Gold is a precious metal. Gold was used by almost all the major civilizations in the world. For most culture, both past and present, it has been of a great economic importance. Gold has historically been the only universally accepted medium of exchange.
What makes gold so valuable?
The most important is its rarity, although other characteristics make it valuable, too. For example pure gold is very soft. It is easy to use in making jewellery, unless it is combined with other metals like silver or copper; it measures about 2.5 to 3 Mohrs’ scale of hardness. Gold is an excellent conductor of electricity that is why it is so sought after by the electronic industry.
Density of gold is 19.32 grams per cubic centimetre at 20 °C which is about 19 times the weight of the same amount of water. It is easier to carry & handle. In fact, anybody could put their entire family’s wealth in a small bag and carry away (in times of crisis, disaster or migration). Gold is the most malleable and ductile of the metals. Gold can be easily pounded into thin sheets (one ounce can cover an area of about 160 square feet), or drawn into a wire more than 37 miles (60 kilometres) long without breaking. This is why gold leaf church domes and other coverings were once so popular; they allow structures to look lavishly rich while only using a thin coating of gold.
Gold is also almost completely insoluble in nature; in other words, very few liquids will affect it in its natural form. Even oxygen and water do not corrode or rust this metal. (Only a mixture of hydrochloric and nitric acids (aqua regia), and some cyanide solutions will dissolve gold.) Therefore, gold is one of the most inert and stable elements known to humanity and doesn’t corrode. Thus, generations could hand over their gold to their next ones.
How is gold found in nature?
Gold is discovered in several ways. It is often found in quartz veins or lodes, but is so finely disseminated in the rock that it is often not visible. Probably the most dramatic type of gold discovery comes when one uncovers a gold nugget, although less than two percent of the world’s gold comes in nugget form. Gold is also found as dust, grains, or flakes. A popular way the public collects gold short of buying it from gold dealers-is to pan for gold dust, grains, or flakes found in alluvial placer deposits (small pieces of gold that are eroded from rocks in higher regions and work their way into rivers). Finally, gold can be found in large amounts in seawater. But because it is so difficult to extract, recovering it in this manner is more expensive than it’s worth. Cold also occurs in compounds, notably telluride minerals. But again, the extraction cost is prohibitive.
