Product Description

Gold is a chemical element with symbol Au (from Latin: aurum) and atomic number *9. In its purest form, it is a bright, slightly reddish yellow, dense, soft, malleable and ductile metal. Chemically, gold is a transition metal and a group *1 element. It is one of the least reactive chemical elements, and is solid under standard conditions. The metal therefore occurs often in free elemental (native) form, as nuggets or grains, in rocks, in veins and in alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum) and also naturally alloyed with copper and palladium. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides).

Gold is a precious metal used for coinage, jewelry, and other arts throughout recorded history. In the past, a gold standard was often implemented as a monetary policy within and between nations, but gold coins ceased to be minted as a circulating currency in the ***0s, and the world gold standard was abandoned for a fiat currency system after ***6. The historical value of gold was rooted in its relative rarity, easy handling and minting, easy smelting and fabrication, resistance to corrosion and other chemical reactions (nobility), and distinctive color.

A total of **3,**0 tonnes of gold is in existence above ground, as of ***4. This is equivalent to ***3 m3 of gold. The world consumption of new gold produced is about *0% in jewelry, *0% in investments, and *0% in industry. Golds high malleability, ductility, resistance to corrosion and most other chemical reactions, and conductivity of electricity have led to its continued use in corrosion resistant electrical connectors in all types of computerized devices (its chief industrial use). Gold is also used in infrared shielding, colored-glass production, gold leafing, and tooth restoration. Certain gold salts are still used as anti-inflammatories in medicine.

Gold is the most malleable of all metals; a single gram can be beaten into a sheet of 1 square meter, and an ounce into **0 square feet. Gold leaf can be beaten thin enough to become transparent. The transmitted light appears greenish blue, because gold strongly reflects yellow and red. Such semi-transparent sheets also strongly reflect infrared light, making them useful as infrared (radiant heat) shields in visors of heat-resistant suits, and in sun-visors for spacesuits. Gold is a good conductor of heat and electricity and reflects infrared radiation strongly. In addition, gold is very dense: it has a density of *9,**0 kg/m3. By comparison, the density of lead is *1,**0 kg/m3, and that of the densest element, osmium, is *2,**8 ± *5 kg/m3.

Because of the softness of pure (*4k) gold, it is usually alloyed with base metals for use in jewelry, altering its hardness and ductility, melting point, color and other properties. Alloys with lower karat rating, typically *2k, *8k, *4k or *0k, contain higher percentages of copper or other base metals or silver or palladium in the alloy. Copper is the most commonly used base metal, yielding a redder color.

By ***6 the gold jewelry industry was escalating despite a dip in gold prices. Demand in the first quarter of ***6 pushed turnover to $*3.7 billion according to a World Gold Council report.

Many holders of gold store it in form of bullion coins or bars as a hedge against inflation or other economic disruptions. However, economist Martin Feldstein does not believe gold serves as a hedge against inflation or currency depreciation.

Modern bullion coins for investment or collector purposes do not require good mechanical wear properties; they are typically fine gold at *4k, although the Congolese Gold Eagle and the British gold sovereign continue to be minted in *2k (0.*2) metal in historical tradition, and the South African Krugerrand, first released in ***7, is also *2k (0.*2).

Many holders of gold store it in form of bullion coins or bars as a hedge against inflation or other economic disruptions. However, economist Martin Feldstein does not believe gold serves as a hedge against inflation or currency depreciation.

Modern bullion coins for investment or collector purposes do not require good mechanical wear properties; they are typically fine gold at *4k, although the American Gold Eagle and the British gold sovereign continue to be minted in *2k (0.*2) metal in historical tradition, and the South African Krugerrand, first released in ***7, is also *2k (0.*2). The special issue Canadian Gold Maple Leaf coin contains the highest purity gold of any bullion coin, at *9.**9% or 0.****9, while the popular issue Canadian Gold Maple Leaf coin has a purity of *9.*9%.

Gold has been widely used throughout the world as money, for efficient indirect exchange (versus barter), and to store wealth in hoards. For exchange purposes, mints produce standardized gold bullion coins, bars and other units of fixed weight and purity.