Lots of Interesting Uses for Gold
- Jewellery is by far the biggest consumer of Gold. For over 5000 years man has known Gold and it has always been a symbol of wealth and used in jewellery. Today almost 78% of Gold produced annually is used in jewellery production. In India it is estimated that each household has an estimated 28 Grams of Gold in the form of jewellery which is growing each year due to individual’s wealth increasing. Gold at 24 Carat or pure Gold is a very soft metal and is often used with other metals in jewellery production but it is an great material for fabricating jewellery. Its beautiful yellow colour and tarnish resistant quality also make it an ideal material for jewellery production by trained craftsmen.
- Financing and Investment make up the second biggest percentage of Gold acquisition of Gold produced accounting for approximately 10% of the annual produced quantity. Gold is in limited supply throughout the world and as such commands a high value and is a strong asset class for investments due to its high value. Gold was used up till recently as Gold was used a security against a nations currency even though Gold is classed a currency in its own right. It is known as the Global currency. Central banks through out the world hold Gold Bullion Bars as a means to shore up their sovereign nation’s wealth with many countries increasing their holdings with Russia and Chins among the top 2 countries currently doing this. Gold Coins are also produced mainly in the form of 1 Ounce Coins which are very popular amongst the individual investors. Gold has been used as a form of currency for 1000’s of years with the first Gold Coin associated with Lydia in Turkey in around 560 BC.
- Electronics is the 3rd Biggest user of Gold Produced. Due to Gold’s ability to conduct electric makes it a highly desirable metal for this task. Its ability to conduct fast as seen Gold used in many different electronic products such as Mobile phones, Computers, GPS systems and even the connector plugs from one device to another. Gold used in electronics is often of a very small quantity due to its ability to be stretched etc. One estimate of the value of Gold used in a cell Phone is $0.50 cents. However, with over Millions of phones used produced annually the cost of recycling this Gold at End of Life is deemed to high in relation to return that it might be seen that this Gold is been lost.
- Dentistry has long been associated with Gold Teeth. There is evidence to show that Gold has ben used by Dentists for nearly 1000 years now. Gold was a very popular choice by dentists due to the ability to mould it to fit gaps and fillings. On average 1.75 Grams of Gold was used per filling. However, in recent years the use of Gold as a Filling supplement has slowed down due to the high prices of Gold. It is also a know fact that Gold Dealers or Scrap Gold Dealers Welcome Gold Fillings from both patients and Dentists due to the high purity of it.
- Medical Uses, in keeping with the Dentists, Gold is used in Medical devices and is also used as a medicine. Having been researching this Blog, I came across some uses that I will list here without elaborating on such as Gold is implanted with a radioactive isotope and inserted into the body to treat certain cancers. Relating to another system called Lagophthalmos. This is a symptom where the patient cannot close their eyelid, so a small amount of Gold is inserted into their eyelid which weighs it down to help close it. Also, given that Gold is noncorrosive it is used in many medical devices even life support machines.
- Space Exploration should come as no surprise given the properties that Gold offer as been noncorrosive. So Gold comes from space and we go send it back up again. Some of the uses we have found for Gold in relation to Aerospace is coating the inside of the Space capsule to protect against radiation, electronics onboard, as a lubricant on moving parts as the Gold has a very low friction rate and service as barrier between moving parts where normal lubricants would not work due to radiation and the atmosphere.
- Medals and awards. From the time we were all kids we always wanted the Gold Medal. It has long been a symbol for been 1st or the winner with the lower valued medals Silver representing 2nd and Bronze 3rd. The Olympic medals were made from pure Gold up till recently. It is seen as a status symbol and let us not forget the Academy Awards were the prize is a Gold Statue. It also gives of an amazing shine.
- Gold has a lot more uses so we have listed a few of the most interesting other uses that we think you might find interesting >>
>> Gold Plating >> Gold has been used in recent times to decorate and add value to many items such as the I phone and even a Ferrari.
>> Gold roles Cigars >> If you can afford it, you can buy a box of Gold Leaf Rolled Cigars so you are literally smoking Gold.
>> Art >> Gold Leaf has long been used in Art for both paintings and books.
>> Credit Cards >> Yes you can get a Gold credit Card.
>> Food >> You can buy a steak in New York that has Gold leaf sprinkled on it.
>> Vodka >> You can buy Gold Infused Vodka
There are a lot more uses for Gold that update as I go along.