Some Interesting Facts About Gold

Metal Ounce Gram
Gold £1300.389 £41.808
Silver £17.725 £0.57
Platinum £772.818 £24.847
Palladium £1536.937 £49.414
Updated 07:29 22/10/21
Time Zone: UTC
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Some Interesting Facts About Gold

For some people, gold is simply an investment asset while for others, it is a valuable metal that has become a tradition with time. Surprisingly, gold is much more than that. In this article, we are going to make you familiar with some interesting facts about gold bars. So let’s get started.

Highest Gold Reserve

With more than 9,000 tons of gold deposit in the ground, Australia has the world’s wealthiest repository of gold reserves.

 Biggest Producer of Gold

South Africa has been the highest producer of gold over the past 100 years. However, it was overshadowed by China in 2007. In 2019, China represented 11% of the world’s total mined gold production. China’s gold mining industry is moving from quantity-driven growth to quality-driven growth, says gold.org.

 

Symbol of Wealth

Gold has been a symbol of prosperity throughout history. As a result, gold bars are considered the most popular precious metals for investments.

Chemical Element

A lot of people don’t know that gold is a chemical element. Its atomic number is 79 while the chemical symbol is AU. However, in comparison to other metals, gold is less chemically reactive.

The Good Conductor of Heat and Electricity

Gold is an excellent conductor of electricity that is not affected by air and other reagents. Moisture, heat, oxygen and corrosive agents have a less chemical effect on gold. Consequently, it is well-suited to make coins, jewellery, and gold bars. Electronic companies buy gold bars to use gold as contact metal. Gold wire is ductile and can be stretched out into the thinnest wire.

 

Purity of Gold

 

Gold purity is measured either in karat or in fineness. A karat is 1/24% of the weight of pure gold. Therefore 24 karat gold is pure gold. If you want to find the percentage of gold in an object when the purity is specified in karats, multiply the number of karats by 100 and divide by 24. So when next time you buy gold bars or coins, don’t forget to check their purity.

 

Gold for Rewarding achievement

Gold is a common preference when it comes rewarding someone. Generally, the achiever is cherished with gold bars, medals, trophies and statues. All Olympics, academic and noble prize winners get golden items in recognition of their achievement.

 

In the non-military field, the gold medal is awarded for highest achievement. In the arts, gold medals have been awarded since the 18th century. Today various renowned organisations, including UNESCO award gold medals annually.

 

Use of Gold in Health

According to some researches, injectable gold can be used to reduce pain in people suffering from rheumatoid arthritis, and tuberculosis.

 

If you’re looking for an ideal store to buy or sell gold bars, you can contact RPS Gold. They are one of the trustworthy and reputable gold dealers in England operating for the last 50 years. They are best known for their gold bars and coins. To learn more about their gold deals, you can call them at +44(0) 20 8574 2450 or write at mail@rpsgold.co.uk