Due to its limited supply and high value, gold has been used for investment for a long time. However, apart from being a financial investment, there are different situations and areas of use that increase the demand for gold.
Generally speaking, gold is much more beneficial than other naturally occurring minerals such as itself. For example, gold conducts electricity, can be converted into layers or wires, can make good alloys with other metals and does not tarnish. Gold can also be easily melted and converted into numerous forms. Its usefulness is also due to its unique features.
Apart from being an investment, we can say that there is always an endless global demand thanks to the wide range of uses and these demands continue to affect the price of gold.
So, what are the most commonly used areas of gold? Here are the most common areas of gold.
Gold was used for centuries to make jewelry and decorative objects. Today, a large proportion of recycled gold continues to be used in jewelry. More than 78 percent of the gold used every year is used in jewelry making.
Popular features that make gold perfect for the jewelry industry include color, high gloss, ease of shaping, non-staining, durability and non-tarnishing.
Due to its limited supply and high value, gold has been used for investment for a long time. On the other hand, the fact that it can be easily converted to money almost anywhere in the world makes gold unique.
The first use of gold, known as a means of exchange, dates back 6,000 years. In ancient times, silver and gold pieces were used to trade. Paper coins of a period including the US dollar were supported by gold.
Gold is used to treat certain medical conditions, such as cancer. Some radioactive gold isotopes are implanted in tissues to aid in the treatment of certain types of cancer.
Gold is also used in the treatment of lagophthalmitis, which is known as the condition that the individual does not close his or her eyes completely. Lagophthalmitis is treated by injecting a small amount of gold into the upper eyelids. Gold increases the weight of the eyelid and gravity helps to close the eye completely.
It is suitable for making various dental materials such as gold alloys, orthodontic devices and fillers and is frequently used in this sense. The main reason for this is that gold is easy to use and not allergic.
A little gold is also needed when integrating memory chips and microprocessors into the motherboard of computers and smartphones. The durability of gold is expanding its use in the field of technology.
If you are interested in investing in gold, see our article on how to invest in gold and learn tactics on how to make your investment more profitable.