Gold

VIPUL BHANDARI (CA FINAL STUDENT) (243 Points)

06 December 2009

Why the Gold is so precious, then other metal. Why the World run behind the GOLD!

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4 Replies

MOHIT MAHAJAN (LCS, ACA) (2050 Points)
Replied 06 December 2009

I remember, in class Xth, our science teacher gave us a detailed note on properties of Gold and its usefulness and its reason for being expensive.

What i remember a bit of scientific information from it about Gold which make it expensive is (although i dont remember the exact scientific terms) -

- Gold is referred to as a "noble" metal because it does not oxidize under normal conditions.

- Its less harmfull for human body as compared to other metals, hence Its used in medical field (specially by dentists)

- Gold is a chemical element so it can only be found, not manufactured.

- It is easy to store cheaply for long periods

- It is also known for its rarity, density, softness, and its very good electrical conductivity

-It is extremely rare, and its extraction cost is very high.

- Because of its rarity gold signifies scarceness, which is what occasionally makes it useful as money

- Gold is difficult to counterfeit. Any one accustomed to handle gold money can detect a spurious gold coin at a single glance.

- It can be easily deformed and is easily divisible.

- Its least harmful for our environment as its not easily decayable and dont easily react with other metals/acids etc.

- Traditionally/Historically also gold was given immense importance as compared to other metals.

Regarding you second question why world runs behind gold, I think a girl can give you a better answer!!!

2 Like

Dheeraj Sondhiya (CA- IPCC) (184 Points)
Replied 07 December 2009

very good information but the last point is good that a women can give better regarding gold.

Nikhil Kumar (CA , Qualified CPA) (910 Points)
Replied 07 December 2009

Originally posted by :MOHIT MAHAJAN
"	I remember, in class Xth, our science teacher gave us a detailed note on properties of Gold and its usefulness and its reason for being expensive. What i remember a bit of scientific information from it about Gold which make it expensive is (although i dont remember the exact scientific terms) - - Gold is referred to as a "noble" metal because it does not oxidize under normal conditions. - Its less harmfull for human body as compared to other metals, hence Its used in medical field (specially by dentists) - Gold is a chemical element so it can only be found, not manufactured. - It is easy to store cheaply for long periods - It is also known for its rarity, density, softness, and its very good electrical conductivity -It is extremely rare, and its extraction cost is very high. - Because of its rarity gold signifies scarceness, which is what occasionally makes it useful as money - Gold is difficult to counterfeit. Any one accustomed to handle gold money can detect a spurious gold coin at a single glance. - It can be easily deformed and is easily divisible. - Its least harmful for our environment as its not easily decayable and dont easily react with other metals/acids etc. - Traditionally/Historically also gold was given immense importance as compared to other metals. Regarding you second question why world runs behind gold, I think a girl can give you a better answer!!!	"