What is gold?
When gold was discovered in an area, people rush to the mine in the hope of becoming rich quickly . This is because gold has always been one of the most valuable products that you can buy or sell. The nations have valued their currency based on gold. Jewelers and dentists used gold because of its purity. Famous buildings have been decorated with gold leaf. People even invest in gold bullion as part of their portfolio.
Gold is an element. This means you can not be divided into parts that are not gold. The chemical symbol for gold is AU. It has an atomic weight of 196.967. Melts at 1,945 degrees F (1062.8 ° C) and boils at 5,371 degrees Fahrenheit (-14.794 ° C). In the periodic table gold is number 79.
Gold does not rust or stain, can be cut into thin slices. It has been used in jewelry to decorate statues and domes of famous buildings from ancient times. Because it is a good conductor of electricity, is used in sensitive electrical equipment. The space industry uses gold foil spacesuits and satellites to protect against radiation, because gold reflects infrared radiation. It is also used in dentistry for fillings and hypoallergenic covers.
Gold can be extracted from the earth, from streams and seawater. Fractures in rocks are sometimes filled with veins or deposits of gold ore. The largest mine in the Western Hemisphere gold is in the Dominican Republic. Worldwide, the largest gold producers are South Africa, Australia, Russia and the United States, in that order.
Jewels of 24 carat gold are made of pure gold, 12 karat gold is only half gold, the rest of the metal in the jewelry is made of 12 karat gold is an alloy with either silver, platinum or palladium. As you would expect, gold jewelry 24K are much more expensive than 12 karat gold.
Gold is a valuable product that many investors hold a portion of their portfolio in gold. Some people buy gold bullion or gold coins so your money is protected from fluctuations in world markets. Most of the gold belongs to governments and central banks around the world.
The discovery of gold at Sutter’s Mill in California in 1848 caused many adventurers business traveling west to find gold. Years later, in 1886, gold was discovered in Alaska. More adventurous were there to try to get rich. They used a pot with holes in the bottom to sift through the sand in the bottom of the stream. The sand was drained out of the pan, but the nuggets were too large to pass through the holes. The gold rush was key to the development of these areas in the western United States. Even now, gold currents moving in these areas. It has become a popular tourist activity.