Gold has been valued for its beauty and rarity for thousands of years, but it also holds a significant place in today's economy. Despite the rise of digital currencies and other assets, gold remains relevant and essential in a variety of surprising ways. Here are 10 of the most surprising ways that gold continues to be a vital part of our economy today.
- Investment: In times of economic uncertainty, investors turn to gold as a safe haven due to its ability to hold its value better than other assets.
- Jewelry: Gold jewelry remains a symbol of luxury and status, despite the rise of other materials.
- Electronics: Gold's excellent conductivity and resistance to corrosion make it ideal for use in electronic circuits and components, including smartphones, tablets, and computers.
- Medicine: Gold has been used in medicine for centuries, particularly in the treatment of arthritis and some cancers.
- Dentistry: Its durability and resistance to corrosion make gold an ideal material for use in dental fillings and crowns.
- Currency: Some countries still hold significant gold reserves as a way to back their currency, such as the United States, which holds the largest gold reserves in the world.
- Space exploration: Gold is used in many spacecraft components, including electrical contacts and thermal management systems, due to its resistance to corrosion and excellent conductivity.
- Art: Gold leaf has been used in art for thousands of years, and remains a popular choice today for its reflective properties and durability.
- Aerospace: Gold's excellent conductivity and resistance to corrosion make it ideal for use in aerospace applications, including satellites, aircraft, and missiles.
- Central banks: Many central banks hold significant gold reserves to stabilize their economies and currencies, providing a buffer in times of economic uncertainty.
In conclusion, gold remains a valuable and essential commodity in today's economy, with surprising uses ranging from space exploration to medicine. Despite the rise of other assets, gold's unique properties continue to make it a vital part of our daily lives. As we look to the future, it is likely that gold will continue to be a sought-after and relevant commodity for years to come.
Author: Pooyan Ghamari, Economist Visionary and Specialist in Gold and Banking