20 Facts about gold

Gold has been a part of human history for centuries. From jewellery to coins, Egyptians to the modern day - Gold has been a highly sought precious metal. Below you'll find 20 interesting facts about Gold that you might not have known.

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..... Gold - Element
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1. Gold is a 'noble' metal, meaning that it does not rust or lose its shine. Other noble metals include Ruthenium, Rhodium, Palladium, Silver, Osmium, Iridium, Platinum, Mercury, Rhenium and Copper.
   
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2. Gold is the only yellow metal. All other metals darken or turn a yellowish colour after they have oxidised or reacted with other chemicals.
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3. Gold is the heaviest and densest of all metals in the Periodic Chart; a cubic foot would weigh more than half a ton.
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4. Pure gold will melt at 1064.43° and boils at 2856.1°. Even at normal temperatures gold is extremely soft. One gram of gold can be flattened down to a square meter sheet, which is so thin that light passes through, and because of this it has been used as a protective film on visors in space suits.
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5. Odourless and tasteless, gold is not toxic - and flakes may be eaten in foods or drinks.
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   Gold - Natural Resource
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6. Gold is far rarer than diamonds but is only the 58th rarest earth element.
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7. It is estimated about 160,000 tons of gold have been mined throughout history.
   
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8. Gold has been discovered on every continent on Earth.
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9. In 2018, China was the world leader in gold mining production. Second was Australia, Russia third, US fourth and Canada fifth.
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10. The largest gold nugget is 'Welcome Stranger' mined in Australia in 1869, weighing in at a colossal 173 pounds (that is nearly 78.5 kilos).
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11. China is the world's largest consumer of gold, based on figures from 2018. India is a close second.
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    Gold - Currency
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12. The first gold coins were produced in Lydia between 700 - 650 BC. They were made from electrum, which is a naturally occurring alloy of gold.
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13. The Swiss Franc was the last remaining country to peg its currency to a value in gold. It became a fiat currency in 1999.
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14. The Perth Mint in Western Australia cast the largest ever coin - weighing one tonne and measuring 80 centimetres (31.4 inches) in diameter.
    
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15. New York’s US Federal Reserve Bank is reported to hold 25% of the world's gold reserves.
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    Gold - Investment
    

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16. Gold is frequently used as a safe haven asset in times of economic turmoil or geopolitical uncertainty.
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17. Gold has a history of holding its value. It is an ideal way of preserving wealth from one generation to another.
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18. Gold has historically had a weak correlation to movements in the financial markets and is frequently used as a hedge against inflation.
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19. Gold's natural scarcity and high production cost is the ultimate reason why it holds value.
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20. When you invest in physical gold you own it outright. You are not reliant on banks or other financial institutions.