Of all the minerals that come from mining, none has more uses than gold. Due to its nature, gold has various special properties, which results in so many uses for gold. Gold conducts electricity, does not tarnish, and alloys with many other metals. It is very easy to work, it can be hammered and melted, and it has an appealing color with a bright luster. It is a very special metal that captures the human imagination.
According to statistical data, jewelry is the most standard use of gold as it contains about 80% of gold in it. Because of its luster, shine, age and resistance to certain conditions, most cultures use gold for jewelry. In addition, people around the world have considered gold as a symbol of prosperity and wealth since ancient times.
It’s an understatement to say that finance and investing are spheres with a high return value. In addition to using gold as a currency over the centuries, investors regard gold as a hedge in inflationary times. Political instabilities and economic collapses are times when gold demand is at its highest. And in light of recent events worldwide, more and more investors all over the world are swarming to add gold bars to their portfolios.
Another important use of gold is found in medicine and dentistry. This is mostly because of its excellent performance and aesthetic appeal. Dentists use gold alloys for fillings, crowns, bridges, and orthodontic appliances because it is chemically inert, non-allergenic, and can shape easily. Also, it is chemically passive and doesn’t react when mixed with other metals.
The most significant industrial uses of gold are in the manufacture of electronics. Gold is at the top of the metals list when it comes to being great conductors of electricity. Since gold can carry electrical charges easily, it can be found in all electrical devices, such as mobile phones, television sets, GPS devices, computers, laptops, calculators, connectors, switches and relay contacts, soldered joints, connecting wires, and strips.
NASA uses gold in every space vehicle it launches. Gold is a perfect connector and a reliable conductor. In addition, many components in aerospace vehicles contain gold-coated polyester film, which reflects infrared radiation and helps stabilize the temperature of the vehicle. Gold also serves as a lubricant between mechanical parts.
Most of the uses for gold today have appeared quite recently. Since society requires more reliable materials, this trend is likely to continue, and gold demand will further increase. The combination of rising demand, lack of available substitutes, and limited supply will probably cause the value of gold to increase over time.