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8 Common Uses & Applications of Gold—Part 2

When it comes to all minerals mined from the planet Earth, gold is often deemed the most useful and valuable because of its special properties such as strength, durability, ductility, and aesthetic value. For this reason, this precious metal has indeed so much to offer to the world.

In our previous article, we've learned that gold can be used for the fashion, medical, dental, and art industries. Today, we will tackle another four sectors where gold is deemed useful and beneficial:

5. Food industry

Did you know that the food industry also uses gold? What many people don't know is that it can be consumed or eaten. This is called edible gold, which is a special non-toxic form of precious metal. However, this costs more to produce than the non-edible gold, and it also doesn't provide any nutritional value.

As an example, gold consumption in Japan has become increasingly popular, where Kanazawa City comes up with 98 per cent of all gold leaf. This growing trend of trying foods and drinks in Japan is typically covered with thin gold sheets and flakes.

6. Electronics

In today's modern world, people are constantly hooked up with their gadgets and electronic devices. It's easy to see people heavily rely on their mobile phones, computers, televisions, and home appliances. But did you know that there will always be some small quantities of gold present in any technology we have today? 

With that being said, gold metals are ideal for gadgets and electronic devices as they are a perfect conductor due to their lack-of-corrosion properties. They are also compatible with various tools and devices, whether big or small. Ultimately, the metals are best integrated into pieces of technology due to their durability, ductility, and other valuable features.

7. Aerospace 

There is so much innovation in today's technology, particularly in the aerospace industry. Space institutions across the globe are continuously creating and launching devices, satellites, and even spacecraft into space for research. But did you know that gold is also a valuable resource in the aerospace industry? 

Gold metals are a perfect conductor and connector for complex machinery and sophisticated technology. As such, they aren't easily and quickly subject to wear and tear over time. This means that they don't require regular maintenance and repair and still can last!

8. Financial sector

Gold has long been used in the financial sector as a form of monetary transactions. In fact, its first known use dated back over 6,000 years, where gold and silver pieces were used as a form of money during ancient times.

History would tell that the early printing of paper money was backed by gold. The US also once used a "gold standard" as a backup for every paper dollar circulation. Today, this precious metal is no longer widely used as a direct form of financial transactions, but many people still keep it as a valuable resource and use it as a medium of exchange.

Conclusion

At this point, we've covered four other uses and applications of gold—the food industry, electronics, aerospace, and financial sector. To that end, be sure to consider all the valuable information discussed above. Gold has been a valuable piece and will continue to serve different people’s needs, especially when they need quick cash.

Are you looking to sell gold coins, bars, watches, or jewellery pieces? We've got you covered, as we have a scrap gold calculator in the UK that will help you value your items' prices. Use our gold price calculator now, or check our wide selection of gold nuggets!

2 thoughts on “8 Common Uses & Applications of Gold—Part 2”

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