Why gold is far more than just a metal that glitters

Gold’s allure is not just restricted to adornments. The precious metal has many applications, some of which have been covered briefly in the series of articles in the last three months. This piece will deepdive into the subject.

What makes gold a rather unique metal are its features: Gold is a good conductor of electricity. Moreover, it can be easily drawn into wires. It is malleable and hence can be hammered into thin sheets. Similarly, it can be melted and sculpted into any shape. Its lustur is an invaluable asset and it’s also tarnish resistant. Small wonder that gold’s applications range from Olympic medals to wedding rings.

More crucially, gold is a very good conductor of electricity and is free of corrosion. Why is this important? Most electronic devices use low voltages and currents and can be easily interrupted by corrosion or tarnish at the contact points. Given gold’s efficiency as a good conductor, it can carry tiny currents without any hassles and can remain free from corrosion. Hence, it is widely used in the manufacturing process of electronics. It is used in connectors, switch & relay contacts, soldered joints, connecting wires & connection strips, cell phones, calculators, PDA, GPS and TV.

Gold also features widely in the field of medicine. Surgeons can insert gold-plated medical devices inside the human body for diagnosis of various ailments without the fear of corrosion. Since the metal does not oxidise when exposed to open air, it does not rust.

Gold is used as a drug to treat a small number of medical conditions including rheumatoid arthritis. Among some patients, gold helps relieve joint pain and stiffness, including bone damage. Moreover, radioactive gold isotope is inserted into tissues as a source of radiation in the treatment of certain kinds of cancers.

Small amounts of gold are used in the treatment of a condition called lagophthalmos where patients are not able to close their eyes completely. Small amounts of gold are implanted in the upper eyelids of such patients. These “weights” pull the eye lids down on account of gravity, thereby enabling the eyelids to close completely.

The precious metal has also been used in dentistry from as early as 700 B.C. Etruscan "dentists" would use gold wire as a scaffolding to fashion replacement teeth into mouths of their patients. For decades gold alloys have been used as fillings in crowns, bridges, and orthodontic appliances. Since gold is chemically inert and non-allergic, it has a long lasting appeal and does not face any health hazard.

In outer space, too, gold has made an invaluable contribution: many parts of space vehicles are fitted with gold-coated polyester film which helps reflect infrared radiation and helps stabilise the temperature within the spacecraft.

Few metals command a premium and have such versatile applications like gold. It is hardly surprising that gold’s reputation has been burnished over centuries through its practical usage that has served mankind.

 Moneycontrol journalists were not involved in the creation of the article.