We assume you want to invest in gold & here to dig deeper and know some of the gold’s STATISTICAL FACTS, MAJOR APPLICATIONS & PHYSICAL PROPERTIES OF GOLD.
Let’s face it, going through the graphs and data on different websites with so many numbers and information is tiring and boring.
So we have compiled a list of all things stats with reliable sources that will take just a few minutes to read and give you an outlook on the gold market and demand.
This blog will give you a wide range of information about gold on a global and Indian scale.
- Top 5 uses of gold in the World.
- Top statistics of Gold from the world.
- Top 5 Physical properties of Gold
So let us begin –
Top 5 uses of gold in the World.
Aerospace industry
When the object is in space it goes through many harmful radiations & extreme heat. Continuous exposure to extreme radiation & heat can destroy equipment & machines inside. Gold`s property helps to avoid these things. Gold is valued in aerospace technology because it effectively reflects radiation. Such as in satellites, gold foils help with thermal control and protect onboard instruments from the extreme temperatures of space.
Electronic industry
Gold is a great conductor of current, which is widely used in electronics. Due to its very unique properties and its resistance to corrosion due to the naturally occurring gold oxide layer on the surface. Gold is also a very malleable, ductile and soft metal. Gold can conduct electricity without resistance and can be used in a variety of electrical contacts and electrical switches
Gold in the food industry
Gold has a long history of being used in the food industry, dating back to ancient times. Gold leaf was often used to decorate cakes and other desserts and is still used in some high-end restaurants. Gold flakes are also sometimes used as a decoration on top of food.
Medical industry
Gold is often used in small amounts to treat a condition called lagophthalmos, where a person cannot close their eyes completely. This can be remedied by implanting a small amount of gold in the upper eyelid, which “weights” the eyelid down and allows gravity to do its work in closing the eyelid fully.
Uses in the dental industry
Interestingly, gold was used in dentistry as far back as 700 B.C.!
Gold is used in dentistry because it’s non-allergenic and soft, making it easy for dentists to shape into orthodontic moulds like
- Filling Tooth
- Crown
- Bridge
- Grills for teeth
That is for the uses of gold in various industries. Now let’s explore some astonishing stats about gold.
Top statistics of Gold from the world.
- You might know that the price of gold rises with inflation, but do you know how much?
According to WGC ( World Gold Council ), for every 1% increase in inflation, there is a 2.6% increase in short-term demand for gold. So next time you think about buying gold, keep this point in mind.
- Do you know, how much investment gold generated in 2020?
As per the report by Statista, gold generated 25% returns on investment which is a good number for a haven asset. It has even given approximately 31% in 2007.
- RBI holds tonnes of gold
Yeah, you read it right. RBI holds tonnes of gold. As of March 2021, the central bank held 760.42 metric tonnes of gold. It uses these gold reserves to stabilise the economy in the event of unexpected economic instabilities.
- If we talk about gold demand in India statistics, Gold is owned by more than 75% of households in India. (IGPC sponsored by World Gold Council)
These numbers revealed India’s innate love for gold. According to the national household survey of gold consumption, 75% of Indian households own gold and 90% prefer to buy gold using cash.
- India became the 4th largest country for recycling gold in 2021. Isn’t that amazing?
It’s a shocker that even gold is recycled. As per an article by the economic times, India recycled about 75 tons of gold which is 6.5% of the total gold recycled globally.
That’s it for the statistics about the precious metal, now let’s explore the unique properties of gold which makes gold one of the most precious metals.
Top 5 Physical properties of Gold
- Gold is a super ductile metal.
Gold is an incredibly ductile metal, which means that it can be easily flattened out into a thin sheet. In fact, just one gram of gold can be stretched out into a sheet that covers an area of one meter.
- Gold is an excellent conductor of heat and electricity
Using gold in space is a good way to save on weight, and make sure that the equipment you’re using can last longer. Gold conductors are used on orbiters and space probes like Voyager and Cassini.
This type of equipment is meant to last a long time in the harsh environment of space, and gold is flexible enough for it to stay intact for a long time.
- Gold is highly lustrous
Gold is often used in jewellery and other decorative items because of its unique properties. Unlike other materials, gold does not absorb light or heat, meaning it is supremely reflective.
This means that no rays of light are absorbed in all, they are simply reflected. This property makes gold ideal for use in a variety of applications, from decorative items to solar panels.
- Gold has a high density
Gold is a heavy metal, and this heaviness is one of the key factors in many of the physical methods used to mine it. It is this heaviness that allows gold to be separated from other lighter materials through a process of panning or sluicing. It is also this heaviness that allows gold to be recovered from streams and rivers through the use of gold pans and other similar devices.
- Gold does not stain
Gold is one of the most corrosion-resistant metals – in fact, it is so resistant to corrosion that only strong acids like nitric acid and hydrochloric acid can cause any damage to it. This is why wedding bands are traditionally made of gold – because they are guaranteed to stand the test of time.
CONCLUSION
These were the amazing things about one of the most precious metal. This information is just a bit of information about Gold, as all the information can’t be confined in one single article.
If you are looking to save in the precious metal Gold than DigiGold is the great platform to begin your journey. Start saving now for a great future ahead.
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