Many individuals are unaware of gold’s diverse applications beyond its traditional roles in jewelry and investment. Gold serves critical roles in various industries, including electronics, dentistry, medicine, and as a popular investment option for the future.
While gold is renowned as a precious metal used in jewelry and investments, its historical significance and versatility are lesser-known. In India, gold has symbolized wealth for centuries, often gracing weddings and religious ceremonies to signify status.
Gold’s association with spiritual beliefs also makes it a sought-after investment during economic downturns. Let’s delve into the industries where gold plays a major role.
Aerospace Industry
Gold plays a crucial role in the aerospace industry by protecting equipment from harmful radiation and extreme heat in space. Gold’s reflective properties are utilized in satellites, where gold foils assist with thermal control and shield onboard instruments from space’s intense temperatures. Astronauts’ visors are coated with a thin, transparent layer of gold to reduce glare and heat from sunlight, while gold coatings on spaceships and satellites effectively deflect heat. This innovative use of gold enhances protection for astronauts and spacecraft occupants in the challenging environment of space.
Electronic industry
Gold’s exceptional conductivity makes it a key component in electronics. Its unique properties include resistance to corrosion, thanks to the naturally occurring gold oxide layer on its surface, as well as its malleability, ductility, and softness. Gold’s ability to conduct electricity without resistance makes it ideal for various electrical applications, including electrical contacts and switches in computers, telephones, televisions, and cars. In telephone circuits, gold serves as a central conducting wire, ensuring reliable electrical performance.
Medical industry
Gold is employed in innovative medical applications, such as treating lagophthalmos by implanting small amounts in the eyelid to aid closure. Radioactive gold serves as a diagnostic tool, tracked within the body after injection into a colloidal solution. Its biocompatibility and conductivity also make gold a preferred material for medical devices, surgical instruments, and electronic equipment.
Utilized in Glassmaking
Gold serves multiple purposes in the glassmaking industry, including imparting a stunning ruby color to glass used in luxury decorative items like cranberry or ‘Ruby Gold’ glasses. However, its most critical application lies in creating specialty glasses for climate-controlled buildings. Gold-coated glass reflects solar radiation, keeping buildings cool in summer and reflecting internal heat to maintain warmth in winter, essential for regulating temperature and climate in these structures.
Automobile Industry
Gold has been integral to the automotive industry since its early days, particularly in the manufacturing of vehicles’ electrical components and wiring. Its resistance to corrosion makes it an ideal choice for use in exposed areas like engine compartments. Additionally, gold’s softness facilitates easy handling during manufacturing processes. As a result, gold will remain a key material in the automotive industry for years to come.
Conclusion
Apart from the gems and jewellery industry, gold finds significant utility in various major industries. As these industries continue to expand, the demand for gold is expected to grow in both the near and long term. Therefore, incorporating gold into your financial portfolio can be a wise choice. Digital Gold emerges as an attractive option for savings, offering safety, liquidity, and purity in its purest form.