Being Curious About Precious Metals: History of Gold
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Being Curious About Precious Metals: History of Gold
Global InterGold

 

In order to run a business with gold, you should know everything about this product from A to Z! 

Greetings from antiquity

Gold has been well-known to people for several millennia: it was first mined in Mesopotamia and Ancient Egypt. This metal was believed to be the result of a unique fusion of water and the sun. Gold was the reason for the seizure of new territories, gave rise to military campaigns, and inspired the feats and epics.

Interest in gold in such regions as South and North America had a significant impact on their development. So, the flow of gold prospectors that engulfed Brazil in the XVIII century significantly changed the course of continent reclamation; the Gold Rush in California has been thrilling minds from the 1850s until nowadays. Maya and Aztec gold is even more legendary being full of mysteries and secrets about countless treasures, lost cities and conquistadors.

Leap into the present

Nowadays, about 2,500 tons of gold are produced in a year. Among the leaders in gold mining there are South Africa, China, Australia, Peru, USA, Russia, and Canada.

This precious metal is widely used in electronics for coating contacts and chips, metal soldering, protecting cards from corrosion. It is equally popular in the field of medicine, especially dentistry where gold is the basis of pharmacological drugs and medical equipment.

A huge share of the total gold output is used in the jewelry industry. For the manufacture of jewelry, alloys with other metals are commonly used: zinc, silver, nickel, cobalt and others. India is the world's main consumer of gold jewelry, followed by the US and China.

Gold as investment and source of income

Due to this metal’s rarity, complexity of extraction, physical and aesthetic qualities, the price of gold is constantly growing. Both investors and entire countries know it well and build up gold reserves to protect their finances and treasuries.

After the abolition of the Gold Standard in 1971, money turned into pieces of paper that were not backed by anything. Trusting your financial security to currencies, even the most stable ones, has become dangerous. Therefore, more and more people are choosing physical gold as a safe asset for portfolio diversification and the basis for earning.

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Published: 18.09.2017
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