In some far eastern societies, gold leaf, chips, and residue are eaten for assumed medical advantages and as a show of riches. It is to be noticed that ingesting natural gold thusly has not been demonstrated to offer any huge effect on one’s wellbeing yet huge measurements can wind up dangerous.
Gold is likewise utilized for the present-day drug in its salt or radioisotope shapes. These types of gold can be utilized by the body when taken orally or using infusion as a therapeutic treatment to reduce extreme instances of rheumatoid joint inflammation, tuberculosis, and different conditions. The gold isotope, gold-198, is likewise utilized for the treatment of malignant growth.
Gold is frequently joined with different metals for use in present-day dentistry. The gold utilized for dental work, including fillings and crowns, is dominatingly white gold or gold compounds. At the point when white gold is utilized, the virtue of the gold is typically 15 carat or higher.
Because of its uncommon conductive properties, gold has turned into a well-known decision in the fields of industry and hardware. Practically all cutting edge machines, from PCs to cell phones, have some gold substance.
Moreover, the way that electromagnetic radiation is reflected by gold has settled on it a well-known decision in ensuring costly gear or workforce that might be presented to infrared light or other abnormal state electromagnetic radiation sources.
Factors affecting the gold price in Nepal
Gold is used as a fashionable value for currencies all over the globe. The price of gold receives said as a forex fee, frequently in U.S. bucks, and the rate of gold can differ with market situations.
What influences the price of gold in the modern market? Below are five sizable influences on gold price fluctuations that any investor with a hobby in gold trading ought to recognize.
Value of the US dollar;-
The U.S. dollar continues to be the sector’s dominant reserve foreign money, making it one of the predominant currencies that specific countries keep for global trades.
The fee of gold and the electricity of the dollar have a quite clear inverse relationship; whilst the dollar is robust, gold is weaker, and vice versa. as an example, between September 1 and September 10 of 2014, the U.S. dollar index rose by using nearly 2 points, and this softened the market for the ones selling gold. then again, humans buying gold can also see a robust dollar as shopping for the opportunity, and that might provide a few charge aid.
See Also: Nepal Gold Price per Gram For Today in Nepalese Rupees
The production of gold can also be an important issue in the price of gold. an excessive amount of production of gold can decrease the price of gold down the street, as the delivery of this commodity will increase.
The supply in the amount of recycled gold is also a crucial indicator of the destiny price of gold.
Whilst the charge of gold is rising or the financial system is slowing down, the manufacturing of recycled gold tends to increase valuable banks around the area and many other establishments hold 25% of the entire gold deliver inside the world. They can not promote more than 5 hundred heaps according to 12 months, according to a settlement.
there is additionally oblique pricing of the important production charges. The few moments of another commodity will affect the rate of gold as well. authorities’ deficits also play a crucial function within the rate of gold through the years. take into account that gold will circulate with worldwide growth and commodity charges down the road.
The fee of gold is also correlated to worldwide inflation and cash supply. The FED is, possibly, the most vital aspect of the subject of the fee of gold obtainable. The U.S. financial data is every other critical motive force of gold charges.
economic records such as GDP growth, manufacturing records, salary facts, and task reports will affect the rate of gold as well. A sturdy U.S. economy will push down gold prices. This takes place when the economic system has enough jobs and the GDP is likewise increasing at a 2% rate or maybe higher.
The FED can also make an important move so that they tighten the U.S. economic coverage, which allows you to have a robust effect on the rate of gold down the road.
The smallest influencers of gold tend to be ETFs or alternate-traded funds. although ETSs aren’t supposed to be market moves, they do a superb process at it as nicely.
As you can see, gold is prompted with the aid of many things. You simply have to test the rate of the dollar or the future FED rules so that you can get more records about what the destiny rate of gold will be. interest prices additionally play an important part in the price of gold, and the moves of the worldwide economy are also critical.
Supply vs demand:-
Archeologists claim that humans have been mining and coveting gold for at least 5000 years, and this precious metallic is possible to remain treasured although the rate fluctuates regularly.
In case you plan to shop for gold, you need to remember that the charge is impacted via production charges, money supply, consolation or discomfort with monetary or geopolitical balance, the call for generated with the aid of earrings and industry, and movements taken with the aid of relevant banks.
In different phrases, gold is a finite useful resource and while global financial situations make gold more appealing, gold demand increases, making the fee of gold upward push. However the real cost of gold stays pretty stable ultimately, and the rate should reflect temporary uncertainty or easy forex fluctuations.
gold price in Nepal
The gold price in Nepal today per tola
The current gold price in Nepal today per tola
gold price in Nepal today per tola Ridhi Sidhi
interest charges affect the fee of gold. for example, banks pay a hobby on the financial savings account, and our government pays a hobby on Treasure bonds. The rate of gold honestly reflects the hobby charges that succeed in those markets as properly.
Gold is truly a magnet for the ones searching out a hedge against low-hobby charges. Quantitative easing refers to a strategy used by relevant banks. these banks will buy heaps of securities so we can increase the cash supply.
This could push interest prices down, growing the rate of gold over the years. If this action is overdone, this will purpose inflation, which increases the fee of gold as well.
you can additionally purchase gold when the charge of this commodity is low, as it takes place in the case of a slowdown in interest rates. Governments around the world have gold. They love buying gold a good way to have a hedge against economic uncertainty.
The fee of gold is going up if these institutions begin to shop for heaps of it. When the supply of a particular foreign money increases, gold becomes greater scarce, which drives its price up as properly.
The demand for gold jewelry is another important component that determines the modern-day charge of gold around the sector.
See Also: Nepal Gold Price per Gram For Today in Nepalese Rupees
The countries with the maximum call for gold are China, the united states, and India. Gold is also used as a display of wealth in India as well as a hedge towards a bad time.
This huge call for gold drives the rate of this commodity up. Gold is also a vital wealth image in China, and the current financial increase in this country tends to push the rate of this commodity higher and better.
The enterprise also makes use of gold heavily in all varieties of digital devices and applications including GPS structures.
Amongst those seven elements, the movements of the electronic-traded price range, or ETFs, are extra than possibly the smallest influence of gold charges. ETFs are not designed to be market movers, however, they’re still really worth citing.
ETFs are basket price range traders should purchase that allow for increased liquidity and the potential ability to unfold their risks over a massively wide variety of assets for a minimum value.
The biggest gold ETF, the SPDR Gold Shares ETF, purchases or sells bodily billion based on demand from investors. As funding call for gold changes, the charge can be stricken by the buying and promoting the hobby of ETFs. cash inflows for gold ETFs have surged in 2016, causing the buying activity of ETFs to grow as properly.
This purchasing interest is probably having an effective impact on the rate of gold.
How to calculate the gold price in Nepal.
Gold is a yellow treasure metal used in jewelry and for decoration and guarantees the value of currencies. Also, it is highly adaptable and usually used to join with other metal.it looks bright, dense soft, hardly reddish yellow, and extensile metal in its purest form.
Its value has higher proportionately than silver, copper and others metal because it doesn’t damage easily and very easy to work, can be shaped into the wire and thin sheets can merge with other metals and can cast into highly definite shapes after melting and has a beautiful color with a vivid luster.
Scientifically, it is thought that gold was formed in supernova nucleosynthesis due to the strike of neutron stars and have been present in the dust and because the earth was molten during its formation and scientifically it is also believed that many of gold present in the early age of the earth had probably sunk into the planetary core of the earth. They also said that gold is actually 10 times more common on this planet crust than they would be.
Gold has significantly more importance. As we know, firstly, it is used as jewelry in various and delightful shapes and sizes. It is an immensely important factor that demands the use of gold as jewelry metal traditionally in many cultures. Secondly, it also has a higher proportionately in industrial use.
Solid-state electronics device uses very low current and voltage due to which it is easily delayed by rust at the contact point. So to overcome this problem gold is used because it is a highly efficient conductor that carries this very low current and voltage and avoids rusting. It is also used in computers.
Computer possesses the breakneck and accurate transformation of digital information via computer and also from one component to another. So the computer required a very reliable and effective conductor that’s why golds are used in it. It is also used for award and status symbols.
As gold is used in the king’s crown it is the metal that possesses a higher status and revere. So its use for first place winners as award or medal in almost every sort of competition or contest. Academic Oscar award is also gold award as well as the first-place winner of the Olympic games etc. all of these previous achievings are honored with gold awards.
Women use as jewelry especially. The jewelry made of gold ornamented by women of clans of Nepal can reveal a lot about them. Which includes status, wealth, and beauty of course.
Like, most of the religious community Nepal wears nose jewelry because it is not just garnished for the nose but a symbol of mirage and also gold used as a spiritual symbol as well.
In an ancient period of Buddhism statue of Buddha was not use, the symbol was used instead of it which used to reference the Buddha.
And some the symbols are two golden fish which is a symbol of unity & loyalty in mirage, parasol which symbolizes wealth & prestige, etc. In short, in Nepal, gold represents all positive things, it can keep awash all goodwill and maintain a beauty so typically exclusive and beautiful.
It also has some bad effects, since the demand for gold is increasing in among Nepalese women due to which it has increased the gold robbery during the past couple of years.
As we also now, Nepalese women wear jewelry made of gold especially in occasion lie Teej, wedding ceremony, and only women having high financial status can afford such designing jewelry, not by low status which may affect mentally to that low-status women for not having such dazzling ornament with them.
Talking about calculating the gold price in Nepal. It is very important to both sellers as well as buyers to know how to calculate the gold price. Whether it is selling or buying the gold, it is very important to know about what is the price in both belongings made of gold.
Especially for buyers, it is very important to know because commercially it is an intelligent and most profitable business due to which the buyers should know how to calculate the gold price to avoid fraud by sellers.
Determining the price of gold.
There is an accurate method of calculating the price of gold per gram and the only variable method is the equation in the current market price of gold. The current market price of gold can be found by searching on the internet or looking up in the local newspaper.
Gold is priced per troy ounce, with a troy ounce equaling 31.1 per gram. Gold price varies hourly according to demand so the price of gold change from time to time which means the price of gold in the morning can be different in the afternoon. So it’s better to use the internet for regular updates.
Now, here we go on how to calculate the gold price. Firstly divide today’s gold price in Rupees per ounce by 31.1 to get today’s gold price per gram.
For example; if today’s gold price per ounce is RS 20000 then today’s gold price per gram is RS 643.086 (RS 20000/31.1). After this, divide the karate by 24 for each group of gold then multiply that quantity by today’s gold price per gram.
For example; if you have 14k gold and the current price of gold is Rs 643.086 per gram, then the price of gold is RS 643.086 x 0.583 = RS 375.1335 per gram.
Now, go through the assaying process to be sure of good value. Still gold has to go through the assay process to define the true percentage of gold. For example; 14k gold assayed is 0.575%.
When gold is melted it will lose the weight due to the alloy used in the making process. Now, multiply the price per gram by weight in gram. If you have 10 grams of 14 gold and you calculate the price in Rupees than the gold value 14 x 375.1335= RS 5251.869.
This is an accurate method to calculate the gold price according to the current market gold price per gram.
Gold is currently used to make electronic circuits in mobile phones and computers, for long-term financial support and investment, and to make jewelry items and accessories.
Gold is a member metal of the transition group and occupies the same column as the silver and copper in the periodic table of the elements. It has an atomic number 77 and its chemical abbreviation is “AU”, Latin Aurum, which means “bright alba”.It is one of the first metals known and worked by humans, with known data from 3400 A.C. from ancient Egypt.
It has been and remains 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 one piece. The most valuable is 24 k considered 99.95% purity.
To provide more hardness and resistance, especially in the jewelry makeup, 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% of other alloys. Gold has long secured the function of an element of the global financial system.
The reserves of this metal are small, which is why, throughout history, gold has practically not been lost.
No matter what disasters the human society would have to go through: the yellow metal melted and accumulated. Products made of gold and bullion today play the role of the most important objects for investing money.
The use of gold is not limited to the scope of investment. Metal is used in the manufacture of jewelry, in the implementation of modern technologies in a variety of industries, as well as in medicine.
1. Industrial use of gold:
The use of the yellow metal for industrial production due to its special properties is malleability. Thanks to these qualities, micron wire or an ultrathin sheet of foil can be made from the raw material. The use of gold in the modern industry is the most common Transportation industry, Chemistry and petrochemical production, Power industry.
Electronics and instrument manufacturing; Telecommunications; Nanotechnology and Aviation and space industry. Metal is widely used as a welding material in the production of the latest models of technology, the production of thermocouples, galvanometer parts.
By its chemical and mechanical stability, gold lags behind most of the representatives of platinoids. But is indispensable as a raw material for electrical contacts.
In the field of microelectronics, both gold conductors and the electroplated gold coating of individual surfaces, circuit boards, and connectors are widely used. Where else is gold used in industry?
Metal is used as a solder for soldering metals, as it wets well the working surfaces. Gold is also indispensable in the defense industry. They are made targets for nuclear research, used as a coating for mirrors intended for operation in the far-range infrared rays, used for the shell of a neutron bomb.
Electroplating gilding of metals eliminates corrosion processes, and thin plates made of soft gold alloys are important in the field of ultrahigh vacuum research.
Because of the ability of gold to reflect infrared rays, man found another use for metal: the glass industry. Metallization of windows of buildings is the insertion of a thin gold film.
Such measures allow for the reflection of most of the rays and avoid heating the building.
If an electric current is passed through such glass, it will acquire anti-fog properties that are indispensable for the manufacture of glass for large vehicles – airplanes, electric locomotives, and sea-going ships. The use of gold in the aviation and space industry may seem somewhat because the weight of the metal is quite large.
Gold is used where corrosion cannot be prevented. It is the connection of parts of aircraft engines, and the places where the electrical contacts are sealed. And the gold film coating of the windows of the space shuttles.
2. Jewelry industry:
Jewelry production has always been and remains the largest consumer of the yellow metal. Gold jewelry has been around for centuries, at least you can recall the ancient Egyptian pharaohs and the decoration of their tombs. Carrying gold products used to have a slightly different meaning: they were wards from diseases, attacks, witchcraft.
Artisans and jewelers for thousands of years have used gold to make ornamental objects, pieces, and accessories. The manufacture of jewelry takes around 78% of all the gold that circulates in the market, whether it is extracted as new or recycled. The special properties of this metal make it perfectly manageable to make jewelry items.
Attractiveness and durability are two of the most determining factors that gold can offer this industry. On the other hand, many cultures have jewelry items in gold as part of their traditions. In these cases, it is expected that objects of great importance are made of gold or have gold among their materials.
Despite this, gold is very soft to be used by itself in the elaboration of this type of article. It is common for this industry to combine alloy gold with other metals such as copper, platinum, or silver to increase its durability.
In the modern world, decorations made of yellow metal personify the status of their owner in and also carry aesthetic beauty.
The fashion for this metal is unlikely to pass with time so the question of where else gold is used by a person can be safely answered – in jewelry. The assortment of gold jewelry is quite extensive; rings, earrings, chains, cufflinks, fingers, and other items are made of metal. Jewelers make their masterpieces, not of pure gold, but its alloys.
This is explained by the fact that pure metal is very soft and does not have the necessary strength of mechanical stress.
To achieve the desired characteristics, in the production, they first make an alloy of a metal with other additives, the main of which are silver and copper. Other alloy components include palladium, zinc, cobalt, and nickel.
The ratio of components determines the alloy sample. Gold provides resistance to corrosion processes, but the mechanical properties of the alloy and its color shade depend on the content of other metals.
Depending on the ratio of metals in the alloy, gold jewelry has one of the shades of the three-color palette: yellow, white, and red gold are distinguished.
The use of gold in jewelry dyeing is about half of the total amount of metal that is used by man.
3. Gold in medicine:
Gold because of its good malleability and ability to not oxidize is widely used in dentistry in ancient times. The use of gold in dentistry. Even at high costs, gold is used in dentistry because of its superior performance and aesthetic appeal. Gold alloys are used for fillings, crowns, prostheses, bridges, and orthodontic appliances (braces, etc.).
Gold is used in dentistry because it is chemically inert and not allergic. It is known that gold was used in dentistry as early as 700 BC. For dentures and crowns, as for jewelry, it does not take pure gold, but its alloys. As additional components, all the same silver, copper, zinc, and platinum are used.
The result is a product with good ductility, excellent ability to resist corrosion, and high mechanical properties – all that is required for dental prosthetics. Where else is gold used for medical purposes? One of the most important areas of use of precious metal remains pharmacology.
Metal compounds are a component of some drugs that are used in the treatment of arthritis, malignant tumors, and tuberculosis. Among the examples of gold used in medicine are water-soluble drugs containing precious metal, which are injected as a patient for chronic arthritis.
Gold thiosulfate, administered to patients with lupus erythematosus, organic metal compounds used in tuberculosis. Radioactive gold used in oncology for the diagnosis and treatment of malignant tumors. Gold has another medical use.
The gold isotope, 198 Au, which has a half-life of 2.7 days, is used in the treatment of certain types of cancer and other diseases, as well as an indicator in the human body.
Compounds containing gold are used in injections to treat arthritis. Auranofin, a complex of complex organic molecules, is used to treat some cases of rheumatoid arthritis.
Although the consumption of small amounts of gold is essentially harmless, gold can be toxic, which is known when used in the treatment of arthritis. Skin rash is the most common side effect resulting from excessive consumption of gold for medicinal purposes.
Gastrointestinal disorders may also be present from time to time as a result of excessive consumption of the gold compound. The achievements of science, which gave gold-containing drugs to mankind, made it possible to achieve great results in the treatment of many diseases.
Especially as regards oncology, where radioactive gold is used, or rather the colloidal particles of its isotopes.
Besides, it helps to cope with some ailments and just wearing gold jewelry. The thesis about the beneficial effects of gold on the human body is actively used in the recipes of alternative medicine: It improves memory, prevents the development of atherosclerosis. Strengthens the heart and the entire circulatory system.
Helps to cope with colds. Adds vitality and energy. The beneficial properties of gold may not always benefit a particular person. Before being treated with gold, it is recommended to consult a doctor.
Even the simple wearing of precious metal products can cause a negative reaction to the body: fever, bowel pain, kidney problems, hair loss, and even depression. Such phenomena do occur in some people who are constantly in contact with gold.
4. Use in cosmetology:
The magic of gold. Revolutionary method of rejuvenation. It is known that gold has various magical and rejuvenating properties, so it has been used in cosmetology since ancient times.
The use of external means, which was based on gold, is described in ancient Chinese medical treatises.
The golden mask is a facial, neck, and decollete treatment offered by Japanese specialists. It is based on the use of gold plates. For the manufacture of such sheets is used 24-carat (or 99.9%) gold – perfectly pure gold, which does not contain any additives and impurities.
This is a completely new recipe for rejuvenation and healing of problem areas of the skin. And for this, it is not necessary to implant gold under the skin by surgical methods (implantation of gold threads is a gentle, but still surgical intervention).
Therefore, it can safely be said that the use of gold sheets (foil) is an excellent alternative to the rejuvenating procedure using gold threads. Gold threads in aesthetic cosmetology, gold-containing skincare products that, thanks to the antimicrobial action of the metal, help eliminate skin problems and their rejuvenation.
In cosmetology, gold is used for rejuvenation. The Cleopatra Mask, proposed by Japanese experts, contains sheets of 24-carat metal. Gold foil is applied to the face and, reacting with the skin, increases the production of collagen and elastin, due to which renewal and rejuvenation occur.
5. Use of gold in food:
Since gold is a sign of wealth, wealthy people try to use it in all areas. Everything is done to demonstrate their status and surprise others.
It is with this goal that edible gold appeared, which is also called tinsel. For the first time, such a variant of precious metal processing appeared in China, the mention of it dates back to 1700.
But gold leaf was originally conceived as an element of interior decoration. And only then confectioners came up with another use for gold. Metallic gold, the use of which in the food industry is permitted in many countries, is food coloring E-175.
Used in the manufacture of alcoholic beverages. When illuminated, the contents of the bottle create the perfect play of light and shadow. It is also known to use thin edible foil of gold. Serve Gold “at the party.
Gold in the form of very thin leaves (several atoms in thickness) is added to certain liqueurs from Eastern Europe, for example, Goldwasser liqueurs.
This gives a liquid shine in glass bottles; when light hits these “golden leaves” an unmatched picture is created. A clean sheet of gold has a long tradition of use in the kitchen in both Europe and the Far East. Exotic dishes are wrapped in 99.9% gold leaf, so thin that gold itself becomes edible.
Gold leaf is a type of metal processing in which it is rolled into a thin sheet with a thickness of 100 nanometers. This is facilitated by the physical properties of gold, such as The ductility, due to which the precious metal can be rolled out in a thin sheet or wire and at the same time preserve the integrity of the element.
Plasticity of the metal, Lack of interaction with the environment. The softness of the metal. Gold is a soft substance; in its pure form, a gold product can be crushed, left a scratch even with a fingernail, and deformed. Gold leaf has a formula or manufacturing sequence. The essence of the technique lies in the fact that at first a large bar of gold is cast.
Then the bar is cut into smaller pieces in the shape of cubes. They are put on the anvil for the precious metal and hammered with a hammer until the bars are flat. That the operation was successful and the bar turned into a plate, you need to apply more than two hundred blows with a hammer.
Of course, the whole procedure is mechanized, since it is necessary to beat the hammer in a certain order and place. This is necessary to break the bar evenly, to make its thickness very thin and uniform. Of course, in the old days, this was done by an employee with a good eye.
Now manufacturers are gradually moving from machines and conveyors to robots shifting the plates. The resulting plates fit into the book, which can contain up to three hundred pages. Plates should be free of cracks, scratches, or cracks. The manufacturing process itself consists of thirty operations, and each manufacturer keeps it secret.
Gold is included in European additives. For the first time, they began to add it to food in the USA, then fashion came to Europe and Russia. Also, precious metals as food decoration are used in China and India. It is believed that edible gold is useful from time to time to apply inside because it has such effects body cleansing; improving cardiovascular and liver function.
Confectioners especially love this decor for its unique appearance. The product can be given a smooth and shiny surface, which is very fashionable lately. As well as edible gold has no smell and taste, therefore it will not spoil the properties of the product and applies to any dish.
Some people also believe that the precious metal attracts good luck, so its use in food will bring the owner luck in life.
Of course, confectionery or other food to decorate with such a substance is an expensive pleasure. Therefore, most often the decor in the form of an additive E175 is found at weddings, anniversaries, and other celebrations of VIPs. Confectioners have learned to decorate the surface of the cakes, add small plates to other desserts.
In everyday life, it is hardly possible to find food with the addition of E175, the use of such raw materials in production is unprofitable due to low demand, which drives the company at a loss.
But recently a company in Switzerland released candies that were wrapped in a golden wrapper to surprise their customers with a novelty.
Also, you can often find alcoholic beverages, which contain leaf flakes. In Japan, it is believed that sake with the addition of precious metal particles brings less harm to the body. Golden flakes can also be found in such beverages as: “Gold Polubotka”, “Goldshleger”, “Gdansk Vodka”.
6. Gold as a financial instrument:
Gold is the most popular metal in which to invest. It is considered reliable insurance against political and economic crises. The investment attractiveness of gold is due to its primary function – money.
However, in modern conditions, due to the appearance on the market of the possibility of exchanging paper banknotes for gold, the role of the latter as money has been lost.
But at the same time, gold has become a kind of life-saving tool that investors use to protect their capital. Many countries have their gold reserves. Gold in finance – chasing, bullion. Since this precious metal is highly valued and has a very limited offer, it has long been used as a medium of exchange or as a currency.
The first known use of gold in transactions was made over 6,000 years ago. The total volume of reserves of all countries is 30 thousand tons. Over time, the volume of reserves decreased, so 50 years ago gold reserves in storage reached 38 tons. Gold reserves mean economic independence.
Also, the gold reserve plays the role of anti-crisis reserve and stabilization – adjustment of the national currency. The United States has the largest reserves: 75 percent of the world’s reserves. But many experts believe (this opinion is shared by President Donald Trump) that the country has no such amount of gold.
This opinion is based on the fact that the gold reserves were audited in 1953. Gold reserves of more than 60 other countries of the world are stored or partially stored in the USA.
The second place in terms of gold reserves in Germany. The third is the International Monetary Fund. Russia ranks seventh in the world in terms of the number of gold reserves: 1,614.3 tons of gold is in storage.
There is an opinion that if gold was not used as a means of investment, and the priority was its use in industry, scientific and technological progress would have walked the planet even faster.
This is especially true of space exploration. Gold used as financial support was most often produced in the form of gold bars. Their use ensured minimal production costs and ensured convenient handling and storage.
Today, many members of the government, individuals, and institutions keep their savings in the form of gold bars. The first gold coins were minted by the order of the king of Lydia (the region of modern Turkey) Croesus around 560 BC. Gold coins were widely used in transactions until the early when paper currency became the more common form of exchange.
Today, such coins are no longer used for financial transactions. However, gold coins issued in densities are popular ways to buy and own a small amount of gold for investment.
Gold coins are also issued as “memorable” items. Many people keep these commemorative coins because of their collection value and value as a precious metal.
7. The use of gold in electronics:
The most important industrial use of gold is the production of electronic components. Solid-state electronic devices use very low voltages and currents that are easily interrupted due to corrosion or tarnish at contact points. Gold is a highly efficient conductor that can carry these tiny currents and remain immune to corrosion.
Electronic components made of gold are highly reliable. A small amount of gold is used in almost every complex electronic device: cell phones, calculators, global positioning systems (GPS), and other small electronic devices.
Most large electronic devices, such as televisions, also contain gold. One of the problems of using gold in very small quantities in devices is the irretrievable loss of metal. About one billion cell phones are produced annually, and most of them contain about 0.02 g of gold.
The average service life of such devices is less than two years, and only a few of them are currently being processed. This type of electronic equipment works with very low voltages and currents and needs very small amounts of conductive and very thin sheets.
Any damage such as corrosion in the metal would interrupt the electrical transmissions. Gold is corrosion free and handles the circulation of such small electric 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.
8. The use of gold in computers:
In this modern digital age, the speed of data transmission is one of the priorities of every computer and this requires high-quality drivers. Gold is used in many elements of desktop (stationary) computers.
The fast and accurate transfer of digital information through a computer and from one component to another requires an efficient and reliable conductor.
Gold meets these criteria better than any other metal. Edge connectors used to connect microprocessors and memory chips to the motherboard, plugs, and video cards contain gold.
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 justify its high costs.
Gold is found mainly in cards, memory chips, and microprocessors. These pieces, together with those of other electronic items, represent the vast majority of non-recycled gold in the market.
9. The use of gold in the aerospace industry:
Gold is used differently on all spacecraft that NASA launches. Gold is used in diagrams because it is a reliable conductor and connector. Also, many parts of each spacecraft are equipped with a gold-coated polyester film.
This film reflects infrared radiation and assists to stabilize the temperature of the spacecraft. Without this coating, parts of the dark color of the spacecraft would absorb a significant amount of heat. Gold is also utilized as a lubricant between mechanical parts.
In airless space, organic lubricants will evaporate and be destroyed by intense radiation outside the earth’s atmosphere. Gold has a very low shear strength, and a thin film of gold between critical moving parts perfectly serves as a lubricant – gold molecules slide past each other under the action of friction, which provides a “lubricating” effect. The noble metal is actively used in the space industry.
All space suits of astronauts must be equipped with pure gold-coated light filters. For example, cosmonaut Alexei Leonov had a helmet covered with a thin layer of silver. This created many problems: the light was incredibly bright, and the lower part of the face was instantly heated.
After that, the choice of developers was made in favor of gold. The gold-colored foil protects aircraft from high temperatures and avoids corrosion. Specialists have created a special film for space objects.
They often use Kapton as a starting material on which a thin layer of gold, aluminum, and silver is applied.
Gold foil necessarily covers the windows of space shuttles. Onboard NASA’s interplanetary probes, Voyager -1 (Voyager) and Voyager -2, there are gold plated plates. These are information discs with a recording of earthly sounds and images.
The disc has greetings in 55 languages, 50 voices and sounds of the planet, 116 photos of the earth, plants, landscapes, animals. This is a unique collection – a message to our neighbors from other planets. It is gold that protects the valuable disc from erosion, which is possible as a result of exposure to cosmic dust.
The most famous mirror was assembled for the James Webb Space Telescope. It consists of 18 segments in the form of hexagons and weighs 705 kg. Each section of the mirror is made of beryllium and covered with a layer of gold, which is 100 nanometers thick. The telescope detects infrared radiation, which is effectively reflected by gold.
In 2017, the European Space Agency and NASA successfully demonstrated the LISA Pathfinder spacecraft. Thanks to him, scientists will be able to record data on the distribution of cosmic dust, which is formed from the movement of asteroids and comets.
Onboard, this device in a state of free fall is two cubes of gold and platinum weighing 2 kg. The main mission of LISA Pathfinder is to test the ability of the device to fly with precious cubes and to clarify the gravitational constant G.
10. Use of gold in awards and status symbols:
What metal is used to make the crown that the king wears? Of course, gold. Gold is the highest value metal. It is chosen to be used as a material for making them because it is this metal that is associated with the highest respect and status. Its attractiveness and value as a precious metal make it the perfect reward for special efforts or work is done.
It is a globally recognized symbol of achievement and power; the most distinctive use historically used is that of crowns of kings. It is also the metal from which religious objects are made.
For this reason, crosses and other religious symbols are made of gold. Gold is also used for items such as medals or trophies of first place in almost any type of competition.
Oscar, Golden Globe, Golden Raspberry, Grammy statuettes – gold-plated awards. Gold is very common in prizes for first place in sports and winners in artistic events in the entertainment industry, such as music, film, and television.
11. Gilding (gilding).
Gold has the highest ductility among other metals. This allows you to strike gold into sheets that are only a few millionths of an inch thick. These thin sheets, known as “gold leaf”, can be applied over the surfaces of picture frames or furniture.
Gold leaf is also utilized on the external and internal surfaces of buildings. It provides a durable and corrosion-resistant coating. One of the most attractive uses of gold leaves is on the domes of religious buildings and other important structures.
12. Investment use:
Even though gold, as we have already seen, is a “versatile” metal that is used in various spheres of life, its main functional purpose, dictated by time, is an investment.
The investment attractiveness of gold is due to some factors that can be divided into the following groups: Basic factors, Economic forces, Speculative factors, and Alternative factors.
The basic factors, as a rule, include the volume of supply of market leaders in gold mining, the demand for gold in various areas: jewelry, industry, medicine, investments, and other areas.
And the ratio of such supply and demand. The economic factors of the investment attractiveness of gold are a combination of such indicators: the general economic and political situation in the world. The US dollar rate about other world currencies.
The current interest rate set by the US Federal Reserve. Speculative indicators include speculative factors such as a speculative game of investors in the market. Gold trading indicators based on futures contracts. Forecasts of experts in the industry and investor expectations based on them.
And finally, the last in this list is the so-called alternative factors. Among which the most important is the profitability of several investment instruments: bonds, shares, real estate, and other things. Surprisingly, alternative factors have the highest significance.
This conclusion allows us to make an analysis of the dynamics of gold prices over the past forty years. This analysis allows determining the direct correlation between the quotations of gold, interest rates, and prices on the stock market.
13. Gold bath:
Due to its flexibility and malleability, gold can be reduced in 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.
14. Gold in religion:
In all religions, they can be noted by hints at entire chapters dedicated to Gold. In Egypt, the Pharaohs used this noble metal to give themselves importance and thus help their deification in the eyes of the population. Each deity was depicted with golden vestiges and always gold were the objects used by the gods and the pharaoh.
It is spoken of several times in the Bible and in the Gospels to arrive at the adoration of the Golden Calf by the Jews. Even in the Gospel of Matthew one of the Magi brings Gold as a gift. Even in the East, the Gold is considered one of the 7 Buddhist Treasures like faith. In Hinduism, the gold jewelry is dedicated to gods and goddesses.
In India, devotees dedicate the crowns made from gold to Sai. No matter the religious beliefs, gold is considered to be the pure and sacred metal that can be dedicated to the gods as their symbol of devotion.
15. Use of gold in art:
Painting and sculpture bear witness to many works in which gold played its symbolic function of sacredness or power. It is particularly used in the Middle Ages, in the sacred works in the form of illuminations but also in the paintings of many painters. Gold is the benchmark of respectability and luxury.
This precious metal has found application in modern painting and art. Often in the paintings of artists gold serves as the background – the image is written on the gilded surface of the canvas.
But there are special gold paints for painting. Their composition is a mixture of binder and gold dust. They are designed to work on canvas.
In Asia, as in the West, gold has always played a crucial role in the decoration of sacred images. The most famous example is the numerous gold-plated bronze statues of the Buddha. In India, gold leaf with tempera paint is used to apply patterns to fabrics.
For the art of China and Japan, the use of gold leaf and gold powder is especially characteristic not only in painting, but also in the painting of boxes, fans, and furniture.
Often, gold is applied by sprinkling, “maki-e”, with which at first an image is applied to the background (usually of black lacquer), which is powdered, until it has dried, with gold powders of various types. With irregularly shaped grains (yasuriffun), descended (nasheyfun), or large thin flakes (hiramefun).
The preliminary drawing is done in purple lacquer, on top of which gold or silver is applied. Then the whole product is re-coated with clear varnish and polished after drying. In the art of the Middle East and Persia, gold leaf is used in painting and book miniatures.
For example, a special edition of the classic poem of the great Persian author Nizami “Leyli and Majnun”. Here there is a miniature “Battle of the Tribes”, depicting the battle, which is watched by Majnun. The sky in the illustration is made of gold leaf.
In Thailand and Burma, gold paintings were painted on the outer walls of temples and shrines. A remarkable example of such art is the Wat Phra Kaew Bangkok temple with gilt spears and golden sacred images.
In our time, besides gold leaf, the portal is used (imitation of gold from alloys of other metals) and chemical compounds — tin sulfide.
Also in the design of interiors are widely used gold acrylic paints and dry pigments (powders).
Gold is too expensive to use for nothing. It is used only when it is impossible to determine less expensive substitutes. Because of their rarity and high prices, manufacturers are always looking for ways to reduce their gold consumption.
However, the amount of gold applications and demand has been steadily increasing over time.
Most modern ways of using gold have been developed only in the last two or three decades. This trend is likely to continue.
As our society requires more sophisticated and reliable materials, the use of gold will increase. This combination of growing demand and the rarity of this resource will lead to the fact that the value and importance of gold will steadily grow over time.