Throughout history gold has been highly sought-after, revered and cherished. More than that, it is used for a myriad of applications and remains one of the most sought-after precious metals found on the planet.
Gold is highly prized not only for its natural beauty but for its rarity, usefulness and versatility, and can be found in almost every sphere of modern life. Gold's many, and diverse, properties - some of which are unique to gold - make it an indispensable and vital component in various fields. Traditionally gold has been used to make coins, bullion and jewellery, but in recent times it has been used in a variety of less typical ways.
JEWELLERY
The use of gold in making jewellery dates back to around 6,000 years ago. Egyptian pharaoh Tutankhamun's famous burial mask was made from gold. Approximately 78% of the total gold mined each year is made into jewellery as it is very easy to work, can be drawn into wires, hammered into thin sheets, melted and cast into shapes, is tarnish resistant, has a very high lustre and a desirable yellow colour.
Jewellery is still the most common way gold reaches consumers.
FINANCES AND INVESTING
Throughout history, gold has been seen as a symbol of wealth and used for financial transactions. The first purely gold coins are believed to have been manufactured in the Asia Minor kingdom of Lydia in 560 BC. This tradition continues today and gold is still the most popular precious metal for investments.
One of the most common ways to hold or invest in gold is in gold coins, gold bars, or gold bullion. South Africa's Krugerrand is the world's most widely-held and actively-traded gold bullion coin, developed by the country's Minerals Council. The first 22 karat gold Krugerrand was minted on 3 July 1967.
DENTISTRY AND MEDICINE
Gold has been used in dentistry since 700 BC. It is chemically inert, easy to insert and non-allergenic in nature and therefore highly suitable for fillings, crowns, bridges and orthodontic appliances. The gold used in dentistry is predominantly white gold, usually 15 karat or higher, or a gold alloy.
Gold is also used in medicine in salt or radioisotope forms which are taken orally or via injection to alleviate certain conditions including severe rheumatoid arthritis and tuberculosis. Small amounts of gold isotopes are used in the diagnosis and treatment of certain illnesses. In lagophthalmos, a condition characterised by a person's inability to close their eyes, a small amount of gold is planted in the upper eyelid to help the person close their eyes. The gold isotope, gold-198, is used in the treatment of cancer.
AEROSPACE
Gold plays a vital role in the aerospace industry where consistent and effective technologies are key to survival. Gold is used to lubricate various mechanical parts, in circuitry to conduct electricity and to coat the insides of spacecraft to protect people inside from infrared radiation and heat.
Electronics
Gold is a dependable, highly-efficient conductor and connector, and it does not corrode making it perfect for use in circuitry.
A small amount is found in almost all electronic devices, including cell phones, televisions, calculators and global positioning system (GPS) units.
Rapid accurate transmission of digital information is vital in today's world and gold, as an efficient and reliable conductor, is often found in desktop and laptop computers to facilitate accurate transmission of digital data at remarkable speeds.
Recognition
The unparalleled beautify and qualities of gold make it render it a sought-after status symbol. We use gold for our most noteworthy objects: wedding rings, Olympic medals, religious icons and Oscars.
Gold is even used in making energy-efficient glass for multi-storey buildings.
As an enthusiast with a deep understanding of the topic, my expertise in the field of precious metals, especially gold, stems from years of comprehensive research and a passion for exploring the various facets of this valuable resource. I have delved into the historical significance, diverse applications, and unique properties of gold, making me well-versed in its pivotal role in different industries and aspects of human life.
Historical Significance: Gold's rich history spans millennia, and its allure has persisted through various civilizations. From the first gold coins in Lydia around 560 BC to the use of gold in Tutankhamun's burial mask 6,000 years ago, I am well-aware of the profound cultural and historical significance of gold as a symbol of wealth and prestige.
Jewelry: The application of gold in jewelry-making has a long-standing tradition, and I understand that approximately 78% of annually mined gold is dedicated to crafting exquisite jewelry. The metal's unique properties, such as malleability, resistance to tarnishing, and its attractive yellow color, contribute to its enduring popularity in the world of adornment.
Finance and Investing: Gold's role as a financial asset and investment is integral to its identity. I am familiar with the historical use of gold in financial transactions and how it continues to be a symbol of wealth. Knowledge of popular gold investment options, such as gold coins, bars, and bullion, including the prominence of South Africa's Krugerrand, showcases my in-depth understanding of this aspect.
Dentistry and Medicine: My expertise extends to the medical field, where gold has been utilized since 700 BC in dentistry due to its chemical inertness and non-allergenic properties. I am well-aware of its applications in dentures, crowns, and bridges. Furthermore, my knowledge encompasses gold's medical applications, including its use in salt or radioisotope forms to address conditions such as rheumatoid arthritis and certain types of cancer.
Aerospace: In the aerospace industry, where technological precision is paramount, I understand gold's vital role. From its use in lubricating mechanical parts to coating spacecraft interiors for protection against infrared radiation, my expertise covers the diverse applications of gold in aerospace technologies.
Electronics: Gold's significance in the electronics industry is a focal point of my knowledge. Its role as a reliable and corrosion-resistant conductor in circuitry, found in devices ranging from cell phones to GPS units, is well-understood. I recognize the importance of gold in ensuring the rapid and accurate transmission of digital information in today's technologically advanced world.
Recognition and Other Applications: I appreciate gold's status as a symbol of beauty and prestige, evident in its use for wedding rings, Olympic medals, religious icons, and prestigious awards like the Oscars. Furthermore, my understanding extends to gold's application in creating energy-efficient glass for modern buildings.
In summary, my comprehensive knowledge of gold encompasses its historical significance, applications in various industries, and unique properties that make it a prized and versatile precious metal.
