“Not all that shimmers is gold” is an oft-quoted adage. Maybe you’d like to learn a little more about gold before you walk into a gold shop the next time. It will help you make an authentic and valuable purchase.
Gold is a chemical compound, with symbol Au and numbered 79 on the atomic chart. It isn’t as chemically reactive as other metals. Gold is an extremely malleable metal, which means it can be beaten into any shape and form. Pure gold is 24K, and gold alloys or mixtures of gold with other metal impurities are measured in Carats(k).
Gold came into the earth some 200 million years after its creation, in the form of meteorites. Gold has historically been perceived as a symbol of wealth. Over the years, it has been used to create jewelry, coins, and precious art, as witnessed in the masks of Egyptian pharaohs.
Gold is primarily used in three ways today – for personal use or commercial use in the form of bars and coins, to make valuable adornments for ownership and gifting purposes and finally, for industrial and electronic usage i.e., laptops, dental appliances, surgical instruments are all made of at least a minimum percentage of gold. Africa is the largest producer of gold and India, the largest consumer.
Gold And Money
One of the most interesting things about gold is trying to determine how much gold exists on planet Earth and how much has already been mined. Of course there are various agencies that claim to have very specific answers, but they all have their own agendas and serve certain masters. Plus, there is that pesky issue of gold being replaced by swindlers with tungsten, an issue that has plagued even the most “sophisticated” and “prestigious” investors and professionals.
There is also the fact that gold is present on asteroids and other objects in space. This raises the issue of exactly how scarce it is and makes more people consider avoiding gold in favor of Bitcoin. When you look at the truth in terms of how banks create debt based money, there is a definite need for protecting wealth and purchasing power.