Chemical Formula: AU From Aurum (Gold in Latin)
Composition: Gold, traces of silver, may also contain traces of copper and iron
Color: Golden yellow to brass-yellow
Streak: Golden Yellow
Hardness: pure gold is 2.5 on the Mohs scale (the same hardness as a fingernail)
Is Gold a Mineral or Metal?
Gold is a mineral and metal. In the earth sciences, crystalline solids spontaneously occurring and unaffected by other life forms are often referred to as minerals. On the other hand, metals are essential compounds that exist naturally in minerals and are crystalline when they are solid. Additionally, they do not preclude one another from being minerals.
Gold is an elementary substance that cannot be divided into two or more different substances. Due to its dual nature as a metal and a mineral, it is a versatile precious metal with numerous uses. It is highly malleable and has good electrical conductivity; it is also used in technology and other fields that refine it.
What is Gold?
Gold is a chemical element located in Group 11 of the periodic chart. It is one of the densest metals. Gold is a good heat and electrical conductor. This metal and mineral is the softest and the most malleable and ductile of the elements. It has an atomic mass of 196.967 and an atomic number of 79.
Human civilizations have valued gold as a precious metal for a long time. This is due to the unique characteristics of this metal, which include its allure and brilliance, malleability, durability, and availability in nature in a relatively pure form. People highly value gold’s alluring hue, rarity, and resistance to tarnishing, and there are also several specific qualities that people love, which are only found in gold.
Gold is the element with the most applications. All of these reasons contribute to gold’s price being higher than that of all but a few other metals. Due to the incredible resilience of gold to corrosion, gold objects (jewelry, coins, etc.) from historic civilizations like the Egyptian, Minoan, and Assyrian civilizations are still in excellent shape.
It is one of the earliest types of money utilized by many ancient cultures. More recently, the mid-1800s California gold rush created a global desire for gold. Until the 1970s, most paper currency systems were backed by gold, continuing the significance of gold in monetary systems. All nations still accept it as a form of international payment because it is a metal with significant worth.
What mineral makes gold?
Minerals that make gold are calaverite and sylvanite. Also, embedded gold can be found in quartz veins or placer stream gravel. Gold is mined in various countries like Canada, Russia, Australia, South Africa, and the United States (Nevada, Alaska).
Uses of Gold
Here are various uses of gold
For at least 6,000 years, gold has served as a form of natural currency due to its scarcity and high value. Since the turn of the millennium, the stock market value of gold has increased. The United States once held its monetary currency to a gold standard. Gold has emerged as a potential financial mainstay in a shaky economy. Gold coins, gold bars, and other forms of bullion are some of the most popular ways to store or invest in gold. A growing number of people are buying gold through gold IRAs.
Before the US Dollar became entirely dependent on fiat, the US had a “gold standard,” in which they kept physical gold to back every paper dollar issued. People could also easily exchange their paper money for its worth in gold, thanks to the gold standard.
In 1999, Switzerland became the final nation to renounce the gold standard. However, banks around the globe continue to hold onto their gold holdings. Due to their low manufacturing costs and convenience in storage and handling, gold bars are the most often utilized type of storage.
For thousands of years, gold has been used to make jewelry. As opposed to most minerals, it is simpler to work with. In addition to being very malleable, shiny, and resistant to tarnishing, it is also quite valuable and appealing. It also became customary for these markers of social standing to be made of gold.
Gold is very soft. Thus it is frequently alloyed with other metals to create more robust jewelry. Because they are not valued like gold, a purity standard called Caratage had to be made. The percentage of the weight of other metals in alloys that are 24 karat gold (often denoted as “24K”) determines its Caratage.
12 karat gold is an alloy that contains 50% weight gold and 50% other metals (12K). It is 18 karat gold (18K) if it is 75% gold and 25% other metals, and so forth. Gold becomes more brilliant and softer as the Caratage increases. The more tarnish-prone something is, the lower the Caratage. In contrast, the alloy gets stronger. The alloy’s many metal components produce hues and tints that range from yellow to pink to green and even black.
In addition to being an excellent conductor of electricity and heat resistance, gold does not rust. It is a soft, malleable metal that may be easily stretched or coated with thin coatings due to its physical properties. These factors make gold ideal for electronics, especially cables and connectors. The demand from the electronics industry is rising, especially for cell phones, as consumer technology advances yearly. In 2017, 34% of the gold utilized in the US was used for electronics, which consumed over 1,400 tonnes of gold in 2018.
In addition to being aesthetically pleasing, gold is a chemically inert metal that is incredibly durable, nonallergenic, and easy to work with. These qualities make it ideal for dental applications such as crowns, bridges, and tooth fillings. Gold is the most prevalent metal for such surgeries, even though it is pricey.
Although archaeological evidence only supports this notion up to 1000 years ago, it is thought that gold has been used to repair cavities for over 2700 years. Up to the 1970s, there was a greater prevalence of the use of gold in dentistry, but the rapidly rising cost led individuals to search for alternatives. Despite technological advancements, gold is becoming more and more popular again due to health concerns because the most recent materials utilized are not as inert
Gold plays a crucial part in the aircraft industry, where dependable and efficient technologies are necessary for survival. Gold is used to lubricate mechanical components, conduct electricity, and coat the interiors of spacecraft to shield occupants from heat and infrared radiation.
Gold has been utilized in dentistry and medicine for a long time since it is non-reactive and non-toxic. Every year, new uses are uncovered, such as in prosthetics, where durability is crucial. Additionally, tiny doses of gold are injected in patients with muscle damage and Rheumatoid arthritis. Microparticles are also used in the treatment of some cancers. Gold has also been used in some Covid testing.
How is Metal Gold Used Throughout Industries?
Electronics manufacturing is arguably the most significant industrial usage of gold. Gold is an effective conductor that can move minimal currents while avoiding corrosion. It is utilized in connection strips, soldered joints, switch and relay contacts, and connectors.
It is also used to make pieces of jewelry, medicine, tools, etc., and more significantly, in the financial industry as a tool of investment.
How Does Gold Appear in Nature?
Gold is frequently found in its free elemental form as grains or nuggets. It is also found in a solid solution series with the parent element silver; It alloys with other metals land mineral inclusions.
If you are interested in owning gold and other precious metals, call American Bullion at 1-800-465-3472. We offer a wide range of products and services, including gold and silver coins and bars, as well as Gold IRA services. They also have a team of knowledgeable professionals who can help you navigate the market and make informed decisions about your investments. Contact American Bullion today to learn more about how you can diversify your portfolio with precious metals.