Are there any practical uses for gold

Uses and areas of application of gold

Processing of gold into jewelry

Gold as jewelry is the most popular use.

Due to its special physical properties, its rarity and its special color and luster, gold is one of the most valuable precious metals in the world. Around 2500 tons are extracted worldwide every year. Over 80% of the gold extracted is used for the manufacture of jewelry. This makes the jewelry industry by far the largest processing sector for gold. Around 2000 tons annually are processed into watches, chains, rings, bracelets or other pieces of jewelry.

Use of gold for the electronics industry and technology

Gold in use in cell phones

Around 10% of the gold extracted is still used in the production of electronic goods and technical devices. A high level of corrosion resistance, good conductivity and easy processing make gold a very valuable material here, especially when it comes to ensuring the long-term functionality of individual electronic components that is highly resistant to environmental influences. Gold therefore also plays a particularly important role in satellite construction. Gold is used every day, especially in IT and entertainment electronics or in general in the production of high-quality plug-in connections, relays, printed circuit boards or bonding wires on circuit boards and micro-chips.

Gold as an investment and means of payment

Gold coins like the Kruggerrand are a popular investment

Only 3% of the gold volume mined annually is processed into gold bars and gold coins. In this form, it then serves as a means of payment or as an investment. As early as the 6th century BC In BC gold was used as a means of payment in the form of coins. However, gold is rarely used as a direct means of payment these days. On the other hand, bullion gold is of extremely high importance nowadays in relation to international financial policy. Every state bank in the world hoards a certain amount of gold bars in its vaults as gold reserves, which are converted into foreign currency in the event of a currency crisis so that state liquidity is still guaranteed. Germany currently has almost 3,400 tons of gold reserves with a value of around 140 billion euros. In general, gold is very popular as investment capital, especially in times of financial crisis. In contrast to currencies, gold is considered to be relatively stable in value and thus ensures that its owners retain the value of their own savings. However, the price of gold is also often exposed to high price fluctuations on the stock exchange and thus still carries certain risks as an investment.

Use of gold in medicine

Gold dentures

Due to its high resistance to corrosion and its high material resistance to water and acids, gold is especially ideal for use in medicine. Here, gold is mainly used in dentistry, especially as a filling and replacement material for teeth. Gold is also used in rheumatoid therapy in the form of gold salts to treat rheumatoid arthritis as part of basic therapy. However, the healing method using gold salts also involves certain risks. Improper medication can damage the liver, blood and kidneys.

Gold as an additive in food

What one would not suspect at first glance is that gold is also used as a food additive, albeit only in small quantities and mainly as an ornament for food and drinks. As wafer-thin gold leaf or gold leaf flakes, it is often used to gild dishes, fine baked goods and chocolates or as an additive in drinks. Gold in metallic form is not poisonous, does not deposit in the body and is usually completely excreted through digestion.