Gold has attracted investors for thousands of years, especially as investing continues to become more mainstream. Precious metals and other assets are more accessible than they have ever been, and with inflation continuing to hurt fiat currencies, many investors are putting their cash into gold.
But gold isn’t just a store of value that is meant to be collected. There is more to this precious metal than jewelry and storing enough of it to withstand inflation. You can find gold in everyday products and service; some industries rely on the precious metal to provide high-quality customer experiences.
While most gold investors focus on gold bars and jewelry, this guide will cover some of gold’s more practical uses in society.
Electronics
Smartphones, computers and tablets are some of the electronics that contain gold. The precious metal is a key component in the semiconductors that power up these devices and act as memory storage.
However, there isn’t enough of the previous metal in any of these devices to justify searching for it. A desktop computer, for example, only contains 0.007 ounces of gold — not enough to get a strong return on investment from your computer by finding the gold components within. But given large-scale production, computers do contain enough to boost gold’s demand.
Monitoring how the stocks of smartphone and laptop manufacturers, such as Apple and Microsoft, perform can help track demand for gold in the electronics industry. If these companies generate higher sales for their products, gold could gain some momentum.
Automobiles
Smartphones and laptops are far from the only products that contain gold: Chances are you can even find the precious metal in your car. Gold is in the engine control unit (ECU) of internal combustion engine vehicles. But you’ll find it in other areas as well.
Gold helps reflect the heat away from heat-sensitive parts of a vehicle. It also allows airbags and other safety mechanics to activate sooner if they are needed. Every second counts in an accident, and gold’s use in vehicles has saved lives due to quicker reaction times.
The U.S. automobile industry is currently valued at roughly $1.6 trillion and is projected to grow at a compound annual growth rate (CAGR) of around 3% annually through the early 2030s, according to recent industry forecasts. This figure does not include international vehicle markets, which could create additional demand for gold as global auto production expands.
Dentistry
Gold is a common resource for dental fillings and crowns, and it isn’t just because people like the way it looks. The precious metal is more durable than many other options. It is also a soft mineral, which makes it both pliable and easier on gums and oral tissues.
Brushing your teeth at least once per day can minimize the likelihood of needing a dental filling or a crown. However, many people end up needing this service as they get older. Gold fillings and crowns reduce the pain from the procedure and how you feel afterward.
Healthcare
Like other industries, healthcare has evolved over the years. A wide range of medical devices, such as pacemakers, blood pressure monitors and defibrillators, help practitioners diagnose patients, track their progress and determine the next steps. Gold is a staple in each of those devices.
Medical devices remain in heavy demand, and the industry continues to expand at a steady pace. It’s projected to grow to more than $1.2 trillion by 2035, with a near 5.9% CAGR over that period. That suggests more medical devices will be produced in the years ahead — good news for gold investors, as the precious metal is widely used in components tied to those applications.
Aerospace
Gold is a vital component in every aircraft. The precious metal is in rocket engines, electrical connectors and other parts of the plane. Gold also acts as an insulator, helping to maintain ideal temperatures within the airplane as it ascends into colder layers of the atmosphere.
Aerospace applications for gold aren’t limited to airplanes. Gold is more durable than most precious metals, which helps it endure various environmental conditions. Because of this, the metal is used in satellites to shield them from radiation, temperature fluctuations and other outside forces.
The aerospace market is currently valued at roughly $790 billion. It’s projected to maintain a CAGR of about 6% to 7% through the early 2030s, pushing the market well past the $1 trillion mark within the next decade.
How is gold primarily used?
Gold is mostly used in luxury products and as a unit of value. More than 90% of gold is used in jewelry, stored in central banks or held by investors. The remaining gold supply is allocated across various industries, like those discussed in this guide.
Even though gold is mostly used for jewelry and investments, its impact on multiple industries cannot be ignored. Most companies need gold — but not large sums of it — to provide products and services. For instance, most satellites only contain around one to three ounces of gold.
Companies have become increasingly efficient with how much gold they need to achieve their desired results, but even so, the precious metal remains in high demand throughout a number of industries.
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Beginner’s Guide to Investing in Precious Metals
Gold has attracted investors for thousands of years, especially as investing continues to become more mainstream. Precious metals and other assets are more accessible than they have ever been, and with inflation continuing to hurt fiat currencies, many investors are putting their cash into gold.
But gold isn’t just a store of value that is meant to be collected. There is more to this precious metal than jewelry and storing enough of it to withstand inflation. You can find gold in everyday products and service; some industries rely on the precious metal to provide high-quality customer experiences.
While most gold investors focus on gold bars and jewelry, this guide will cover some of gold’s more practical uses in society.
Electronics
Smartphones, computers and tablets are some of the electronics that contain gold. The precious metal is a key component in the semiconductors that power up these devices and act as memory storage.
However, there isn’t enough of the previous metal in any of these devices to justify searching for it. A desktop computer, for example, only contains 0.007 ounces of gold — not enough to get a strong return on investment from your computer by finding the gold components within. But given large-scale production, computers do contain enough to boost gold’s demand.
Monitoring how the stocks of smartphone and laptop manufacturers, such as Apple and Microsoft, perform can help track demand for gold in the electronics industry. If these companies generate higher sales for their products, gold could gain some momentum.
Automobiles
Smartphones and laptops are far from the only products that contain gold: Chances are you can even find the precious metal in your car. Gold is in the engine control unit (ECU) of internal combustion engine vehicles. But you’ll find it in other areas as well.
Gold helps reflect the heat away from heat-sensitive parts of a vehicle. It also allows airbags and other safety mechanics to activate sooner if they are needed. Every second counts in an accident, and gold’s use in vehicles has saved lives due to quicker reaction times.
The U.S. automobile industry is currently valued at roughly $1.6 trillion and is projected to grow at a compound annual growth rate (CAGR) of around 3% annually through the early 2030s, according to recent industry forecasts. This figure does not include international vehicle markets, which could create additional demand for gold as global auto production expands.
Dentistry
Gold is a common resource for dental fillings and crowns, and it isn’t just because people like the way it looks. The precious metal is more durable than many other options. It is also a soft mineral, which makes it both pliable and easier on gums and oral tissues.
Brushing your teeth at least once per day can minimize the likelihood of needing a dental filling or a crown. However, many people end up needing this service as they get older. Gold fillings and crowns reduce the pain from the proc
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