Human beings have been fascinated with gold since ancient civilization – as far back as 40,000 B.C. It is one of the most sought-after metals in the world because of the different characteristics and qualities it possesses.
The lustrous sheen and beautiful yellow color make it a popular choice in the jewelry market. Aside from that, gold is a great conductor of electricity and heat, which is required for certain electronics.
With the gold price per ounce reaching $1,504.05 as of September 18, this precious metal is also a good asset for investors.
Among the various minerals mined on earth, there is nothing more valuable than gold. From medical to industrial and technological applications, the uses of gold are plentiful and outstanding.
Here are some of the top uses of gold in the market you should know:
Gold is among the few currencies that have an intrinsic value. Its financial use dates back over 6,000 years ago when people exchanged goods using pieces of gold.
In the later years, these pieces of gold eventually turned into minted gold coins, which were used as currency until the early 1900s. While these are no longer widely used in transactions, gold coins are a convenient way to purchase and keep small amounts of gold. They can be issued in standard weights with values determined by the gold price per ounce or gram.
Gold bars, known as bullion, are also accepted as a financial backing for currency. This minimizes the cost of manufacturing and allows convenient storage and handling.
Another important use of gold is in the manufacturing of electronic devices, such as cellphones and television. Almost all electronic devices contain a small amount of gold inside.
Gold is used in the switch and relay contact, in connecting wires, in connection strips, and in soldered joints of electronic devices.
Corrosion and tarnish can interrupt the flow of electric current and voltage. Since gold is an efficient conductor, it can carry out tiny currents and voltage to power the device without tarnishing or corroding.
Among all metals, gold is considered as the most ductile and malleable. Because of this, it is easy to manipulate them into different forms.
Gold is also highly valued in the jewelry market for its luster, radiance, and color. It's no wonder that gold remains as one of the top choices as a jewelry gift.
In 2500 BC, Chinese physicians used pure gold as a medicine to treat a small number of medical conditions. These include skin ulcers, smallpox, and furuncles.
Today, gold is used as a drug to treat patients suffering from rheumatoid arthritis. This metal is also known to treat a condition that prevents a person from completely closing their eyes.
Gold is associated with status. This is the reason why crowns, medals, and trophies are made from gold.
This precious metal is also associated with several positive qualities, such as purity. As such, religious symbols, including crosses and communion wares, are made with gold.
As you can now tell, the uses of gold are not limited to just jewelry and finances. Because of its certain properties and characteristics, gold can be used in the technological, medical, and industrial fields. Certain qualities associated with the metal can also give gold a new meaning.
So, if you had any biases against gold, you might want to reconsider and use it for its many benefits.