Why is Gold considered a precious metal?

Question

Jewel stores always have an ample supply and gold can never be used up or go away.

Answer 1

The demand for gold can rise (if more people want it), but there is still the same amount. Therefore the price rises, as it is effectively more rare.

For a metal to be precious, it has to be rare. You say it can never be used up, but the opposite can happen. When more gold ore is found, the price goes down as there is larger supply.

You say there is ample supply, but if there really was plenty around, the cost would be much lower. The cost (and the status of "precious metal") is driven by its availability.

For more info check out http://en.wikipedia.org/wiki/Precious_metal

Answer 2

It's rare, and it's shiny. That's what makes a precious metal, precious. There is no usefulness other than looking at it, and some laboratory experiments. The relative weakness makes it utterly foolish to use in construction or for any other practical use for that matter.

The author Thomas More made fun of the way gold is worshipped in society in his piece, "Utopia" in which gold is so abundant that it is used to make the chains of slaves. He shows how odd the fasination with gold is by proving that is no more than any other metal.

Because of it's wide use in historic times as money, gold has become the standard for currencies in many countries. The allure of the yellow luster simply impressed the rich high society people of old.

Answer 3

It is yellow like the sun and shines forever, resisting to any chemical attack. Will not oxidate as other metals do.
Only Mercury can dissolve it, but it can still be recovered afterwards, which is what miners do.
Also, gold is soft and easy to work into jewels, coins, etc.
Also it is one of the best electricity conductor and it is widely used in critical highly performant circuitry and connectors.

Answer 4

i think of you're unduly worried. entire gold latest in earth's crust taken mutually won't even fill a typical 2 tale development (its density is nineteen.5 - bear in strategies). Gold is pricey because of the fact of various motives : a million. it quite is a uncommon steel, even a three gm/tonne is a stable adequate ore to be mined. 2. it quite is a noble steel, would not react with different factors, different than some. 3. it quite is malleable, you may truthfully exchange it on your needed shape 4. it quite is rather particularly conductive of warmth and electrical energy. 5. It has super seems and lustre. Even without ornamental or ornamental values, its intense particular gravity, malleability and electric powered conductivity make it an rather very clever steel. It has some medicinal values besides. So, you have not any reason to be bothered in regards to the way forward for the steel already extracted. it quite is real that it value too many human lives; yet for that our greed is to blame, not the steel.

Answer 5

it is not so much as diamonds but it is