Technology plays a huge part in our lives. Over the last decade, we have made leaps and bounds with technology with Cellphones and Artificial intelligence being more than just a theoretical possibility but a reality. We look to technology to solve our daily human problems, from communications to health care. Our world has become better because of the technological developments we have made over a relatively short space of time.
For a long time, we have known gold to be a vital metal in the jewellery making industry but according to the World Gold Council, more than 50% of the gold mined is used in the jewellery industry. It is not only newly mined gold that is highly valued but used gold is also very valuable. Because of its rarity and consumption, gold is valued so high that it has been taken used throughout history as currency. It is bought and sold as a valuable investment because of its safe-haven status. However, over the last couple of years more and more gold is used in technology and there is a growing number of dealers working to fulfill the supply demands by buying gold from the public to sell to refineries. You can easily find a gold buyers in your area.
Computers, cellphones and other gadgets have components that are made of pure gold. These devices need to have electrical conductors that can withstand the test of time and there is no other metal that conducts electricity as well as gold. Gold metal conductors used in electronic equipment might be alloyed with nickel or other metals to make them stronger because in its purest form gold is very soft and not as durable.
Electronic gadgets – gold is used in electronic gadgets not only because it is a good conductor of electricity but because it is not susceptible to corrosion like other metals. This is why you will find gold in connection wires and strips.
Mobile phones – It is estimated that there are over seven billion cellphones in the world and they all contain some gold. On average a mobile phone is estimated to contain an average of 50mg of gold. This means there are about 350 tonnes of gold contained in cellphones. That’s more than what Australia produces every year. There are only two other metals that conduct electricity better than gold and these are silver and copper. However, gold is used in digital devices because it transmits data faster than any other metal. The use of gold in cellphones and other digital devices has been growing and will continue to do so if in the future every adult human being has a cellphone. The need to recycle has been highlighted to a point where the Medals that were given out during the Tokyo 2020 Olympics were made from recycled cellphones that were collected from the public. This was the first time the recycling of gold was promoted on such a large scale. It is possible in the long run that your local gold buyers will start buying gold stripped from cellphones just as easily as they buy gold jewellery.
Medicine – Gold has been used in cancer treatment for years. It is introduced into the body as radioactive isotopes that set in human tissue and become a source of radiation. It is also used in the treatment of certain medical conditions like rheumatoid arthritis.