The Different Things You Need To Know About Gold’s Value
Maybe gold really is abundant. The massive amount one is to get for just an ounce of this is exhilarating! The gold exchange is becoming more and more competitive. There are many ways gold may be used: jewellery, bullion reserves, and even in mobile phones. Here are some facts surrounding the statistics of gold.
Gold is Very Valuable
Measured in Carats, one of the most valuable elements of the earth is Gold. Au is its short name. Almost all of it came from an asteroid that hit earth 200 million years after it had formed. This kind-of-extra-terrestrial element is treasured by most because of its rarity on earth.
Also, 14k gold is already at $24.02 per gram! 24K is at $41.17 per gram. In fact, it is so valuable that trading your lifestyle for another is one way to get it. You have to be in Dubai, though. Children who lose a pound there gets 2 grams of gold!
Its high resistance to corrosion and oxidation brings about almost complete indestructibility. Gold however, can be corroded with man-man made acids. It is also very malleable and doesn’t break easily! This is the reason why jewellers love gold as a material. See the Mclaren F1’s engine? It’s also made of gold.
Gold is used in mobile phones and all kinds of technology that uses circuits because it is a great electric conductor. Throw away a ton of personal computers and you get more gold than 17 tonnes of gold ore.
Apple have even recovered 2,204 pounds of gold in their broken iPhones last 2015 that amounts to US$40 million. To top it all off, the 24k gold can only melt when it reaches 1063 degrees Celsius or 1945 Fahrenheit. Only through fire can this elements be distinguished from fakes.
Facts about Gold
Though gold is found in every continent on Earth, most of it (half of all in the world) comes from South Africa. In a place called Witwatersrand. Also, 11% of all the gold in the world are owned by Indian housewives – toppling the reserves of the U.S., Switzerland, Germany and the IMF.
However some people have Aurophobia or the fear of gold and never gets comfortable around it. However, even humans bodies have gold. That is 0.2 mg per person. It is so rare, that 3 olympic swimming pools will be enough to contain all gold that has been mined in all history. Go to Australia for a feat of two and then discover that they have the most expensive gold coin.
1,000kg of 99.9% pure gold, which is US$45 million when sold. Maybe the greatest feat gold can do other than gold exchange, is give hope to humanity. By injecting gold, reports say that it can cure cancer. Doctors are experimenting on its nanoparticles to fight off carcinogens. This sequentially lowers further chances that cancer might develop to a state of irreversibility. These are the reasons why gold is very valuable to people.