Currency is a traditional use for gold mining.
Gold mining is the process of extracting gold from the earth. Gold is a naturally-occurring element that has value largely because of its scarcity. However, gold is also useful in a number of different applications, which only adds to its value and makes the process of mining gold more profitable. Does this Spark an idea?
Financial Applications
Gold remains a power international symbol of wealth. In the past, gold coins were standard, with a value based on their specific gold content, and later, gold served widely as the direct backing for paper money and non-gold coins. The U.S. is no longer on the gold standard, but the Treasury still maintains its legendary gold reserve at Fort Knox in Kentucky. Gold is a popular investment on the commodities market, its value often increasing dramatically during times of economic uncertainty.
Use as Jewelry
Another common use of gold is to produce jewelry. Gold jewelry has been around for thousands of years and has many different cultural, religious and aesthetic purposes. Gold wedding rings are a common example and gold is still the standard against which many other jewelry materials, like platinum and silver, are measured against.
Electronics Uses
Electronics manufacturers prize gold, which is malleable and easy to work with. It is also resistant to corrosion, extremely conductive and reflects infrared heat. According to Geology.com, gold is present in computer microprocessors to help digital information flow across the circuit board more efficiently. High-end audio and video equipment also uses gold-topped cables to ensure the most faithful transmission of sound and picture.
Medical Uses
Gold mining also supplies gold for the medical community. According to Geology.com, some doctors administer gold as a drug to treat arthritis. Radioactive gold isotopes are also used as a diagnostic tool or to treat certain types of cancer. As many dental patients know, gold is also commonly used for fillings and crowns.
Decorative Uses
Gold mining also provides the gold that ends up as a decorative element in artwork, architecture or other objects. Gold leaf is one way to apply gold as a decoration. This process involves the production of very thin sheets of gold, which can then be applied over a wooden or plaster surface such as at the top of an architectural column, on a picture frame or on the binding of a book.
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