Principal Uses Of Gold

PRINCIPAL USES OF GOLD

FINANCES AND INVESTMENT

• Gold is a long-term store of value inGold is a long-term store of value independent of other assets. As its price often moves contra-cyclically, it can protect or enhance the performance of an investment portfolio and reduce volatility. Demand for gold rose 10% in 2021, with increases in most areas including central bank buying and jewellery sales, as broader economic uncertainty and inflationary fears remained and consumer markets rebounded from poor sales during the first year of the pandemic in 2020
• 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.
• Central banks are also a strong source of demand, with volumes having increased steadily over the past decade

JEWELLERY & RECOGNITION

• 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.
• Historically, gold jewellery has been the strongest source of demand, accounting for around 50% of total demand. In 2021, jewellery demand rose 52%, recovering from losses sustained during 2020
• Jewellery is still the most common way gold reaches consumers.
• 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.

MEDICINE AND DENTISTRY

• Gold nanoparticles are used in rapid diagnostic testing, which have helped to revolutionise the diagnosis of diseases such as HIV/Aids. Gold nanoparticles also deliver anti-cancer drugs directly to tumours.
• 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.
• Gold-based drugs are being developed to treat diseases such as rheumatoid arthritis.
• Gold’s being malleable and non-allergenic makes it ideal for use in dentistry.

AEROSPACE & ELECTRONICS

• 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.
• 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.