Goldis one of the most highly-desired and useful metals in the world. Not only can it be beautifully shaped and sculpted, the precious yellow metal conducts electricity and does not tarnish. These qualities make it the metal of choice for the industrial, medical and technology industries, just to name a few.
Arguably no other metal has been held in higher esteem throughout history, with almost every established culture using gold to symbolise power, beauty, purity and accomplishment.
Today, gold still occupies an important place in our culture and society – we use it to make our most prized objects: wedding rings, Olympic medals, money, jewellery, Oscars, Grammys, crucifixes, art and many more.
1. My precious:Gold has been used to make ornamental objects and fine jewellery for thousands of years. Today, up to 80 per cent of the gold that is newly mined or recycled is used in jewellery manufacture. One reason the lustrous metal is such a popular jewellery choice is because of its malleable properties – it can be drawn into wires, hammered into sheets and/or cast into shapes. Pure gold, which is very soft, is known as 24 karat gold. It has to be forged with other metals such as copper, silver and platinum to increase its durability.
2. Money, money, money:Gold doesn’t just signify jewellery value – it has also long been used as a medium of exchange or money. The first known use of gold in transactions dates back more than 6000 years – gold coins were minted under the order of King Croesus of Lydia (a region of present-day Turkey) in about 560 BC. The rarity, usefulness and desirability of gold make it a substance of high value, plus it’s durable, portable and easily divisible. Today, many governments, individuals and institutions hold investments of gold in the convenient form of bullion.
3. The electronic age:Did you know your iPhone is a virtual gold mine? Well, not quite – mobile phones contain about 0.034g of gold, worth about US$1.82 at today’s prices. Arguably the most important industrial use of gold is in the manufacture of electronics. Gold is a highly efficient conductor which can carry tiny currents and remain corrosion-free. It is used in connectors, switch and relay contacts, soldered joints, connecting wires and connection strips. What’s more, aside from your trusty iPhone, you’ll find gold in calculators and most large electronic appliances – even your standard desktop or laptop computer and your TV.
4. Oh what pretty teeth:The use of gold in dentistry dates back to early as 700 BC, when Etruscan “dentists” used gold wire to fasten replacement teeth into their patients’ mouths. Pretty! Gold is primarily used in dentistry because of its superior performance and aesthetic appeal – after all, a rusty iron smile might not look too hot. Gold alloys are also used for fillings, crowns, bridges and orthodontic appliances because the precious metal is non-allergenic and easy to work with.
5. To infinity and beyond:Gold truly is a metal of the future – look no further than its use in aerospace. If you are going to spend billions on a space vehicle that, when launched, will travel on a voyage where the possibility of lubrication, maintenance and repair is absolutely zero, then building it with extremely dependable materials is paramount. This is exactly why NASA uses gold in hundreds of ways in every space vehicle it launches. Clearly, gold’s importance as a multi-use metal cannot be overstated.
FAQs
It is used in connectors, switch and relay contacts, soldered joints, connecting wires and connection strips. What's more, aside from your trusty iPhone, you'll find gold in calculators and most large electronic appliances – even your standard desktop or laptop computer and your TV.
What are 5 uses of the element gold? ›
It is used in coinage and is a standard for monetary systems in many countries. It is also extensively used for jewelry, decoration, dental work, and for plating. It is used for coating certain space satellites, as it is a good reflector of infrared and is inert.
What is gold most used for? ›
Jewelry: The Primary Use of Gold. Gold has been used to make ornamental objects and jewelry for thousands of years. Gold nuggets found in a stream are very easy to work and were probably one of the first metals used by humans. Today, about half of the gold that is newly mined is used to make jewelry.
What is the highest use of gold? ›
Gold Demand Sectors
- Jewellery Demand. Gold jewellery represents the largest source of annual demand for gold per sector. ...
- Investment. Gold has unique properties as an asset class. ...
- Central Bank Demand. Gold plays an important part in global central bank reserves, and they are significant holders of gold. ...
- Technology.
- Iron or steel is used to construct houses and bridges.
- Aluminium wires are used.
- The liquid metal mercury is used in making a thermometer.
- Zinc is used to protect the iron from rusting through galvanization.
- Gold and silver are used for making jewellery.
Five elements theory (also known as five phases theory) is a framework that's been used for at least 2400 years in traditional Chinese medicine to explain how we're influenced by the world and weather around us, and how the organs of the body interact with each other.
What are the 6 uses of metals? ›
Different uses of Metals
- In the Construction Industry.
- In electronics.
- In medicine.
- Machinery, Refractory and Automobiles.
- Decorative products.
- Other Uses.
Gold is used in jewellery and ornaments. It is widely used in the electronics industry for the fabrication of electrical connectors that are resistant to corrosion.
Why is gold important to the world? ›
Economic hedge: Gold has historically been seen as a stable hedge against economic instability or recession. For that reason, many investors and even countries purchase gold to diversify their investments and achieve economic stability.
What were the first uses of gold? ›
The known history of gold goes back a long way, so far back that, according to the National Mining Association, it was first used by cultures in modern day Eastern Europe in 4000 BC to make decorative objects.
Because of its inherent properties, gold is used in the medical, electronics, automotive, defense and aerospace industries. It is also increasingly used as a catalyst in many industrial processes. Gold has many medical applications.
What is gold used for in medicine? ›
When is gold treatment used? Gold is used most often to treat rheumatoid arthritis. It is sometimes also used to treat juvenile rheumatoid arthritis and psoriatic arthritis. Gold appears to work best in the early stages of arthritis but it may be effective in anyone with active joint pain and swelling.
What are two reasons why gold is used? ›
There are four predominant markets for gold: on one side, it is used to create jewellery or as a component in technological applications, and on the other it is stored by central banks or traded by investors. Roughly half of all gold is made into jewellery.
What is the leading use for gold globally? ›
Distribution of gold demand worldwide in 2023, by sector
| Characteristic | Share of global demand |
|---|
| Jewelry | 48.74% |
| Investment | 23.32% |
| Central banks | 21.25% |
| Technology | 6.69% |
May 14, 2024
Because it is an excellent conductor of heat and electricity, gold is used extensively in the electronics industries in items such as printed circuits and in transistors. The circuitry of computers, calculators, televisions, telephones, and fire detectors are often plated with gold.
Why gold is one of the most noble metals? ›
Abstract. THE unique role that gold plays in society is to a large extent related to the fact that it is the most noble of all metals: it is the least reactive metal towards atoms or molecules at the interface with a gas or a liquid.
What are the five most precious metals in the world? ›
In conclusion, these five precious metals, gold, platinum, silver, palladium, and rhodium, are highly valued for their beauty, rarity, and durability. They have a wide range of uses, from jewelry and currency to industrial applications and as a hedge against inflation.
