Gold is a precious metal. We all know that. But there are many more common uses to it. Read on to know more.
Whenever we talk about gold, the image of a shining, non-reactive, ornate, coinage metal gets imprinted in front of eyes, whose price is skyrocketing these days like anything as the economy is collapsing. From primitive times, gold has been a symbol of prosperity and wealth. In India, it is exchanged on auspicious occasions. In earlier times, it was the premium currency in so many dynasties. Since gold is so malleable and ductile as well as mixes well with other alloys, it’s in huge demand most of the time across the world. Therefore, with time, it’s popularity and value has only intensified. Its usage has also been diversified as the technology and time advanced. The top 5 usages of gold is being listed as follows:
Jewelry: This is the most common use of gold that can come to anyone's mind. The statistics show that almost 80% of the total gold gets converted into jewelry. In India, gold jewelry is gifted and received in pious occasions like weddings, Diwali, dhanteras, childbirth etcetera as a blessing. Because of its amazing shine and malleability, it’s made into different ornaments like gold bangles, earrings, tops, necklaces, chains, pendants, anklets in assorted designs that display the brilliant craftsmanship of all the Indian states. This precious metal is considered a treasured jewelry gift in Malaysia, illustrative of prosperity, affluence, and success. Gold’s various carat mixes make it the most versatile metal to achieve uniqueness of possession.
Finance and Investment: Gold plays a very important role in finance, investment, and the economy. Gold is so important that in an economy, the money and creation of currency by a country depends upon the gold reserve a country possesses. From primitive times, gold has been used as a currency widely across the world until cash emerged. As we move forward in time this precious metal has become a vital investment choice because of its fantastic buyback value as directed by the market. People can get gold loans where they get money by mortgaging gold. People also invest in gold bonds or even sell them back to get money out of it as and when demanded. People often buy gold bars which are often considered as a reliable asset. In an uncertain economy, gold has emerged as a possible financial staple.
Electronics and Computers: Gold is one of the best conductors to conduct electricity efficiently because it has considerably low resistance and a high melting point. Because of its high conductivity, it is often used in small amounts to make computer and electronics parts like USB, GPS systems, cell phones, auxiliary ports, pen drives etcetera. Since it carries electronic charges very quickly, it’s also used in laptops and computers for effective and fast file transfer. With low voltages like in mobile phones, the slightest corrosion at the contact points will disrupt the flow of current, so gold is utilized for its reliability as it is resistant to any corrosion. That’s why gold is a feature of high-end speaker cable connectors. Generally, gold is also used to mount processing chips onto motherboards.
Medicines and Dentistry: Gold has unique medicinal properties that have been in use since 2500 BC. This metal is still used to treat inflammatory problems such as Arthritis where gold-filled injections are given us treatment. Because gold is resistant to toxins and bacteria, it is used for internal surgeries too. Its nanoparticles are also used to treat cancer. In dental treatments too, gold has been frequently used for caps, crowns, and bridgework. Since gold is non-corrosive and durable, it can easily sit in the mouth without causing any degradation.
Medals, Statues, and Clothes: Because of gold's enormous value it's used to make medals for high on popularity and significance. From Academy Awards to Olympics, gold for its rarity and esteemed presence In the eyes of humanity is used to recognize prestige and achievement. Gold is considered to be an acute status symbol, most of the prestigious statues of famous personalities, aristocracy, and the people in power are made up of gold only. In India, an art form called zardozi work prevails where wires of gold are used for Composing designs in silk or any other expensive material which makes the apparel a prized possession.
These were the top uses of gold. Though we know that all that glitters isn’t gold, when the gold glitters, nothing else really matters. Gold can be fluidly used for various other legal as well as illegal activities. A lot of black money is stored in the form of gold. A lot of domestic violence cases include pressure on females to attain more gold from their respective homes. Gold can be your last-minute savior in terms of funds. It’s smart to use gold judiciously and with utmost care to harvest maximum benefits.
Written by - Saakshi Priyadarshini
Edited by - Sravanthi Cheerladinne
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