Gold is among the most "in demand" metals as it's used all around the world for a variety of reasons. This demand is one of the main reasons why it's so highly valued.
Here are some of its main uses:
Ornaments and Jewelry
Gold jewelry is bought and sold all around the world. It can be turned into beautiful rings, earrings, bangles, etc.
India is one of the largest consumers of gold. Some reports suggest that countries like India, the UAE, and Pakistan can single-handedly control gold prices.
Since gold is ductile, corrosion-resistant, malleable, and a good electrical and thermal conductor, it's heavily used in many industries.
You will find gold in many household appliances including microwave ovens, telephones, and wheelchairs. Almost all circuit boards contain small amounts of gold. It's typically extracted and sold after appliances are of no use.
In addition to this, it's also used in the manufacturing of spacecraft and satellites as it provides good protection against solar radiation. Moreover, if you look around, you will find that gold is used in medicines as well.
Gold is biologically inactive and is heavily used by researchers. Lastly, it's also used in foods. It's a new trend; however, it doesn't presently affect gold prices.
Gold is considered a safe haven. Investors typically turn to gold to protect their wealth against recession. Gold can even be a part of one's retirement funds to safeguard the future as it doesn?t only protect against recession but against inflation as well.
As evident, gold is used all around the world and is expected to continue to increase in value as its demand is only on the rise. If you're looking for a good investment, consider the shiny yellow metal.