10 Incredible Uses for Gold in the World Today

Civilisations all across the world have coveted and revered gold for as long as records have existed. This most precious and useful of metals features unique properties, and it is thanks to these that make it a top choice for a wide variety of industries. In this blog, we take a look at some of the many uses for gold today.

1. Currency & Investment

Gold is rare and highly valued and has been in use as currency all around the globe for thousands of years. The timeless rarity and usefulness of gold make it a desirable substance that holds a store of value, even today in our technological world. Durable, valuable and easily divisible when needed - gold is often seen as a safe haven during times of economic instability, when other assets lose value.

Investment in precious metals has been on the rise in recent years, as investors focus on physical gold as a means of financial security. Gold coins may no longer be widely in use for everyday financial transactions these days, but gold bullion bars and coins are still a popular way for people to purchase, store, and invest in their future.

2. Jewellery

The majority of gold consumed each year comes from the jewellery trade. Due to its beauty, durability, and tarnish resistance, gold has been used to make jewellery for many thousands of years. Able to be alloyed with other metals as well as the ability to be easily moulded into a variety of shapes and styles, gold is an adornment that is revered and never seems to fall out of fashion. Demand for gold jewellery tends to spike around September during the Indian wedding season, as well as December before Chinese New Year celebrations.

3. Electronics

Gold is an efficient conductor and can carry small electrical charges. Because of this, a tiny amount of gold can be found in almost every electrical device including mobile phones, televisions and GPS units. A single mobile device can contain up to around 50 milligrams of gold which means that hundreds of millions of dollar’s worth of the precious metal is used in the manufacturing of mobile phones each year.

4. Dentistry

Gold is reported to have been used in dentistry as early as 700 B.C and was probably used to fill tooth cavities in ancient times. Used widely up until the 1970s, when rising prices saw the development of other materials to be used instead, gold was used for the likes of crowns, fillings and bridges due to it’s ease of working as well as it’s nonallergenic properties and, of course, it’s aesthetic appeal.

Concerns over long-term health implications over the use of other materials have recently seen the amount of gold used in dentistry start to rise again in recent years.

5. Medicine

Gold is used in medicine to treat a variety of conditions such as rheumatoid arthritis, certain cancers, and some eye conditions. Pieces of equipment used in the medical field such as life support machines, surgical instruments and many pieces of electronic equipment contain small amounts of gold due to it’s nonreactive properties and highly reliable nature.

6. Computers

Both desktop and laptop computers require a reliable conductor for a fast yet accurate transmission of digital information, and nothing meets these requirements quite like gold. The plug-and-socket connectors to attach cables, as well as the connectors used in memory chips and microprocessors all contain gold. Often alloyed with other metals such as nickel to increase durability, the importance of gold as a high quality and reliable material in these machines cannot be overstated in this digital age.

7. Aerospace

Reliable and effective materials are extremely important in the field of aerospace, and gold plays a dependable and essential role. In every single vehicle that NASA launches into space, gold is used in hundreds of ways. The precious metal is used in the circuitry, as well as to lubricate the mechanical parts within the spacecraft, and also to coat the inside of each craft - protecting the astronauts from infrared radiation and extreme temperatures.

8. Gold Leaf

Gold is highly malleable and can be worked into sheets that measure just a few millionths of an inch thick, known as ‘gold leaf’. Gold leaf has been used throughout history to create a beautiful and eye-catching coverings on the external and internal surfaces of buildings such as religious temples and royal palaces. Gold is surprisingly durable and can help protect against corrosion, and is also used to decorate furniture and picture frames.

9. Glassmaking

Climate-controlled buildings use gold in the making of the special glass to cover their buildings. A tiny amount of gold is used within the glass to reflect solar radiation and helps the buildings stay cool in the summer. This gold within the glass also helps to keep the building warm in winter by reflecting inward the heat already inside. Pigmented glass is also made using a small amount of gold suspended within the glass.

10. Status Symbols

Gold has long been associated with high esteem and seen as a status symbol, so of course it is the metal of choice when it comes to religious objects and royal items. Important achievements are also historically honoured with an award made of gold - Academy Awards Oscar winners are given a golden statue; Olympic Games winners are awarded gold medals. Gold is proven again to be THE metal treasured and admired all across the world.

This blog represents one person’s opinion only. Customers should conduct their own research and take advice before making an investment. We do not offer investment advice.