How much Gold is Gold!
Gold has dominated the world since before the introduction of currency. It has great influence beyond its use as an ornament. A strong pillar of the economy. Many novels and movies have been made based on various incidents related to this gold. Today we will discuss one such precious mineral.
Archaeologists, various experts or researchers or historians do not have a solid foundation yet, as to when it was discovered. However, there is a popular belief that this metal was first found by the ancient Egyptians around 2450 BC.
It has been credited to an Egyptian alchemist named Zosimos who, while mining for something else, chanced upon gold in a region.
Therefore, as hypothesized in one model, most of the gold in the Earth’s crust and mantle is thought to have been delivered to Earth by asteroid impacts during the Late Heavy Bombardment, about 4 billion years ago.
Kadphises II was the Kushana emperor to first introduce gold coinage, in addition to the existing copper and silver coinage. Most of the gold seems to have been obtained through trade with the Roman Empire. Since then, the economic use of gold really began.
We are no longer within the rules and regulations of the ancient world. We are in the age of modern technology. Now let’s see how the use of gold still reigns in the age of technology.
Many nations’ governments still believe that holding gold provides some degree of stability to their currencies. Gold acts as a safeguard and hedge against inflation, which helps boost confidence in a nation’s economy.
A gold reserve is the gold held by a country’s central bank, acting as a backup for financial promises and a store of value. many nations, stores some of its gold reserves in foreign vaults to spread out risk and facilitate international trading. in more deep thought, A gold reserve is the gold held by a national central bank, intended mainly as a guarantee to redeem promises to pay depositors, note holders (e.g. paper money), or trading peers, during the eras of the gold standard, and also as a store of value, or to support the value of the national currency.
Several countries in the world have reserves of this gold. Among them are the banks of USA, UK, and French, Switzerland and Germany.
Russia and China are the world’s largest gold producer, and its gold is known for its high purity. The gold produced in China is usually between 18 and 24 karats, with some mines producing gold that is 99.99% pure.
The United States holds the world’s largest stockpile of gold reserves by a considerable margin of over 8,133 metric tons ($480.84 billion) s. The U.S. government has almost as many reserves as Germany, Italy, and France, which are the next three largest gold-holding countries combined. after other countries accordingly.
Germany: 3,355 metric tons ($198.35 billion), Italy: 2,452 metric tons ($144.97 billion), France: 2,437 metric tons ($144.08 billion), Russia: 2,299 metric tons ($135.92 billion), China: 1,948 metric tons ($115.17 billion)
anyway, Gold is always part of our life's since invented, now a days it is also use in food and drugs, Gold-containing drugs are pharmaceuticals that contain gold. Sometimes these species are referred to as “gold salts”. “Chrysotherapy” and “aurotherapy” are the applications of gold compounds to medicine. Research on the medicinal effects of gold began in 1935, primarily to reduce inflammation and to slow disease progression in patients with rheumatoid arthritis. Future we might see more uses in modern technology or hi-tech needed, not only wealth or ornaments uses.
just for the additional information, its Melting point 1337.33 K (1064.18 °C, 1947.52 °F) and Boiling point 3243 K (2970 °C, 5378 °F).
KNN Linku
Writer, Columnist
knnlinku @ gmail.com
