- The 8 most common uses of gold
- 1.- In the jewelry industry
- 2.- As currency and financial support
- 3.- In the electronics industry
- 4.- In the computer industry
- 5.- Awards, trophies and medals.
- 6.- Gold bath
- 7.- In space technology
- 8.- Orthodontics
- References:
The gold is used today to produce electronic circuits in mobile phones and computers for backup and long - term financial investment, and to make accessories and jewelry.
Gold is a member of the transition group metal and occupies the same column as silver and copper in the periodic table of the elements. Its atomic number is 79 and its chemical abbreviation is “Au”, from the Latin aurum, which means “bright dawn”.
It is one of the first metals known and worked by humans, with known data from 3400 BC coming from ancient Egypt. It has been and continues to be a distinctive symbol of wealth, beauty and power anywhere in the world.
In the gold market, its monetary value is determined by the carat and represents the amount of pure gold contained in a single piece. The most valuable is the 24K one, considered to be 99.95% pure.
To give it more hardness and resistance, especially in jewelry making, other metals are added, making it less pure; and so the carats are decreasing. There is 18K, 10K and 12K gold. The latter contains 50% gold and 50% other alloys.
The 8 most common uses of gold
1.- In the jewelry industry
Craftsmen and jewelers for thousands of years have used gold to make ornamental objects, pieces and accessories. Jewelry manufacturing takes around 78% of all the gold circulating on the market, whether mined as new or recycled.
The special properties of this metal make it perfectly manageable for making jewelry. Attractiveness and durability are two of the most determining factors that gold can offer to this industry.
On the other hand, many cultures have gold jewelry as part of their traditions. In these cases, very important objects are expected to be made of gold or have gold among their materials.
Despite this, gold is too soft to be used alone in the making of these types of items. It is common for this industry to combine alloyed gold with other metals such as copper, platinum or silver to increase its durability.
This process reduces the value of the piece by containing less gold than pieces made of pure gold. The endpoint, as stated at the beginning of the article, is determined by carats.
2.- As currency and financial support
Gold has been used for over 6000 years as one of the most widely used exchange systems; if not the most reliable of all. The first commercial transactions exchanging goods for currency were made with pieces of gold or silver.
Since its properties and attractiveness have been almost the same throughout history, its value over time does not vary, making it an excellent long-term investment. It is transportable, divisible, durable, moldable, and highly valuable.
After this system came the implementation of paper money, which was an equivalent to the value and amount of gold (generally bullion) that was owned.
The amount and real value of the banknotes in circulation in a country should have a backing equivalent to the gold in possession of that nation. This is not the case today, as the economy is not driven solely by the value of gold.
3.- In the electronics industry
Not only is it valuable as currency or for luxury items, its physical properties make it an excellent and reliable long-lasting conductor.
Electronic devices of daily use such as cell phones, calculators, TV's, GPS units and tablets, contain gold in their parts.
This type of electronic equipment works with very low voltages and currents and requires very small amounts of conductive metal, and in very thin sheets. Any damage like corrosion to the metal would disrupt electrical transmissions.
Gold is corrosion free and handles the circulation of such small electrical currents very well. It is used in connectors, cables, contacts, cards, switches and more parts. A single mobile phone can contain up to 50 milligrams of gold.
4.- In the computer industry
In this modern digital age, the speed of data transmission is one of the priorities of every computer and this requires high quality drivers.
Similar to the previous point, the properties of gold make it the material par excellence of the internal components of any desktop or laptop computer.
With gold, the transfer of information and data is faster, more efficient and without the danger of corrosion interference.
The importance and quality of the product justifies its high costs. Gold is mainly found in cards, memory chips, and microprocessors.
These pieces, along with other electronic items, represent the vast majority of non-recycled gold on the market.
5.- Awards, trophies and medals.
Its attractiveness and value as a precious metal makes it the perfect reward for special efforts or work performed. It is a globally recognized symbol of achievement and power; the most distinctive use historically used is that of kings' crowns.
Gold is very common for first place awards in sports competitions, and for winners at artistic events in the entertainment industry, such as music, film and television. It is also widely used in religious symbols such as crosses.
6.- Gold bath
Due to its flexibility and malleability, gold can be reduced into very thin beaten sheets that are generally used to cover and decorate furniture, sculptures, buildings (interior and exterior), among others.
In addition to providing a glamorous appearance, it protects these structures from corrosion.
7.- In space technology
The conductive properties of gold offer the best efficiency in space equipment circuits.
Additionally, many parts of these vehicles are equipped with gold coatings to reflect radiation and stabilize temperature.
Without this protection, the interiors of ships and other vehicles would absorb many amounts of heat.
8.- Orthodontics
Gold is also used in the dental industry to make teeth, plates, and fillings.
Its durable, moldable and corrosion-free properties make it a perfect material for this purpose.
Previously it was very common to see people with gold teeth or molars. Naturally, this represented high social status or wealth.
References:
- US Global Investors (2011). The many uses of gold. Recovered from usfunds.com
- Hobart King. The Many Uses of Gold. Geology.com. Recovered from geology.com
- Eric Sepanek (2012). Top 6 Common Uses For Gold. Scottsdale Bullion & Coin. Recovered from sbcgold.com
- Stephanie Pappas (2016). Facts About Gold. Live Science. Recovered from livescience.com
- Marauo Davis. What is Gold? - Definition, Properties & Uses. Study.com. Recovered from study.com
- Cashforgold.TO. What is gold used for? - Gold Information, Precious Metals. Recovered from cashforgold.to