Wednesday, 19 December 2012

Things That You Should Know About Gold

Since its first appearance, gold has captured mankind's fascination. Its lustre, which enables it to be seen even among other materials, is only of its own that attracts our eyes. With its lustre, even at its tiniest form it can still be distinguished. Also, it cannot be questioned that gold was the first element that has gained favour from man since the Stone Age which was proven by the anthropological excavations of burial sites in this Age. However, at first gold was not fashioned into weapons and useful tools because its rating on Moh's scale of hardness is 2.5- 3. Thus, in ancient times, gold did not have practical applications and was just considered a thing of rare, intrinsic beauty worthy to be admired and treasured alone. 
Ancient Egyptian Wearing Gold

The Gold History

Gold was first explored in Egypt around 2000 B.C. large quantities of gold deposit can be found in Nubia, between the Nile River and the Red Sea. The range of the exploration was over one hundred square miles. About one thousand tons of gold were extracted by the first miners using the most primitive of tools and toiling to a depth of about six feet. By then, man discovered numerous applications for gold. Egyptian artisans started fashioning it into jewellery, ornaments and idols of awesome beauty. Throughout history, aside from being highly prized for its beauty, it is also highly prized for its lasting quality. No natural substance can destroy gold. Gold is so precious indeed that it is never affected by air, moisture, heat or cold. What is more is it never tarnishes, corrodes or rusts. Since time immemorial all gold deposits have survived geologic and climatic changes such as volcanic eruption, earthquakes, etc. Also, gold treasures in the form of jewellery, bullion and coins which were buried for so long beneath land and sea have been found undestroyed as they were.

Where Gold Is Mined

Gold is considered a rare element, with the exception of iron, yet it is the most widely distributed metal on the earth's crust. Not only that but also it ranks fifty eighth in abundance among the ninety-two natural elements present on earth. Gold is naturally found and usually mined in some areas in the mountain ranges, soil in the tropics, in the deserts and even in the frozen tundra of the Arctic. Actually it is mined on every part of the globe continentally except in Antarctica. The Yukon District of Alaska and the famous Mother Lode District in California in the USA, the Porcupine District in Ontario in Canada and Siberia in the former USSR are some of the places famous for gold of which the Witwatersrand District of South Africa is considered the  world's richest producing area which has produced 18 thousand tons of gold with limitless possibilities. Moreover, in the USA, thirty-two states are abundant in gold. These include Colorado, Alaska, Nevada, South Dakota, Georgia, Arkansas, Idaho, Utah, Montana, New Mexico, Wyoming, North and South Carolina, Tennessee, Michigan, Vermont and New Hampshire.

Gold's malleability makes it an extraordinary metal to craftsman. It can be formed into different shapes, can be drawn and stretched into an ultrathin wire without breaking, crumbling or disintegrating. It can also be easily carved, heated repeatedly without any discoloration and joined to itself or other metals by soldering without the use of a bonding flux.

Gold As A Symbol

Gold , without question, is a symbol of wealth, power and status. Take the example of Tutankhamen, the Egyptian boy king whose casket was elegantly cast from 242 pounds of solid gold. Ever since men and women have considered gold as a precious metal that they use to adorn their bodies with. In some marriage ceremonies, gold is still being exchanged based on the custom observed in some marriages until today. In Medieval Europe, the affluent sprinkled gold in the form of dust, flake or leaves on their food to display their great wealth. Gold is still often present in food which has the E Number 175. Metallic gold is inert to all body chemistry, so even if it is used in food it still does not add any taste nor has any nutritional effects on the body.  Primitive man believed gold to possess some mysterious and magical powers. Sun-worshippers for example regarded gold as the tangible essence of their god -referred to as solid sunshine.

Today in Japan, a bathtub especially designed in the form of a phoenix crafted from 400 pound of pure gold is believed to have medicinal magic, thus believers immerse their bodies in it in the hope of getting cured after. Gold has always been associated with health based on the belief that something so rare and of beauty can exude an aura of healing. The healing properties of gold are acknowledged by esotericists and forms of alternative medicine. Gold's anti-inflammatory properties are useful in the treatment of arthritis and the like. One thing you should remember is, since elemental or metallic gold is inert to all body chemistry, only salts and radioisotopes of gold are used in pharmacology.

Gold as Security

Gold gives security when it comes to investment. It is considered a "storehouse of value" since it is the natural way for man to preserve capital and protect against financial erratic activity and monetary collapse. It is a protection against inflation and considered a safe investment. Gold has the ability to prevent government attempts at inflating the currency of their country and prevent those in political power from controlling the economy of other nations. Considered the ultimate monetary exchange, gold is the king of metals. No one else is responsible or liable for gold. Gold has its value in and of itself and its worth is not dependent on the economic stability of a country, political power or financial cartel.

The London Gold Market has a say in the current world price of gold since it trades gold bullion and coins with other financial world centers in Zurich, Hong Kong, Frankfurt and Paris. The price of gold is based on its purity. Raw gold that is sold as specimen or jewellery has higher prices. Some gold may be sold for as much as five times its value by weight such as a nugget with an extraordinary characteristic and form.

Now, you might ask if you can also sell your broken gold bracelet, necklace, etc. The answer is absolutely yes. First, you must know the karat count of your gold before you sell it. The higher the karat the higher is its price. Lastly, if you only have a few pieces of jewellery to sell, look for a local jeweller or an antique jeweller since with this, the jeweller will consider the artist's craftsmanship and give some credit to it paying you a much higher price than for just the weight of your gold.

1 comment:

  1. From the beginning of time, gold has been used as a means of wealth and status. It is unique in its properties. After the stone age, people were using gold in their artifacts and sculptures. From buildings to the ornaments, gold was being used everywhere. The excavations of egyptian pyramids reveals that the gold was being used extensively at that time. GOld can be sold in any form, whether it is broken jewelry or coins or bullions. all the forms are alike in gaining profits. Conclusively, gold has been used as a symbol of power as well as a security measure against all the economic ups and downs in the long long history of manking.