What makes gold a precious metal?

Ever wanted to know what makes gold such a precious metal? Get up-to-date information and reliable answers to your bullion and precious metals related questions here at ModernCoinMart's Complete Bullion Resource Center.

Gold is a precious metal because of its rarity, malleability, and luster. Gold is one of the rarest elements found in the Earth’s crust, and it is estimated that all the gold ever excavated would fit into a 22-meter cube! Gold is also highly malleable, meaning it can be hammered or rolled into thin sheets without breaking or cracking. This property makes gold ideal for use in jewelry and other decorative items. Finally, gold has a bright yellow color and high luster, making it attractive to many people.

Gold has been a currency for thousands of years due to its rarity and perceived value. In ancient times, gold was used to purchase goods and services from merchants and was often used as payment for taxes or debts. Today, gold is still seen as a valuable commodity and is often used as an investment vehicle by individuals looking to diversify their portfolios. Gold coins are still minted in many countries around the world as legal tender, although they are no longer widely circulated as currency in most places.

Gold’s value also comes from its wide range of uses in industry and technology. Gold is an excellent conductor of electricity and heat, making it ideal for use in electronics such as computers and cell phones. Gold is also non-corrosive, which makes it useful for coating components that need protection from corrosion or oxidation, such as aircraft engines or satellites.

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