How is gold utilized in different sectors?
How is gold utilized in different sectors?
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1. Jewelry: Gold's exceptional lustre and resistance to tarnish due to its inert nature have rendered it a preferred choice for crafting jewelry for millennia. Over half of the gold consumed today is converted into jewelry. Gold is both ductile and malleable, which enables it to be shaped into intricate designs that retain their form and beauty over substantial periods. Its chemical inertness ensures it remains unaffected by most chemicals, thereby preserving its aesthetic appeal even after prolonged use.
2. Investment: Gold serves as a tangible asset that conserves its value over time, making it a popular choice as a financial hedge against inflation and currency instability. This is in part due to its limited availability – the cumulative quantity of gold mined throughout human history would fill merely about three Olympic-sized swimming pools. Gold's easy storability and globally recognized value also make it a sought-after asset during times of economic instability.
3. Electronics: With its superior electrical conductivity and high resistance to corrosion and tarnish, gold plays an invaluable role in electronics, accounting for approximately 10% of global gold use. Gold is integral to a variety of electronic devices, encompassing smartphones, GPS units, televisions, and computers. In these applications, gold is typically employed in connectors, switch and relay contacts, soldered joints, and bonding wires.
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