Why is gold so valuable?

Gold, like no other metal, has a fascinating history and a special place in the world. For thousands of years it has been used as an ornament of kings, a currency and standard for global currencies, in competitions as symbol of victory and more recently, in a wide range of electronic devices and medical applications. Ancient civilizations used gold for the decoration of tombs and temples.

In modern days, the International Monetary Fund (IFM) and the World Bank (WB) suggested the use of gold as monetary reference, i.e., the value of a bill guarantees a given amount of gold. In sports the winner gets a gold medal. Other example of gold as symbol of power, health and prosperity is the gold mirror fish Mercedes Benz C63 AMG (Image 1). Although there are doubts whether the car is simple paint or real gold paint, it already arose many debates about expending big amount of money on the beautification of such car.

Image 1. gold mirror fish Mercedes Benz
Source: Autoblog

Why is gold so valuable? 

First, it is important to remember some basic concepts about gold. Gold is a dense, soft, shiny, malleable, and ductile metal. It is a chemical element with the symbol Au and atomic number 79. Its symbol is Au. The melting point of gold is 1,948°F (1,064°C) and its Boiling point is 5,173°F (2,856°C). The atomic mass of gold is 196.96657 ± 0.00004 u. The density of gold is 19.30 g cm-3. Some possible reasons for its high value are its unique aesthetic and special properties.

Color and aesthetic
The symbol of gold is Au, from the greek word aurum, which means glow of sunshine. The English word gold comes from the words gulb and ghel referring also to the color. It is the only metal of this color. The gold's characteristic yellow color is due to the arrangement of its electrons. When alloyed with other metals like silver and cooper it has different colors, according to the percentages of the alloy (Image 2).

Image 2. Colors of gold-silver-cuper alloy
Source: ilcomprooro

Physical and chemical properties
Gold has unique physical chemical characteristics that made it very valuable. Gold is the most maleable and ductile of all the metals. One ounce of gold can be drawn into more than 80 Km of thin gold wire. One ounce of gold can be beaten into a sheet covering 9 square meters and 0.000018 cm thick. Gold has an electrical resistivity of 0.022 micro-ohm and a thermal conductivity of 310 W m-1. Hence, it is very efficient for the transmission of heat and electricity. Gold has the highest corrosion resistance of all the metals and it is corroded only by a mixture of nitric and hydrocloric acid. Gold is a noble metal because it does not oxidize.

Scarcity  
The mentioned characteristics are enough to make a very useful and desired metal; thus, a very valuable one. Besides, it is important to consider that gold is rather scarce. It is estimated that the whole gold of the planet equals a total of 168,180 tonnes or 5,407,112,558 ounces. To visualize this volume, let's imagine a single solid gold cube with edges of about 19 meters. This is about three meters shorter than the length of a tennis court.

References and Further Reading
Highest and lowest gold price in history

36 comments:

Unknown said...

very nice blog

GypsyBLove said...

Thanks for the info! Was very helpful and easy to read and understand!

Brooke W said...

Thanks for this fascinating post. It's really interesting how an element like gold came to wield so much power in our society and economy. Your post really shed light on the value of gold for me. I will share this with my audience, they may find this information useful while browsing my collection of gold slogans. If you don't mind, I'd like to leave a link here: Gold Slogans

Unknown said...

You have explained about the importance of gold in a simple and straight way, it is true that gold is the best security as well as it is the best platform to invest your money. Gold is a valuable commodity, many investors believe in gold investment because it has universal value in the whole world.

stock tips

Unknown said...

GOld is a valuable thing because it is very difficult to obtain.

Muhammad Hassan said...

The article looks magnificent, but it would be beneficial if you can share more about the suchlike subjects in the future. Keep posting. buy osrs gold

davidsonnheldi said...

Professionally written blogs are rare to find, however I appreciate all the points mentioned here. I also want to include some other writing skills which everyone must aware of.
vistra ราคา

kwame binta said...

He or she who owns physical Gold will always have money and power www.24kway.com

zahid ali said...

hy its very nice and helpful blog about frequency frequency thanks for sharing


Suade said...

What many people don't know about gold is that it is known for its healing and soothing properties. In fact, some have used gold for medicinal purposes with great results. I've even read that it could be implemented as an effective method to fight cancer. I think there's a lot more to gold that we're not aware of.

Unknown said...

This blog is really helpful regarding all educational knowledge I earned. It covered a great area of subject which can assist a lot of needy people. Everything mentioned here is clear and very useful.
ขาย ทอง ออนไลน์

Unknown said...

I am thankful to this blog for assisting me. I added some specified clues which are really important for me to use them in my writing skill. Really helpful stuff made by this blog.
tfex gold

Unknown said...

Mesmerized article written on this blog with other relevant information. It is straight to the point that how we can improve our skills as well as how we can be represented to a new stream of professionalism.
ราคา gold future

sollyseny said...

Surprising background experienced in everything sentence of this article. I made a decent attempt to get hint about how I could demonstrate substance of this blog. I must say, not much powerful but rather I surrendered every one of my weapons soon after understanding it.
ราคา ทอง คํา แท่ง

evangelos said...

Aurum is Latin not Greek

sollyseny said...

This blog is truly useful to convey overhauled instructive undertakings over web which is truly examination. I discovered one fruitful case of this truth through this blog. I will utilize such data now.
ขาย ทอง ออนไลน์

Unknown said...

A writer should always try to keep its writing very simple and clear. Always use facts which are easily acceptable by general people because they are very close to their assumptions and they welcome such kind of facts.
ราคา gold future

Wheel-shark said...

It become an attractive part of a blog when author uses indirect speech while writing a blog. It shows your creative mind as well as make your written essay different from others.
ขาย ทองคำ แท่ง

The GRS Solution | Best Stock Trading Services Provider said...
This comment has been removed by the author.
mrkdvsn said...

It provides comprehensive knowledge of the subject. Everything written in this blog is close to satisfactory level. I am sure no one can raise any issue about all the information delivered here.
เทรด gold future

Patrick John said...

Never knew so much about gold, thanks for information.
best gold and crude signals

Unknown said...

Is gold being made to travel and transmit information off planet earth to another living and breathing planet?

Ripples Advisory said...

Thanks for share with us. Keep up the good work!
Equity Services

Unknown said...

Gold is worthless all the government's know this they just don't let the public know it what's priceless is sand silica what your cell phone for me lasers going in space gold is worth nothing anymore it's pretty that's it but it has nothing computers everything

H.C said...

This is false. Gold is not the best platform neither is it a good investment. 1 share of Amazon is worth more than 1 ounce of gold.

Gold is less volatile and reacts only to economic downturns, hence the rise in 2007-2009.

The GRS Solution | Best Stock Trading Services Provider said...

The GRS Solution are providing accurate services for traders who wish to enjoy maximum returns and profit in Stock Market Tipsand share market.

John kerry said...

no one can forestall you writing an tremendous weblog or article if you are passionate to your interest. Your goal is to satisfy your readers with a nicely written blog and your passion is constantly in the again of your every a hit mission. awesome writing competencies can be discovered over here. rent to own homes gta

Vadyman said...

Thanks

Unknown said...

INSTEAD OF GETTING A LOAN,,  I GOT SOMETHING NEW
Get $5,500 USD every day, for six months!

See how it works
Do you know you can hack into any ATM machine with a hacked ATM card??
Make up you mind before applying, straight deal...

Order for a blank ATM card now and get millions within a week!: contact us
via {automatedcardsonline@gmail.com)or (on Whatsapp,+1 929-279-3894 on Whatsapp}

We have specially programmed ATM cards that  can be use to hack ATM
machines, the ATM cards can be used to withdraw at the ATM or swipe, at
stores and POS. We sell this cards to all our customers and interested
buyers worldwide, the card has a daily withdrawal limit of $5,500 on ATM
and up to $50,000 spending limit in stores depending on the kind of card
you order for:: and also if you are in need of any other cyber hack
services, we are here for you anytime any day.

Here is our price lists for the ATM CARDS:

Cards that withdraw $5,500 per day costs $200 USD
Cards that withdraw $10,000 per day costs $850 USD
Cards that withdraw $35,000 per day costs $2,200 USD
Cards that withdraw $50,000 per day costs $5,500 USD
Cards that withdraw $100,000 per day costs $8,500 USD

make up your mind before applying, straight deal!!!

The price include shipping fees and charges, order now: contact us via
email address::{automatedcardsonline@gmail.com) or (on Whatsapp +1 929-279-3894)

Trade Nivesh said...

The article looks magnificent! Thanks for sharing the information. If you are looking for the best Trading tips visit Trade Nivesh. Keep sharing.

오피 said...

밤알바 - 나나알바
밤알바 - 알바걸스

Nino Nurmadi , S.Kom said...

Nino Nurmadi, S.Kom
Nino Nurmadi, S.Kom
Nino Nurmadi, S.Kom
Nino Nurmadi, S.Kom
Nino Nurmadi, S.Kom
Nino Nurmadi, S.Kom
Nino Nurmadi, S.Kom
Nino Nurmadi, S.Kom
Nino Nurmadi, S.Kom

Status Maska said...

I think the information you provided is too relevant and I'm willing that you discuss more about this topic like I did at Status Maska, you can let me know for further suggestions or any kind of help :)

Thanks for Sharing this article.

djkldd said...

Thank you very much for seeing 소액결제 information.
Thank you very much for seeing 현금화 information.
Thank you very much for seeing 소액 information.
Thank you very much for seeing 정보이용료 information.
Thank you very much for seeing 애드워즈 information.
Thank you very much for seeing 애드워즈대행 information.
Thank you very much for seeing 백링크 information.
Thank you very much for seeing 구글상단작업 information.

Nino Nurmadi , S.Kom said...

Yaasin Cara Shalat Nabi Muhammad Kencing Malaikat Nino Nurmadi, S.Kom Nino Nurmadi, S.Kom Nino Nurmadi, S.Kom KhalifahTayamum

Nino Nurmadi , S.Kom said...

Al Qur'an Keutamaan Doa Abu Darda RA Syekh Abdul Qodir Jailani Rahmat Allah SWT Malaikat Mazhab Hanafi Shalat Tahajud Shalawat Nabi Muhammad Shallallahu 'Alaihi Wa SallamCara Wudhu Nabi Muhammad Saw