Gold Rushed: Investing in Gold

Buying Gold may not be as bad as we reported that it was in this article on fed cuts affecting gold prices. Gold jumped nearly $25 on Friday.

Gold is now back over $900 an ounce, and as analysts continue to predict oil heading higher, gold may still be a great buy for those looking to get into a precious metal that will continue to be in high demand for years to come.

We report all too often on this and our other precious metals network blogs that this is a great time to buy precious metals like gold and silver. Why, because inflation is here, oil is rising, and the world economy is growing at a faster pace than ever before. Buying into metals that provide industrial needs as well as ornamental products is most likely going to prove to be a great move.

The Feds may not be able to affect this precious metal as well as some analysts thought.

Gold, the most sought after metal in the world is sought not only because of its luster but also for the various other properties it holds.

Properties of Gold

Gold is a good conductor of electricity and heat. An important property of gold is that it is resistant to corrosion: it does not react with air or any reagents.

Gold has the metallic properties of being malleable and ductile. The property of malleability lets gold get hammered into thin sheets without breaking. Its ductility allows gold to be drawn into thin fires. Gold can be melted and stored in different shapes. It also has the ability to mix with different metals and become alloys.

Applications of Gold

Jewelry: Gold has always been thought of as the pure metal. The brilliant yellow and the excellent luster have drawn people towards it for centuries. More than three-quarters of the world’s gold is consumed as jewelry. Gold’s ductile property makes it an excellent choice for casting jewelry. Gold combines excellently with silver, copper, platinum, aluminum, nickel, zinc, palladium, and cadmium to deliver a variety of differently-colored alloys.

Electronics: It may come as a surprise to know that the most precious ornamental metal also finds its use in electronic equipments, thanks to its electrical conductivity and resistance to corrosion. A certain amount of gold has invaded the information technology and electronics industry, and rightly so. Gold can be traced in your daily electronic and digital equipment like cell phones, computers, calculators, televisions, credit cards, and digital equipments. Gold comes to the rescue when handling very small voltages. You would argue why silver and copper cannot be used in such devices. Here, gold scores a brownie point because of its resistance to corrosion.

Engineering: Gold is used in numerous engineering applications as a lubricant. Gold is used in thermocouples and potentiometers. Gold is also used in architecture as glazing material for buildings; it helps in keeping the buildings well heated and ventilated. Gold has also found limited use in industrial brazing.

Medicine: From being present in surgical instruments to providing diagnostic support and cure in certain diseases, gold has gold has found some place in medicine. Certain compounds and isotopes of gold are used in the treatment of rheumatoid arthritis, Lagophthalmos, and some cancers.

Dentistry: Being biocompatible and chemically inert, gold serves as a great solution when the human body’s need for a metal in the mouth! Gold and its aloys are safe for the human body, making them the preferred choice for filling in cavities, inlays, crowns, and bridges.

Miscellaneous: Gold also finds its use in photography as a printing medium. Though tasteless, Gold has now entered the gastronomical zone, being served in food. In countries like Japan, tea, deserts and cocktails are now being served with gold dust and flakes! Apart from being ornamental, gold is being used in the beauty industry to aid beauty. Gold facials have gained popularity across nations. Some cosmetic companies are adding gold in their products. The ductility of gold has founds its use in embroidery as well.