For all its vaunted prowess as a precious metal with social and economic value, gold also has a bunch of medical applications. Some of these are invaluable. For instance, in medicine, gold is used to control the deadly scourge of arthritis. Gold is used to relieve pain caused by joint-swelling. Among some patients, gold helps relieve joint pain and stiffness, including bone damage.

In the medical sector, gold nanoparticles, as part of the photodynamic therapy, penetrate cancer cells and are heated with light to destroy tumors. Similarly, the precious metal has been used for centuries in dental care. The importance of gold beyond just a hedge against inflation cannot be overstated.