Tuesday, May 31, 2011

Gold Production

Gold, the world’s most precious mineral, doesn’t just grow on trees. The mining and producing of gold is done all over the world, and the refining process finalizes gold for modern day use. South Africa has been since the 1880s a remarkably large source for gold output in the world with more than 50% of all the gold ever produced having origin in South African mines. To this day a large source of gold production comes from South Africa, with China overtaking them for the very first time as the number one gold producers worldwide. Countries like the U.S, Russia, and Australia are also major producers. The following map shows an example of gold production and which countries are currently leading producers:

(map from: http://www.bgs.ac.uk/home.html)

Not only is Gold one of the most sought after metals, it is also one of the most durable and stable. The gold that is found in jewelry, works of arts, and manufactured goods can still be (and is usually) recovered for immediate or future use. Because of this strong durability of gold, gold consumption barely creates a wasteful or un-useful by-product like many other sources, and instead simply changes form or ownership when no longer being used.

Monday, May 30, 2011

Historic Gold- Clasps from Tillya Tepe

Up next in historic gold is the Clasps from Tillya Tepe, dating back to 1 BC. The words

'Tillya Trepe" directly translates to "Golden Mound" or "Golden Hills" and are a reference to the famed archelogical site in modern day Afghanistan were the clasps were discovered.

The design of the clasps show that they were made for wear by a male, and a wealthy one at that. On the claps are two golden warriors, surrounded by a border of birds, beasts, and flowers.

The World Gold Council states:

"The influence of Greece (the tunic) and Persia or Assyria (the kilt-like skirt) seems apparent. Designed as a closure for a cloak, the pugilistic nature of the pieces might hint at bravery and

protection for the wearer."

This piece of historic gold is currently on display at the National Museum of Afghanistan.

Friday, May 27, 2011

Gold Cartage

The cartage of gold can be considered its most important and best selling aspect. Carats, sometimes spelled Karats, measure the purity of gold. Gold is one of the world’s most beautiful precious metals, and powerfully resistant to corrosion, but on its own pure gold is very soft and vulnerable. To make jewelry and other commonly consumed gold products, gold is combined with other materials to overcome its soft nature and make it durable enough for everyday use. This is when carats come in, the higher a carat rating on a piece of gold, the higher “percentage” of that piece is pure gold. Here’s a chart published by the World Gold Council detailing the percentages of gold carats:

24 carat gold is understood to be the most pure of all gold, consisting in 99% gold and only 1% other material. This is the minimum carat allowed for jewelry labeled as “pure gold”.

22 carats is considered to be 91.6% gold, and is quite popular in India where a large majority of the world’s gold is consumed.

14 carat can be seen in the US as a common selling gold carat, however anything lower than 10 carats is not allowed to be sold as gold.

source: http://www.gold.org/jewellery/about_gold_jewellery/caratage/

Thursday, May 26, 2011

Historic Gold- Mesopotamian Headdress

Gold is constantly in the eyes of consumers and investors in today’s world. Even more so now that countries like China and India are becoming overwhelmingly more involved in the consumption of gold. But gold has always been around, and its place in history has been valued since the dawn of ancient civilizations.

Image © Trustees of The British Museum

The Mesopotamia Headdress is a piece of historic gold from the Mesopotamia period which dates past 5000 BC. In Mesopotamian culture, the number eight was a symbol of the afterlife and the journey to it by the passing soul. This piece of historic jewelry would have been traditionally worn as a funerary Headdress.

The Mesopotamia Headdress can be seen with eight golden leaves that were hand hammered and beautifully crafted for the historic piece.

The era of the Headdress was also credited to introduce large scale economies. The Carnelias and Lapis Lazuli pictured in the Headdress would have to have been imported especially from another region, symbolizing the importance of trade. The need to import materials for the headdress also symbolized the importance of precious metals and materials.

The ancient piece can be found in The British museum.

Source: http://www.gold.org/jewellery/about_gold_jewellery/historic-pieces/mesopotamian_headdress/

Wednesday, May 25, 2011

Nokia Oro- The newest Gold Plated Smartphone

Just announced by Nokia is the world’s newest gold plated Smartphone, the Nokia Oro. The Oro is set to hit selective markets but can be expected in Russia, where gold plated technology sells well year after year.

The Oro is a Symbian OS 3g Smartphone with a 3.5 inch AMOLED screen, and an 8 megapixel camera on the back capable of 720p video recording. On the outside of the phone, you have a spectacular design merit of its 800 EUR (US$1125) price tag. The Nokia Oro is premium brand Smartphone plated in 18-gold karat, sapphire crystal and leather.

The Video below comes straight from Nokia, with a description on their new golden product:

Tuesday, May 24, 2011

Utah Becomes First State to Legalize Gold and Silver as Legal Tender

Utah has become the first state to officially legalize Gold and Silver as Legal Tender. The goal of the Utah legislator is to see the dollar (which has taken destructive economic damage) regain its former importance, and rise once again to an acceptable value in the face of gold. Their strategy to repair the dollar is to bring gold and silver to its level, by introducing the precious metals as actual currency.

“The idea was spawned by Republican state Rep. Brad Galvez, who sponsored the bill largely to serve as a protest against Federal Reserve monetary policy. Galvez says Americans are losing faith in the dollar. If you're mad about government debt, ditch the cash. Spend your gold and silver,” he says.

His idea isn't to return to the gold standard, when the dollar was backed by gold instead of government goodwill. Instead, he just wanted to create options for consumers.

"We're too far down the road to go back to the gold standard," Galvez said. "This will move us toward an alternative currency."
The state of Utah has the potential to cause a gold and silver currency trend with the pass of its new tender law. What will the future hold for gold as currency? Will we see this adaptation spread throughout the country? Utah hopes so.

Source: http://www.zerohedge.com/article/china-prepares-launch-gold-etfs-utah-becomes-first-state-make-gold-and-silver-legal-tender

Monday, May 23, 2011

Price of Gold rises again; China becomes World’s Newest Largest Gold Consumer

It was only a few weeks ago that the Cash 4 Gold blog published two posts on the consumption of gold in India. A blog post was published on India’s Gold consumption and its holdings in gold investments which made it the largest consuming country of gold in the world. The Cash4Gold blog also covered the Akshaya Trihiya Gold Festival in India and one of its top priced items, the Shree Yantra. But now, a new country has recently taken the crown, becoming the new largest consumer of gold…

China has become the top consumer of gold, surpassing India in gold reserves and investments. The World Gold Council (WGC) reports that China’s total purchase of gold in the first quarter of the year comes to a total of 90.9 tons. India’s top gold holdings are now at 85.6 tons, falling for the first time into the number 2 spot behind china at a 2% decrease.

Though China has surpassed India in the being the largest consumer of gold, India still plays a vital role in gold consumption. Together, China and India accounted for almost half of all gold demand worldwide (estimated at 41%).

The surge of Chinese interest in gold has also played yet another role. The Price of gold has raised yet again thanks directly to new Chinese gold investments. Passing the $1,500 mark for the second time this year the price of gold rose to $1,501.50 per ounce.

Friday, May 20, 2011

Gold value V.S Chocolate value

Gold has been a staple of economics for many years because of its brick by brick building placement in currencies around the world. Gold stands as the foundation of currency, and the price of currency is most often based on the price of the gold bullion. Chocolate, a favorite of American sweets nationwide, is also plays a key role in American diets. But how do chocolate and gold relate financially?

The Hershey Bar, a favorite American chocolate, was introduced over 100 years ago in 1894. Since then, the brown cut chocolate bar has sold at different prices during different times. In the same way that the price of gold continues to change dramatically over time, the Hersey Bar has moved along with it.

The value of gold is always changing, and has been so since its discovery. But what does that mean for America’s famed chocolate bar? It’s value has also jumped with the price of gold. A chart published by foodtimeline.org shows how gold rules over the economic value of all things, even chocolate bars.

Wednesday, May 18, 2011

Najmat Taiba- World's Largest Gold Ring

A marvelous and eye grabbing piece of gold has arrived in Dubai’s “Deira Gold Souk”, a premier destination for gold enthusiasts in the Middle East. The “Najmat Taiba”, or, Star of Taiba, pictured above, is the world’s largest gold ring. Weighing in close to that of the average person, this massive 150 pound “gold ring” is 21 karot gold and additionally plated with 11 pounds of precious stones.

The Times of India reports that the ring is worth a considerable amount. The Najmat Taiba’s owner claims that it cost $547,000 to make the ring back in 2000. However, with the dramatic and now record breaking increase in the price of gold, the Najmat’s worth has multiplied drastically.

“"While it cost $547,000 to make the ring in the year 2000, the current value is worth over $3 million. This is the world's biggest gold ring and we have displayed it on behalf of Taiba, the Saudi Arabian jewelry maker who made this unique piece in 2000 when the gold price was only $250 per ounce," Kanz Jewellers Managing Director Anil Dhanak said.”


Tuesday, May 17, 2011

Gold in Space

Gold is used for an incredibly large amount of technology because of its useful makeup. With reflectivity, conductivity, and corrosion resistance as key material makeup’s involved in gold, companies like NASA have been using gold as a key element in their space programs for years. As a matter of fact, gold has become invaluable in many of NASA’s projects in space, including protecting space astronauts themselves from deadly space rays.

“Reflective gold-coated plastic film protects essential equipment from intense solar radiation and heat. Similarly, a layer of gold on the astronauts’ helmets defends against lethal doses of radiation when working in space.”

Even the Hubble Space Telescope(pictured above), which is responsible for many of our solar images and understanding, is coated in gold. The World Gold Council states: “Gold coatings protect the $1.5 billion Hubble telescope against corrosion and electrical connections.” The reflectivity of gold protects the Hubble and is part of the reason why the telescope has been in orbit safely for over twenty years.


Monday, May 16, 2011

Gold Medicine to fight against cancer

Gold has long had a history of service in the medical field for society. Since medieval times, gold has been used to benefit health with the long term belief that a metal so rare and beautiful must also provide healthy benefit to humans. These beliefs turned out to have some merit after all when gold salts were used for its anti-inflammatory purpose, as well as successful use in fighting arthritis and similar conditions.

The dawn of nanotechnology has seen gold use increase in various new ways. Nanotechnology is now also testing the use of gold in brand new medical trials that may provide exciting results for cancer treatment in this nanotechnology age.

“In medicine, gold nanoparticles can serve as a simple, elegant platform upon which potent therapies may be bound. In this clinical trial the nanoparticles, which were coated with both an immune-avoiding molecule and a potent anti-cancer agent, were shown to be very well tolerated and to target solid tumors. There is hope that such targeting technology will be effective against a range of cancers, including lung, pancreatic, breast and ovarian cancer.”


The success of these trials may provide new ways to fight against cancer, using gold nanoparticle-based therapeutics to be used before surgery, in hopes that the gold particles may assist in pre-surgery therapy and possibly avoid surgery altogether.

As the value of gold continues to rise, more uses for gold have begun to emerge in today’s technological driven world.