Gold, a shiny yellow metal has been treasured by humans for thousands of years. Gold is usually considered as jewellery and coins which makes us think of gold in the reverse direction.
So what exactly is gold and why does it have its place in the category of being precious? Before picking the right gold ingot to buy or sell, you must understand a little bit about what is gold and where this special resource comes from.
The Story of Gold
Gold is a metal, like iron or copper, except that it’s much more scarce. It is, in fact, this rarity that has made gold so much sought-after by societies throughout history.
Gold was discovered in ancient times with people using the metal to form ornaments and coins. They traded with and bought goods in gold (this is why until nowadays gold remains expensive).
Where Does Gold Come From?
In the depths of the Earth, we can come across gold. This is created when molten liquids and gases meet underneath the earth in a boiling mixture.
This is left, and over millions of years, it cools down to become solid gold. Gold is frequently collected from rocks, rivers and streams. It requires people to extract material from the Earth (or sift through riverbeds) This process is deemed mining.
What Makes Gold So Special?
There is a reason why Gold is unique. For one, it does not rust or tarnish so it will stay sleek and shiny for many years to come. That is why gold has long been the foundation of stable, reliable jewellery that will be passed down from one generation to the next. Gold is a soft metal, and malleable. This makes it ideal for creating fine jewellery or elaborate embellishments.
Also, Gold Holds as a Colour and this is the 2nd reason why gold is Unique. Gold is distinct because although the majority of metals are silver or grey, gold has a golden colour that not only makes it different but also unique among other elements. Gold is a beautiful golden-yellow coloured metal for which most of the world has high regard.
How Is Gold Used Today?
And gold no, not the malleable precious metal in your jewellery is also good for plants and trees. These days, gold is used in some pretty surprising ways! Yellow is number 3, which sounds a lot like gold and can be further associated with clinking metal; great for electronics. There is gold in your phone or computer Since gold is a very good conductor, it readily allows electricity to flow through its interior. This makes it an ideal choice for electronic devices.
Gold is even employed in medical therapy Gold can be used by doctors in certain diseases such as arthritis. Gold is biocompatible for the human body so it can be applied in medical devices, such as you see pacemakers and helps to make your heart fight regularly.
The Value of Gold
When we refer to the value of gold — what is it worth? We regard gold as precious because it is scarce and looks nice. Gold is a commodity, so its price can be influenced by how much people want it and the conditions that change supply (e.g., mine production). For instance, if a crowd of people wants to buy gold then its price increases. The potential can be massive if there is a lot of gold, the price will go down.
Gold and Money
In ancient times people used to give gold coins as money. The world operates on paper and digital money today rather than gold but is still a significant component. Banks in many countries have tons of gold kept with them. This is what is called a gold reserve. Those are the reserves that the money is in use by actual people — not banks and speculators doing as they may from day to day. This is why, even though we rarely spend any gold coins today 2019 anymore, it still makes our money worthwhile.
Gold in History
Gold is a witness to history. Gold was used in works of art, temples and tombs of ancient civilizations such as the Egyptians, Greeks and Romans. The Egyptians, who also thought of gold as the flesh and blood of their gods with so much sacred wealth buried with them that it was never passed onto others (a practice which helped to keep Egyptians going for 3 millenniums), used vast amounts in their temples and tombs too.
So, during the 1800s there were Gold Rushes in the same way as people would go to places like California looking for gold. They were looking for gold to get rich. The amount of gold in this period demonstrates the high level at which people have always regarded gold.
Fun Facts About Gold
Gold is Malleable: Pure gold can be bent by hand!
Gold is heavy: Believe it or not, gold may be soft but this metal comparatively has very much weight. A book can be heavier than a small bar of gold.
Gold is a scarce resource — if every ounce of gold mined were melted down into just three Olympic swimming pools.
Golden being in space — Scientists claim that there is gold on Mars, the Moon and even Asteroids!
Gold and the Environment
Gold mining takes a heavy toll on the environment. The actual mining of the site can destroy whole areas, with harmful chemicals used to mine causing pollution in rivers and lakes. It is due to this that people are exploring new methods of searching and using gold in a way which does not harm the earth.
Well, there is one way and that is gold recycling. Gold in pieces of old jewellery and electronics can be reclaimed when they are no longer wanted. In other words, it will help us acquire the gold we need without having to mine additional gold.
Why Do We Learn About Gold?
It is important because gold is what Gold does. Gold is more than just a pretty metal; it’s in our history, science and even future. When we learn about gold, we also think of how the resources on our earth are made useful and at what expense can be fatal to it.
Now, the next time you see something shiny in gold remember there is more to it than just being pretty. From the jewellery on our bodies to gold in electronics or medicine, it is everywhere. Now that you have a better feel for “what is gold”, you can weigh in on all the roles it plays in our lives.