3 Out of This World Gold Facts
Though the total amount of gold mined throughout history is unknown, it is estimated that around 244,000 metric tonnes have been extracted from the Earth. Today, gold is still used as a form of currency, but its value is based on market conditions rather than its physical properties. In addition to its role in the financial system, gold is also used in a variety of industries, including jewelry making, electronics, and dentistry. It is also a popular investment choice, as it is considered a safe haven asset. While most people think of gold as a precious metal, it is actually quite versatile and plays an important role in our daily lives. The following are three little known facts about gold.
Gold and Medicine
Gold nanoparticles are playing an increasingly important role in the medical sector. Their unique ability to absorb and reflect light makes them ideal for use in diagnostics and treatments. In particular, they have been shown to be effective in photodynamic therapy, a treatment for cancer that involves heating the nanoparticles with light to destroy the tumor cells. The nanoparticles are able to penetrate the cancer cells, making them an essential tool in the fight against this disease. In addition, gold nanoparticles are also being explored for their potential use in other medical applications, such as drug delivery and tissue regeneration. As research into their potential continues, it is likely that gold nanoparticles will play an even greater role in the medical sector in the years to come.
Gold and Aerospace
The metal's corrosion resistance and conduction abilities make it ideal for the aerospace sector.
Gold plating improves the overall performance of electronic components by reducing susceptibility to temperature, wear and abrasion. In addition, gold-plated parts are less likely to corrode or experience electrical failures. As a result, gold-plated components are often used in mission-critical applications. While gold is an expensive material, its unique properties make it worth the cost for many aerospace applications. Along with silver, platinum and palladium, there is more than US$15,000 worth of precious metals in a modern jet engine.
Gold and Accessibility
Gold’s history of hedging inflation and risk led to a 36 percent (351 MT) uptick in bar and coin purchases. Since 2004, bar and coin demand in North America has soared from 9.55 MT annually to 1,801 MT in 2021. European consumption has followed a similar trajectory, reaching 1,567 MT last year.
“I've been pleasantly surprised at the amount of firms that are offering access to physical gold, the number of different venues where you can own it,” he said. “For example, you can own gold in your IRA portfolio in the US, your retirement portfolio — it's not really well known, but it's starting to become more commonly done.”
The global head of sales applauded the companies that are engaged in offering clear cut ways to gain exposure to the yellow metals value.
“I'm talking about the fact that you can own physical gold and the firms that are doing it (are) sophisticated, they're energized, they're thinking about technology, they're getting to young people, they're getting to different places where they're getting the traction,” Cavatoni added.
Protect Your Portfolio
If you are looking for a safe investment that will hold its value even in times of high inflation, precious metals may be the answer for you. Check out our FREE eBook to learn more about using precious metals as a hedge against inflation. Our team at GMRgold can help you get started with your investments and provide guidance along the way.
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