This metal has been a valuable and highly sought-after precious metal for coinage, jewelry, and other arts since long before the beginning of recordedШУУД ҮЗЭХ and
This metal has been a valuable and highly sought-after precious metal for coinage, jewelry, and other arts since long before the beginning of recorded history. In the past, a gold standard was often implemented as a monetary policy within and between nations, but gold coins ceased to be minted as a circulating currency in the 1930s, and the world gold standard (see article for details) was finally abandoned for a fiat currency system after 1976. The historical value of gold was rooted in its medium rarity, easy handling and minting, easy smelting, non-corrodability, distinct color, and non-reactivity to other elements. A total of 174,100 tonnes of gold have been mined in human history, according to GFMS as of 2012.[4] This is roughly equivalent to 5.6 billion troy ounces or, in terms of volume, about 9020 m3, or a cube 21 m on a side. The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry. Gold’s high malleability, ductility, resistance to corrosion and most other chemical reactions, and conductivity of electricity have led to its continued use in corrosion resistant electrical connectors in all types of computerized devices (its chief industrial use). Gold is also used in infrared shielding, colored-glass production, and gold leafing. Certain gold salts are still used as anti-inflammatories in medicine.
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