheeting adds a touch of extravagance to any dish.
Gold for Investing Over the years, gold has turned into a potential investment vehicle because of its high value. Some of the most common gold investments come in the form of bars, ingots, and coins. Gold IRAs are also becoming a very popular form of investment.
Why the interest in gold and precious metals? Unlike traditional investment vehicles like stocks or bonds, gold has several unique benefits.
Increasing Demand Over the years, the growing wealth of rising market economies boosted gold’s demand. This phenomenon stretches across the globe, not just the U.S. For instance, India is one of the biggest gold consumers, especially during the October wedding season. In China, gold bars have always been a traditional form of saving wealth.
Inherent Value Gold as a precious metal has a value that is not influenced by inflation the same way traditional currencies like the dollar are affected. This characteristic makes gold and other precious metals a reliable safeguard against inflation. Even during a crisis in which traditional assets are negatively affected, gold remains strong, and it may even raise the value of your gold portfolio instead of hurting it.
Excellent Liquidity Another factor that drives precious metal investments is their liquidity. When you invest, the ease of buying and selling the asset should be one of your primary concerns. With over billions of dollars in daily trades, gold is one of the most straightforward assets to buy and sell.
The benefits of gold make it lucrative for anyone interested in diversifying their investment portfolio. If you want to know more about making precious-metal investments, feel free to contact us at Learn About Gold, your source for Gold IRA information.
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