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10 exciting facts about gold that you probably didn't know

Published by Karl Martin Karus in category Precious metals on 31.08.2021
Gold price (XAU-SEK)
18 257,75 SEK/oz
  
+ 0,27 SEK
Silver price (XAG-SEK)
215,50 SEK/oz
  
- 0,44 SEK

Bright dawn

The symbol of the chemical element of gold is Au, an acronym of the Latin word aurum –which means “bright dawn” or “glow of sunrise.

Gold is indestructible

The unique characteristics of gold explain why it is frequently utilized in the jewelry, electronics, and medical industries: it is, in practice, impossible to destroy.

Gold has a melting temperature of 1064°F, can not oxidize, mold, or corrode, and can be recycled indefinitely. That means that the gold ring you wear every day might have once belonged to someone else who lived in a different century and a different shape.

Investment gold is VAT exempt

Gold is the most popular precious metal for investment. There are many reasons for this, but the most important thing to know is that it is first and foremost a very safe and foolproof way to preserve the value of your money.

By the way, investment gold is VAT-free in the European Union, which gives it another clear and concrete advantage over other asset classes.

Olympic medals are not made of gold

If you thought that victory medals of pure gold would be hung around the neck of athletes at the XXXII Olympic Games, then you were wrong: the gold medal contains only about 6 grams of gold – the lion’s share, or about 92%, is made of silver.

The last time an Olympic winner won a pure gold medal took place more than 100 years ago, at the 1912 Olympic Games in Stockholm.

There is also gold in the ocean

Gold is mined mainly in gold mines around the world. But did you know that the oceans of our planet also contain about 20 million tons of gold?

According to one study, one gram of gold is in the Atlantic for every 100 million tonnes. However, it is still wiser to extract gold from the ground than to pump it out of the water.

Our body contains gold

Yes, in addition to the earth’s crust, space and oceans, gold can also be found in our bodies. A person weighing about 70 kilograms contains about 0.2 milligrams of gold, mainly in the hair and the bloodstream, for example. So it’s not wrong to call your loved one a piece of gold – there’s some truth in that!

The “golden mean.”

Have you ever wondered where the phrase “golden mean?” Namely, this saying comes from the mouth of the ancient Greek philosopher Aristotle, who used the comparison with gold to speak of balance. It is no wonder, then, that investing in gold is considered a safe and secure asset class.

7% of annual gold production goes to the electronics industry

About 7% of the mined gold is used to make electronic equipment because gold conducts both heat and electricity very well. Today, there is so much gold in electronic equipment that it is possible to extract more gold from one tonne of electronic equipment than from ore extracted from the earth’s crust. This technology is already being used gradually to recycle gold used in electronic equipment.

China mines the most gold

Although South Africa has historically been the world’s largest gold producer, China has risen to the top in recent years. As the demand for this precious metal in the country only grows, so does the Chinese gold market. The Chinese believe that gold brings good luck and shows that a person has made prudent financial decisions.

Fear of gold or aurophobia

People are often afraid of darkness, heights, insects, and reptiles, but you probably didn’t know that some people also panic about gold.

The main symptom of aurophobia is panic attacks, but breathing too fast or too slow, nausea, and irregular heartbeat often occur. As with many other phobias, psychological counseling against aurophobia and dealing with the memory that caused the phobia can help. So gold may not shine in everyone’s eyes at all.

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