Gold is one of the most admired and valued precious metals. It has been used in various ways for thousands of years, thanks to its unique properties. Pure gold ore was among the first precious metals that human beings used long before civilization, and we still use it as gold bullion and gold alloys alike in modern times. It was one of the first metals used by humans in ancient times, from the first gold coins created by the Egyptians in 3400 BC to discoveries in California, South Africa, Australia, and beyond.
The gold industry is one of the most attractive to investors worldwide today. You probably are interested in investing in this industry if you are reading this post. It is vital to start from the basics before you decide to put your money into this industry.
For instance, you should start by knowing what precisely gold is. And then, you should also know its uses in various industries. That will help you see if it is worth investing in if you are getting started. This is what this blog post is all about—helping beginners deeply understand gold.
Let's dive into it.
Understanding Gold: What Is It?
As said before, you should start with knowing what gold is before anything else. Gold is a member of the transition metals in the periodic table. It sits in the same column as silver and copper, which are also metals but with different properties from gold. Its symbol is Au, which comes from the Latin word for gold, "aurum."
Gold is shiny, yellowish, and has a wide range of chemical properties that make it unique. As said before, gold is considered one of the most precious metals discovered by human beings. This has made it a symbol of wealth and beauty for generations, and it still is.
Gold deposits are found in veins in igneous rocks alongside quartz and pyrite due to their abundance beneath the Earth's crust.
Alloys of gold using palladium, platinum, or other minerals are common, but the purer the gold, the more valuable. Alloys can help manipulate gold's melting point, affecting malleability for use in tools, jewelry, and more. Gold's purity is often referred to in karats or "kg," with 24-karat gold being the purest of the pure.
Today, people invest in gold for a wide range of reasons. One is to store value since gold is unique when compared with other ways to keep wealth. It doesn't lose its value like money and currencies in an economic crisis or any other pandemic.
Gold dealers are making it easier for people to invest in this booming industry. For instance, dealers like Acre sell gold bars that are among the best gold investments. They also have simplified how to invest, making it possible for investors to start small and slowly build their portfolios.
Gold’s Physical and Chemical Properties
As mentioned earlier, gold has unique properties. That's what differentiates it from various metals and makes it have a wide range of applications. It is essential to know the physical and chemical properties that this precious metal comes with, making it a worthy investment.
Here are gold's physical properties:
- It is a ductile and malleable metal. By ductile, we mean that you can draw it into thin wires, while malleable means you can hammer it into thin sheets.
- It is soft and is easily scratched, making it require extra care.
- It is a good reflector of light and heat.
- It also is a good conductor of electricity.
Its chemical properties include:
- Gold isn't very reactive, making it easy to store.
- It also doesn't corrode, tarnish or rust like most metals.
These are the physical and chemical properties that make gold unique. They account for a wide range of uses that people use gold for today. For instance, the fact that gold doesn't corrode, rust, or tarnish quickly is what's making it get used to make coins.
This is also the reason it is used for jewelry and storage of value. Without it, storing gold could be a daunting task for gold enthusiasts. Thankfully, you can purchase gold today and store it for thousands of years, and it will continue to retain its color.
Common Uses for Gold in the World Today
Something else that you should know is the various uses of gold. Understanding the applications you can put gold into can help you decide if it is worth holding. This blog post discusses the top six applications you can put gold into today. Let's take a deeper look into them.
Jewelry
One of the most significant uses of gold is in jewelry making. Most of the expensive jewelry people wear today is made from gold. Or, a piece of jewelry could be made from a different metal but then coated with gold. This makes gold a vital component in jewelry making.
Gold is perfect for jewelry making because of the properties discussed earlier. As said, it has reflective properties that make it reflect objects when exposed to light. This makes it look beautiful on every piece of jewelry that it's used to make.
Also, we mentioned gold's non-corrosive nature and the fact that it doesn't rust. It’s durable, and jewelry made from it lasts for many generations. Some people store value in the jewelry, while others hold it for prestige and as a sign of wealth.
Yellow gold can be alloyed with nickel or copper to make white gold, while yellow gold itself is often mixed with zinc to create a spectrum of colors for use in gold jewelry.
Medals and Awards
Gold is highly-esteemed among all other precious metals. This makes it make appearances in medals, crowns, and many different kinds of awards. One reason this happens is because of the beauty of gold. Its yellow color is one of the features that add to the beauty.
Gold holds a special place among the items that people value. This makes people admire medals and awards made from gold. People feel happier and special when they receive golden awards. It makes them feel more appreciated than when they get awards made from other kinds of medals.
Finances and Investing
Gold is also one of the best investments you can make today. An investment in gold gives you security and assurance that you'll get the value you desire. The rarity of gold and the fact that people hold it highly makes it an excellent investment and a natural currency.
One reason to trust gold as an investment is that even big economies rely on it. For instance, for many years, the US has held its monetary currency to the gold standard. This shows that they trust gold more than monetary currencies, especially during times of economic crisis.
You can also invest in gold as an individual. This will give you the financial security you need, primarily because of economic uncertainty. For instance, you can invest in gold coins, gold bars, or any form of non-physical gold.
There are dealers like Acre who specialize in gold bars. They can help you get started if you decide that gold bars are your go-to investment. You can also find dealers in other ways of investing in gold, such as EFTs, stocks, etc.
Electronics and Computers
We already mentioned that gold is a good conductor of electricity when discussing its properties. It can carry even the tiniest electrical charges, and that makes it work perfectly on electronic devices. For instance, it is used in making parts of cell phones, TVs, GPS units, etc.
Manufacturers of desktop computers and laptops also use gold to make some parts. The fact that gold is a good conductor of electricity also makes it transfer information quickly. In addition, they use this metal to make parts of charging ports to ensure devices charge faster.
Aerospace
The aerospace industry is another popular consumer of gold. This is so because of gold's heat-conducting capabilities. Manufacturers use it to make parts that require electricity conductors. It also is excellent for the lubrication of various mechanical components in airplanes.
Space vehicles that also fall in the aerospace industry require gold. People use them to go into space where heat can be a massive challenge. Gold provided a solution by coating the insides of space vehicles. This then helps protect travelers from heat and radiation as they enter space.
Dentistry and Medicine
The medical industry uses gold for various dentistry procedures. For instance, they can make crowns, fillings, and bridges that help fix different dental issues. This is mainly because gold is chemically inert, non-allergenic, and easy to insert where there's a problem.
Gold is also perfect for manufacturing orthopedic appliances. It is also worth mentioning that the medical industry has been using gold for the longest time. In dentistry, it has been in use since 700 BC, and it still has proved effective presently and will continue to be in the future.
Conclusion
Gold is a precious metal that has been valued everywhere from Ancient Lydia (Turkey) to 20th century Russia. As said before, people have been investing in gold and using it for many other purposes for many years. This hasn't changed today, and gold is still an effective investment in modern times and for the future.
This blog post has discussed almost everything you should know about gold. It has defined it, provided a wide range of its uses, and also discussed its properties. These are some facts that you need to know about gold before you decide that it is worth your money.
The insights shared in this article will provide you with a good foundation in the gold industry. As a potential investor, this information will help you know whether to invest or not.
Visit Acre Gold now to learn more about gold and the benefits of investing.
Sources:
What is Gold? - Definition, Properties & Uses - Video & Lesson Transcript | Study.com