The Many Industrial Uses of Gold Spike Gold Demand and Gold Prices



Gold is also perhaps the most valuable mineral in existence. It is used in so many industries that no matter who you are or where you are, you encounter gold every day. With gold prices rising, there is really no better time to invest. However, what uses come from this metal that cause gold prices to rise all the time?

Gold - Gold Bullion Bars - Buy Gold Bar - Buying Gold BarsFor thousands of years, gold has been primarily used in the jewelry industry. Nearly eighty percent of all gold mined around the world is turned into jewelry. Its color is wonderful and it can be easily shaped into any kind of jewelry, from earrings, to rings, to necklaces, to bracelets. Not only is gold used in the jewelry industry, it's also used for other adornments. It is used for ceremonial metals, as well as trophies, such as those given out at esteemed, world-famous award ceremonies.

Moreover, gold has been used as currency for thousands of years. Although it's not really used as an exchange currency anymore, it is still useful financially. Remember how we talked about investing in gold? Today, gold is used to produce investment-quality gold, such as gold bullion bars and gold coins. When gold prices go up, people take their physical bullion and sell it for a profit. Gold is also used to produce collectible coins.

You might have a thing for silver jewelry, and you might not own any gold coins, but we're willing to bet that you have a cell phone. Tiny amounts of gold are used in nearly all cell phones. Since gold is such a good electricity conductor, it's also used in other electronics too. Do you own a calculator? How about a television? A computer? Even the global positioning system (GPS) in your car has gold in it!

If you've ever been to a dentist, you've been in the same room as gold. Since gold is non-allergenic and safe to have in your mouth, it is used in the dental industry. Gold is used to create fillings, bridges, crowns, and it’s used in orthodontics.

Wait, there are even more uses for gold! Ever heard of NASA? Gold is used in the production of space vehicles. Gold reflects radiation and keeps the temperature of the space vehicle regulated. It’s also used to protect the astronauts who go into space. Gold can be found on their suits and helmets because it reflects solar radiation. As you can see, gold is a wise choice for investment, simply because of the vast number of diverse uses.

 

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