There is frequent debate about the valuation of any asset or asset class. Sometimes the debate is fierce, and few investment topics evoke as much passion and controversy as gold — especially among professional investors. Many believe that gold is useless as a commodity and are sceptical of its alleged monetary value. For those that have legitimate doubts about the value of gold, this paper is an attempt to address some of those doubts.
Modern refineries use chemical or electrolytic processes to separate pure gold from other substances. In the Miller Process, chlorine gas is bubbled into the molten gold. The impurities within the gold separate from it and form chlorides, which concentrate on the surface of the molten metal. It is then relatively easy to pour off the purified gold, which is about 99.5% pure.
Gold of even greater purity (99.99%) is created by more complex and expensive electrochemical Wohlwill Process. In this, an electric current is passed through an electrolyte solution of hydrochloric acid and gold chloride. Gold of 99.5% purity is used as the anode and 99.99% pure gold plates out onto the cathode.
Gold in the device: technical and medical applications
The uses of gold grows each year as a key element across many industry sectors. This is due to its outstanding characteristics which include an extremely high resistance to corrosion and an ability to conduct both heat and electric current. These factors make gold the single-most reliable and indispensable metal in the development of new technologies.
The unique properties of gold also make it useful in medicines and medical devices, pollution control, air bags, mobile telephones, laptop computers, space travel, and many other high-tech applications. Approximately 11% of the demand for gold comes from such technological applications.
Automotive
Gold is used by the automotive industry in catalytic convertors which convert potentially harmful emissions from engine exhausts into safer substances Nanoparticles of gold alloyed with other precious metals are effective in reducing harmful emissions from the engine exhaust Only...More
Electronics
Manufacturers in this sector use gold to create components for mobile phones computer systems and a variety of high - performance and safety - critical electronic systems Only silver and copper are better conductors of electricity but these do not...More
Medicine
It is said that Cleopatra slept in a pure gold face mask to enhance her beauty while in ancient Rome gold salves were used to treat a variety of skin problems Archaeologists have also recovered skulls with gold fillings from...More
Nanotechnology
Universities research institutes and private enterprises throughout the world are discovering new characteristics and applications for gold nanoparticles on an almost daily basis Researchers at Princeton University have utilised gold nanoparticles in laboratory tests to detect disease which could lead...More
Space
For decades gold has been a key component in space technology and exploration In addition to its use as a component in electronic systems on the ground and in spacecraft it is used to protect astronauts and equipment from heat...More
Engineering

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