Uses of Gold: Apart From Being a Currency, What Else Can Gold Do?
Due to its nature, gold has various special properties, which results in so many gold use-cases.
Of all the minerals that come from mining, none has more uses than gold. Due to its nature, gold has various special properties, which results in so many gold use cases.
Gold conducts electricity, does not tarnish, alloys with many other metals is very easy to work, it can be hammered and melted, has an appealing color, and a bright luster. It is a special metal alluring the human mind.
Gold Use Cases
▪️ Jewelry
According to statistic data, jewelry is the most standard uses of gold since about 80% of gold is in it. Because of its luster, shine, age and conditions resistance most cultures use gold for jewelry needs. Apart from that, people worldwide have considered gold as a symbol of prosperity and wealth since ancient times.
▪️ Finance and Investing
There is no need to say that finances and investing are spheres with a high return value. Apart from using gold as currency for centuries, investors regard gold as a hedge in inflationary times. Political instabilities, economic collapses are the times when gold demand is the highest. In the limelight of recent events worldwide, more and more investors all over the world are swarming to add gold bars to their portfolio.
▪️ Medicine
Another most important uses of gold are in medicine and dentistry. That is mostly because of its excellent performance and aesthetic appeal. Dentists use gold alloys for fillings, crowns, bridges, and orthodontic appliances because it is chemically inert, non-allergenic, and easy can easily take shapes. Also, it is chemically passive and doesn’t react when mixed with other metals.
▪️ Electronics and Computers
The most significant industrial uses of gold are in the manufacture of electronics. Gold is of the top metals when it comes to being good conductors of electricity. Since gold can carry electrical charges easily, there is always a portion of it in all electrical devices. Mobile phones, television sets, GPS devices, computers, laptops, calculators, and also connectors, switch and relay contacts, soldered joints, connecting wires, and strips are not a full list of electronics where gold can be found.
▪️ Aerospace
NASA uses gold in every space vehicle it launches. Gold is a perfect connector and a dependable conductor. In addition, many parts of aerospace vehicles have gold-coated polyester film, which reflects infrared radiation and helps stabilize the temperature of the vehicle. Gold also serves as a lubricant between mechanical parts.
The Future of Gold
Most of the gold use cases today have appeared quite recently. Since society requires more reliable materials, this trend is likely to continue, and gold demand will further increase. The combination of rising demand, lack of available substitutes, and limited supply will probably cause the value of gold to increase over time.
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Originally published at https://blog.novemgold.com on November 26, 2019.
