Gold is a soft, dense and ductile metal. Its scientific symbol is known as Au. Gold is yellow in color and considered very attractive. It has a high density. Gold is a sought-after precious metal primarily for jewelry. Gold has been the most common basis for monetary policies. Besides its monetary functions, it is also used in dentistry and electronics.
At the Earth’s core, is predominantly where most gold lies. Gold is the most ductile and malleable of all metals. It also creates alloys with many other metals. It is also a conductor of heat and electricity.
In terms of production, approximately 168 400 tonnes of gold have been mined. South Africa was leading in terms of gold production throughout the world and accounted for approximately 50% of all gold that had ever been produced. However, in 2007 China overtook South Africa as the world’s largest gold producer.
Extraordinary human achievements are rewarded with gold medals or gold trophies (such as the Olympic Games) Awards such as Nobel Prizes are also in the form of gold. Martial commitments i.e. Wedding rings, can also be made of gold.
Gold is the most popular precious metal that is used as an investment. Investors typically buy gold as a hedge against inflation or an economic crisis (such as an economic depression, social unrest or war) Similar other markets, gold are subject to speculation. Two institutions that play a fundamental role in the gold price are the International Monetary Fund and the Central bank.