All about Gold: The precious metal that’s most precious

Uncategorized / February 21, 2016

Offering a range of high quality precious metals, ICH offers competitive pricing and a range of solutions for the buying, selling and storing of gold, silver, palladium and other precious metals. If you’re going to deal in precious metals, you might as well stick with the leading physical commodities trading house there is.

How’s it doing?
Gold is having a bit of a financial identity crisis right now. In this month alone, gold has peaked at $1,112 per ounce, before a sharp decline down to $1,080. It again jumped back up to $1,090, and all this inside of a couple of weeks.

Financial analysts attribute gold’s restless jitters to a recent new settlement in China, turmoil in the Middle East and the latest oil slump. This is making it difficult to forcast the gold price, as supply demand fundamentals  is uncertain.

What’s it good for anyway?
Ever since the 1500s, gold has seen a prominent use in dentistry. The very first book published on dentistry recommends cavities be filled with gold leaf, and this remains true today. Fillings, crowns and bridges are all in part made of gold. Gold is a bio-compatible metal, which means it can be fused with living tissue without being toxic or causing any injury.

You’ll also find gold in a lot of electronic devices like mobile phones, TVs and GPS units. Gold has the unique quality of being an efficient conductor of charges, and it also allows devices to remain free of corrosion.

Going back to the medical professions, patients with arthritis are actually administered regular gold injections for around 22 weeks. As an anti-rheumatic, gold can reduce swelling and pain in arthritis patients.

You won’t only find it on earth, either. Space vehicles often have parts covered with gold polyester film, and it isn’t just to show off, either. The gold film actually helps reflect infrared radiation, stabilising the aircraft’s temperature.

Where can I find it?
Compared to other elements, gold is quite rare and difficult to find.  It has been noted that if all the earth’s gold were melted down and formed into a cube, it would measure a mere 20 metres on each side.

Johannesburg, the capital of South Africa, is built over the world’s largest gold deposit. The second largest can be found in India, where you can find the second deepest underground gold mine.

 

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