Gold


Origin of the name: 
The name is the Anglo-Saxon word for the metal and the symbol comes from the Latin ‘aurum’, gold. 

Discovery date:  Approx 3000BC 

Image: In this image a traditional alchemical symbol for the element is used. It is also used as a sun symbol, and much of the mythology around gold relates to the sun. Early alchemists were obsessed by gold and pursued their desire to transmute base metals (usually lead) into gold. The image in the background is based on a symbolic representation of an alchemist’s ‘laboratory’.

Appearance: A soft metal with a characteristic yellow color. It is chemically unreactive, although it will dissolve in aqua regia (a mixture of nitric and hydrochloric acids).

Uses: Most mined gold is stored as bullion. It is also, however, used extensively in jewelry, either in its pure form or as an alloy. The term ‘carat’ indicates the amount of gold present in an alloy. 24-carat is pure gold, but it is very soft. 18 through 9 carat gold alloys are commonly used because they are more durable.

Natural abundance: Gold is one of the few elements to occur in a natural state. It is found in veins and alluvial deposits. About 1500 tonnes of gold are mined each year. About two-thirds of this comes from South Africa and most of the rest from Russia.

History: Gold has been known since prehistoric times and was one of the first metals to be worked, mainly because it was to be found as nuggets or as particles in the beds of streams. Such was the demand that by 2000 BC the Egyptians began mining gold. The death mask of Tutankhamen, who died in 1323 BC, contained 100 kg of the metal. The royal graves of ancient Ur (modern Iraq), which flourished from 3800 to 2000 BC, also contained gold objects.

The minting of gold coins began around 640 BC in the Kingdom of Lydia (situated in what is now modern Turkey) using electrum, a native alloy of gold and silver. The first pure gold coins were minted in the reign of King Croesus, who ruled from 561–547 BC.

 

Seawater contains about 4 grams of gold in 1,000,000 tons of water. Overall this is a huge amount of gold stored in the oceans but, because the concentration is so low, attempts to reclaim this gold have always failed.

 

Top 3 producers: 
  • 1) China
  • 2) Australia
  • 3) USA
Top 3 reserve holders:
  • 1) Australia
  • 2) South Africa
  • 3) Russia