Gold has long held the interest of investors looking for portfolio diversification, collectors on the hunt for rare pieces and fashionable people searching for accessories to complement their style.
But outside of its financial and retail applications, gold has important uses elsewhere.
The yellow metal has crucial roles to play in these segments even though they represent a relatively small portion of demand. Read on to learn about how gold is used in the electronics, aerospace and medical markets.
Gold is also a highly malleable material, and is excellent for use on a miniature scale where precision is paramount.
The metal is used in the construction of visors for extra-vehicular suits worn by astronauts, as well as in the canopies of military aircraft. Gold is used because it has the ability to reflect ultraviolet radiation, which is encountered at elevated levels higher in the atmosphere and in space. These coatings help protect pilots and astronauts.
The oldest use for gold in medicine is dentistry, where it was first used an estimated 5,000 years ago.
For the near future at least, gold’s primary functions will continue to be on the investment side and in jewelry manufacturing, but that doesn’t mean the metal’s industrial uses won’t continue to expand.
Of course, one factor that’s stymied gold’s industrial growth is its price, which has hit record levels in 2024.
In the meantime, gold’s position on Earth will remain secure.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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