From a non-economist view, gold is one random element out of a total of 118 elements on the periodic table. Gold is non-consumable, meaning that we cannot consume gold like other commodities such as oil, natural gas, grains, and coffee. There aren’t many practical uses that can be achieved only by means of gold.
A few practical uses of gold are electrical conductor, dentistry & other medical purposes, radiation reflector, and temperature stabilizer in satellite. Many of these functions can also be carried out using silver or copper. According to the World Gold Council, only 10% of the total produced gold is used for these purposes.
Still, gold is the most valuable and desirable metal in the world. Gold is…
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