Gold has been considered valuable and used for various purposes throughout history. Some of the most common uses of gold today are in jewelry, investments, technology, and industry. Gold’s unique properties, such as its conductivity, malleability, resistance to corrosion and oxidation make it well-suited for many applications.
Jewelry
One of the most widespread uses of gold is in jewelry. Gold jewelry has been highly valued for centuries across many cultures as a symbol of wealth and status. The distinct gold color and luster make it a popular choice for rings, necklaces, earrings, bracelets and other jewelry.
Pure gold is very soft, so it is often alloyed with other metals like silver, copper and zinc to increase its hardness and durability for use in jewelry. Alloys with higher gold content like 18K or 24K are considered more valuable and precious. The karat measurement indicates the purity of gold present in the alloy. 24K gold is 100% pure gold, while 18K gold contains 75% gold and 25% other metals. 14K gold contains 58% gold and 42% alloys.
| Karat | Gold Content |
|---|---|
| 24K | 100% |
| 22K | 91.7% |
| 18K | 75% |
| 14K | 58.3% |
| 10K | 41.7% |
Gold jewelry comes in various styles from simple bands and chains to ornate pieces with precious gems and intricate designs. It is a popular gift for special occasions like weddings, anniversaries, graduations and birthdays. The timeless beauty and value of gold jewelry ensure that it remains a vital part of many cultures and family heirlooms passed down generations. According to Allied Market Research, the global gold jewelry market was valued at $248.6 billion in 2020 and is projected to reach $266.5 billion by 2028.
Investments
Gold is a popular investment and method to diversify assets and hedge against inflation or economic crises. Many investors and financial institutions hold investments in gold like physical gold bars, bullion, gold certificates, gold exchange-traded funds (ETFs), mining company stocks, futures contracts and other gold-based assets. It is viewed as a store of value and safe haven investment during times of political or economic instability.
Gold bars and bullion provide direct exposure to physical gold. Gold certificates represent ownership of gold stored in vaults. Gold ETFs are securities that track the gold price and can be easily traded. Futures contracts allow investors to speculate on gold prices without owning physical gold. Shares in gold mining companies offer indirect exposure to gold prices.
Some key advantages that make gold an attractive investment include:
- Limited supply – Gold is a rare metal with relatively limited supply that takes effort and expense to mine.
- Inflation hedge – The gold price historically rises during high inflation periods.
- Currency hedge – Gold holds value regardless of currency fluctuations.
- Portfolio diversification – Gold prices often move independently of other assets like stocks and bonds.
- Safe haven asset – Gold retains value during economic downturns or geopolitical crises when other assets decline.
- Tangible asset – Physical gold is a real, tangible asset with intrinsic value.
The World Gold Council estimates that global gold investment drove record gold demand of 4,021 tons in 2020, a 40% annual increase. Gold remains a popular investment for central banks, hedge funds, pensions, individual investors and more seeking diversification and stability.
Technology
While gold is often associated with jewelry and finance, it also plays a significant role in technology and electronics due to its unique conductive, thermal and optical properties. A small amount of gold is used in almost every sophisticated electronic device.
Gold is highly conductive and does not corrode or lose connection over time. The electronics industry utilizes gold in wiring, connecting pins and connectors present in nearly all computers, cell phones, home appliances and other devices. Gold coating is often applied to connectors due to its ability to efficiently conduct electricity.
The table below shows the estimated amount of gold used in key electronic products:
| Electronic Product | Gold Used (grams) |
|---|---|
| Smartphone | 15-20 |
| Tablet | 3-5 |
| Laptop | 25-50 |
| Desktop computer | 50-100 |
| LCD monitor | 250 |
| TV | 20-50 |
Gold is also used in electronics due to its thermal and optical properties. It is an excellent heat shield and infrared reflector, helping to prevent overheating in integrated circuits and microchips. Gold reflects infrared radiation, making it useful for shielding spacecrafts and astronauts??? visors. The optical properties of gold also make it very effective for use in fiber optic cables that rely on gold???s ability to transmit light.
Overall, about 7.5% of gold consumption is attributed to electronics, according to the World Gold Council. With increasing technological innovation and electronics production, gold will likely continue to play an essential role in the electronics sector.
Medicine
Gold also has some medical and health applications due to its antibacterial and radiation blocking abilities. Gold isotopes are used in certain cancer treatments. Tiny gold particles help doctors more accurately diagnose diseases through enhanced imaging of diseased tissue.
Gold isotopes emit radiation that can destroy cancer cells in a treatment called gold nanoparticle-aided radiation therapy. Radioactive gold-198 seeds are implanted near tumors to provide localized radiation treatment. This approach can minimize damage to healthy tissues compared to broad external beam radiation.
Colloidal gold consists of miniscule gold particles suspended in solution. Under an electron microscope, the particles attach to targeted antigens and create a visible marker that allows technicians to detect diseases with greater accuracy. Tests based on gold nanoparticles and markers enable earlier diagnosis for diseases like HIV, cancer, Alzheimer???s and many more. Doctors can also better assess the disease???s progression with enhanced testing capabilities made possible by gold markers.
Gold coatings are also sometimes used in medical implants like stents to reduce inflammation and improve biocompatibility with the human body. Gold flake infused glass creates deep red stained glass that scientists leverage to study bloodstained tissue samples under the microscope. Overall, gold has many intriguing medical applications and will likely continue facilitating improved diagnosis and care.
Aerospace
Gold has advantages in aerospace applications because it efficiently reflects infrared radiation and efficiently conducts electricity. Gold coatings on the windows of aircraft and spacecraft protect aircrews from radiation at high altitudes. Helmet visors coated with an ultra-thin layer of gold combat the glare and infrared radiation experienced by jet pilots.
Gold plating is often applied to electrical wiring and connections in airplanes and rockets because of its reliability. Gold???s anti-corrosion properties are useful in the moist, high-salt environment encountered during space missions. The conductivity and malleability of gold also make it an ideal material for astronaut suits and gear.
In satellites, gold films assist with thermal regulation and shielding from electromagnetic interference. Collisions and degradation encountered in space can erode gold coatings over time. However, NASA and other space agencies commonly rely on gold for critical applications on satellites, shuttles, rockets and space stations given its proven performance and durability over time in space.
Food/Beverage
While less common than other uses, gold is sometimes utilized in the food and beverage industry as an additive. The element’s distinct shimmery appearance makes it appealing for garnishing select foods and drinks. Ingesting small quantities of gold is considered safe for consumption with no nutritional value.
Gold leaf, dust or flakes are occasionally added to specialty dishes and beverages to create a glamorous, sparkling aesthetic. Some examples include:
– Desserts like chocolates, sweets or honey coated with edible gold leaf.
– Upscale coffee topped with gold flakes or gold dusted cream.
– Premium alcoholic drinks and cocktails containing floating gold leaf or gold liquor.
– Exclusive sushi rolls wrapped in gold leaf.
The usage of gold as a food garnish is most common in upscale, high-end dining establishments. While it provides an elegant, opulent visual appeal, gold has no flavor and does not necessarily enhance taste. With a high cost compared to other food decorations, gold is primarily added for the attractive, luxurious presentation rather than for palatability. The shiny accent helps create a more memorable, indulgent dining experience associated with special celebrations or exclusive venues.
Dentistry
Gold alloys are commonly used in dentistry to create crowns, fillings, bridges and other dental restorations due to gold’s biocompatibility and aesthetics. Gold is inert, nontoxic and easy to work with, making it a popular material among dentists for inlays, onlays and tooth replacements.
Dental gold alloys consist primarily of gold blended with metals like silver, copper, palladium and others for increased durability and hardness. Unlike cheaper metals like silver amalgam, gold dental work does not tarnish, corrode or cause reactions in most patients. The gold color also provides a pleasant aesthetic matching natural teeth.
Advantages of gold in dentistry applications include:
- Biocompatibility – Gold is well tolerated by gums and does not cause allergic reactions.
- Durability – Gold dental work can last over 20 years with proper care.
- Aesthetics – Gold color matches teeth better than silver or metal restorations.
- Ease of use – Gold is malleable and easy for dentists to fit and sculpt dental appliances.
While more costly than composite resin or silver fillings, gold dental work offers exceptional longevity and performance. Gold crowns and bridges do not chip or fracture like porcelain. The fit and function of gold dental appliances also surpasses other non-metal materials. Thanks to its advantages, gold will likely maintain a key role in dentistry.
Glassmaking
Gold compounds like gold chloride and purple of Cassius are used to produce shades of brilliant red, purple and ruby colored stained glass. The vibrant, intense glass colors are created by adding tiny amounts of gold in the glass mixture during production.
Gold glass dates back over 4500 years to ancient Egypt and Rome. In the modern era, gold glass manufacturing further expanded in the 19th century. While various colored glass can be achieved using other elements like manganese, iron and cadmium, gold remains essential for reliably creating the coveted crimson reds prized in stained glass windows, mosaics, decorations and tableware.
The addition of gold to molten glass produces dichroic glass with striking optical properties. Dichroic glass changes color when viewed from different angles due to the gold nanoparticles dispersed in the glass that interact uniquely with light waves. This striking visual effect made possible by gold has decorative and scientific applications.
Gold chloride and other gold compounds provide glassmakers with an unparalleled degree of control over the transmittance, absorption and reflection of light waves passing through the glass. The correlation between the precise concentration of gold compounds and the light effects they produce has made gold a vital tool for glassmakers seeking to master hues of red and purple.
Environmental Protection
Gold nanoparticles are emerging as a useful tool for decontamination and purification in environmental science applications. The gold particles provide increased surface area and reactivity that enhances absorption of pollutants from water sources.
Recent research found gold nanoparticles loaded onto silica gels were over 85% effective at removing lead and chromium from wastewater in just minutes. The gold chemically captures the heavy metal pollutants for swift removal from water sources.
Gold nanoparticles coated with iron oxide have been utilized to absorb and separate oil from water. The hydrophobic particles attracted and bound to the oil, enabling easy elimination of oil spills and contaminants.
Ongoing environmental research continues to reveal new ways gold nanotechnology can be applied to tackle challenges like industrial chemical capture, water purification and oil spill remediation. Gold’s unique chemical and physical properties at the nanoscale present many exciting opportunities to advance environmental protection.
Conclusion
Gold’s role is more diverse than just jewelry and bullion. Its highly useful properties allow gold to feature across a broad range of industrial, medical, electronic, aerospace and other applications. Gold will likely continue gaining new versatile uses as technology and innovation open up additional possibilities. Yet despite new developments, gold’s core functions in finance, adornment and electronics ensure it will remain an essential and coveted element for years to come.
