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Thursday, September 29, 2011

Gold Usage

Years ago, gold was an important currency metal but lost this function in 1978 when our dollar was no longer backed by it.

Supposedly, two thirds of our gold reserves are held in national depositories as monetary reserves. I say supposedly because nobody can verify it.

Compared to other metals like platinum, gold plays only a minor role in technology because cheaper substitutes have been created.

In the dental field, gold is still significant and used as dental gold. As for the electronics industry, gold is used in the manufacture of optics for high-end mirrors, solar glasses, contact points for switches and reflectors for satellites.

In space travel, the galvanized application of gold to objects for protection against corrosion is still significant. Sheets of gold with a thickness of 0.1 micrometers are also used to decorate objects in the restoration of art.

One gold coloring process, called ‘Purple of Cassius', has occasionally been used on glass and porcelain. These objects take on a strong ruby red color, which is the result of the presence of colloidal gold.

So, as you can see, there are still many uses for gold, even though I would hazard a guess that many are using it as a hedge against inflation and as a substitute for the fiat dollar which is only backed by a promise!

What do you think...????

1 comment:

  1. Gold has a lot of usage and it has higher value these days. It's a great investment.

    cash for gold