4 Interesting Facts about Gold
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You must know how valuable gold is as a metal. Thanks to all idioms and currencies that have hailed this metal as such, gold is considered a profitable asset today.
However, there are some interesting facts that investors often don’t know about gold. Here are some of them.
Measure of Fineness
Gold, in its purest, elemental form, is 24 karats. On the contrary, 18 karat gold has 75% pure gold and 14 karat has 58.5% of pure metal. These differentials are based on the industrial uses of gold.
For instance, industries where the product needs to be more robust, a greater quantity of alloys are mixed with pure gold. This goes for jewelry and apparatus.
Metals that are often mixed with gold include copper, palladium, platinum, iron, nickel and zinc. So, when you’re investing in precious metals, make sure to check the measure of the fineness of the bars or coins.
Gold as A Noble Metal
Even though gold is often hailed as economically inert—since it provides a hedge against inflation—a large part of its value is based on the fact that it’s a noble metal. This means that it’s not reactive and doesn’t deplete or degrade with time due to elements of nature.
This is why it remains unaffected by acidic conditions, air and even moisture. Even though most metals get dissolved in acidic mixtures like aqua regia, gold remains intact. This is another reason why it serves as an excellent store of wealth in vaults or IRA accounts.
Sizing and Shaping of Gold
Pure gold is the most malleable metal. A single ounce of metal can be hammered into fine sheets that stretch up to 300 square feet. In fact, the thinnest sheet of gold can even become transparent because of the fineness of its breadth.
So, you can’t asses the value of gold by its shape or size. The only way to determine that is through its weight or measure of fineness.
Gold For Investment and Currency
If you check historical accounts, gold has remained a symbol of financial value since the earliest of times. What was once used as barter for consumable commodities is now heavily demanded as an asset for investment. This is owed to the monetary, as well as the symbolic value of gold.
Because it’s hailed as a precious metal, the name markets itself as a viable store of wealth. However, that’s not to say that it doesn’t offer financial gains.
Gold investment is known to boost the financial security of your savings. They can be put toward your IRA accounts and saved as a hedge against future uncertainties. It also diversifies your portfolio and controls volatility.