The Biggest Uses Of Gold In Different Industries
There are many uses for gold other than only for jewellery, and there are often things in your home that contain the precious metal of which you may not be aware of. If you have ever wondered what happens to all the gold mined each year, then the answers are below.
Below you will see a breakdown of the different industries that use gold, starting with the most popular first.
Gold Used For Jewellery
The most common use for this shiny precious yellow metal is jewellery, and it has been this way for a long time – thousands of years. The jewellery sector accounts for about 48% of the gold mined each year, and the demand does not look like it is decreasing any time soon. You often find that other metals are added to gold to make it more durable, which also affects the colour, but there are other uses for gold.
Investment in Gold Bullion
The next most significant use for gold is an investment vehicle, and people will purchase gold bullion, coins, and other forms of gold to keep. It’s important to be updated on gold bullion price Brisbane and other major cities around the world are disclosing, as well as on the other forms of gold, whose value has increased over the years. In 2019, gold as an investment accounted for about 30% of the market distribution of gold. If you are looking to invest in gold, Google is an excellent place to start your search for a reputable dealer near you.
Gold In Electronics
As gold is an excellent conductor of electricity, it is also widely used in electronics and can be found in many different devices, some of which you most likely own yourself. You can find gold in Smartphones, wiring, televisions, computers, and many other electronic devices. There are also other precious metals in these electronic devices, and before you smash your phone to bits to get at the gold, it is in a low quantity and needs some expertise to extract it.
Gold In Medicine
Gold is also found in medicine, and you can see it in dental fillings, as well as many different types of medication that people consume. You can find that gold can be used to treat certain cancers by extracting a radioactive gold isotope and implanted into tissue, and you can also find that you can use gold for surgical instruments.
Gold In The Aerospace Industry
It is common to see gold being used within the aerospace industry and often used when manufacturing components for satellites. You can also see gold being used as a coating for telescopic mirrors used in space and can help enhance images taken from afar. It is often made into a thin layer of gold leaf as they need to keep the weight down of anything sent into space because of the enormous costs involved.
There are other uses for gold also, although these do not take up a lot of the gold that is produced yearly. It is common for gold to be used in awards and medals, such as the Olympics, gold records, and acting awards. The amount of gold available to mine in the world is decreasing all the time, so one thing is for sure: its price will keep increasing.
