Explore the most practical uses of Gold | CoinBazaar.in

Gold is one of the most popular commodities since it was first used as jewellery in 3000 BCE.

Did you know? Gold does not react with oxygen even at very high temperatures, that means the reactivity of Gold with other elements is very low hence Gold is categorized under Noble Metals. We will now find out how this popular commodity can be used in other sectors.

Money

Long before the coinage era, Gold was used in the barter system due to the scarcity of the metal, the ideology behind using Gold as money during 8th Century BCE was advanced in Asia Minor. The history and the stories that Gold carries with it makes it a favorable asset to own. 

The monetary system in the United States allowed US Dollar to be backed by Gold starting from 1879 which was later abandoned in 1933.

Investment

Gold is usually bought in the form of Coins & Bars so it serves the purpose of an investment, people usually park their funds because Gold is one of the safest commodities out there. The main reason Gold is preferred over other assets is the fact that it acts as a hedge against economic swings including turns in stock markets and inflation. Although, people are diversifying their portfolio by investing in DigiGold also known as  Digital Gold which will help users buy Gold using their smartphones.

Jewellery

The Indian market is flooded with jewellery, that explains where the majority of the imported Gold has been put to use. jewellery is worn by men,women & children in various forms. Jewelry may be a decent investment but the primary goal isn’t investment, it is the usage.

Collateral for a loan

Out of many practical uses of Gold this is one of the most important, why? Indian Farmers heavily relied on their crops but when the yield is negative they tend to look for Gold for loans and due to easy liquidity, the same trend is followed by the citizens of this country, money constraints are covered because of Gold since mostly every household has a piece of it.

Dentistry

Gold is widely used in dentistry due to its unique properties such as: it is a malleable material, does not tarnish, and is hard enough. Let that be crowns or fillings, it has been used for many purposes in the health sector.

Medicine

It might amaze you that Gold is also being widely used as research in the health sector. Gold nano particles is gaining popularity in this sector. The Indian and Japanese consume gold as part of their diet intake because it is said to carry a lot of benefits. 

Electronics

As mentioned in the dentist topic the unique properties of Gold is the reason it is also being used in electronics, apart from malleability Gold is a metal which provides great conductivity. Being a metal which provides good conductivity, malleability , and is non corrosive is the reason why it is widely used in Mobile phones, laptops and many more devices.

Aerospace

Apart from day to day uses of Gold on planet earth, Gold plays a vital role in the aerospace industry. A layer is usually applied to the astronauts gear, usually their helmet and suit which effectively works in protecting them from radiation and reflecting infrared light to let visible light through.

Food 

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A new trend has been among us from the last few years that is Gold being used in fast foods like Pizzas and mainly deserts , apart from decorative touch it does not add any value to the food, mostly to boost symbol of wealth and an eye appealing texture. 

Wealth & Status

Gold is a hedge against uncertainties and investors who solely buy Gold for returns don’t focus on the symbol of it but Gold certainly is a symbol of wealth, but due to technology now Gold can be purchased in various denominations, whether your budget is high or low, Gold can be purchased by anyone and especially through us at CoinBazaar.in