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Monday, September 24th, 2012

What Is Gold?

As the price of gold continues to drive higher with each passing year (each passing day would be a truer statement!), people find themselves wanting more and more of it. Anything that contains gold is much coveted. People want gold coins, gold bullion, and most of all, gold jewelry. If you notice, the price of gold can really be seen when it comes to jewelry. Some women wear enough gold on their bodies to be in danger of gold thieves! With so many people having a love affair with gold, you would think they would at least be curious about what gold is. Sure we know it is a precious metal that is truly beautiful, but aside from that and the price of gold, what do we really know about it?

Real gold is both a mineral and an element. There are not many places you can go in nature and not find at least a trace of this precious metal, but do not think you are striking it rich by finding a trace! The price of gold deals with much more than that! Throughout history, especially during the California Gold Rush, there were many places that contained deposits of gold that were quite large. However, nowadays only a few such places still exist. Gold that is native contains twenty minerals that are all different. Because of this you could actually say that twenty different types of gold are in existence. Gold is created in veins that are hydrothermal and the buildup in these areas makes for a good gold strike. When there a good strike is made, the price of gold may go down some. However, when a gold vein begins to run dry, the price of gold will once again soar. That is how it has always been in history.

It is usually easy to tell gold from any other precious metal. First of all, gold is its color! This metal is a golden yellow which makes it distinguishable from all other precious metals. It may be streaked with brighter colors of gold here and there as well. It has a luster that is metallic in nature and its diaphaneity is opaque. It is also very hard compared to other precious metals. Be mindful though that there is one type of mineral that people were, and still are, often fooled by. Its name is iron pyrite; also known as fool’s gold. Many gold hunters were tricked by this deceiving stone. They thought they hit it rich just to lug that “gold” into the bank and find out that they had been tricked by nature (or some joker who laid out the fool’s gold in hopes of tricking someone else).

Today most of the gold we have is used for jewelry, electronics, medicine, and gilding. Nearly 10% of it is kept by the government. The price of gold keeps on rising steady but the ways for it to be used is also rising. So, if you are up for it you can now go on a gold hunt since you know exactly what gold is! Good luck and have fun!