Gold (Au) is an inert earth element, which is a yellow metal with a reddish hue. It is the most malleable and ductile metal available in the global market, which is also a good conductor of heat and electricity. The metal is one of the least reactive materials, which is insoluble in acids, but is soluble in aqua regia and Sodium cyanide solution. The melting and boiling point of the metal is measured around 1064° C and 2700° C, respectively.
Gold, naturally, is a very soft metal that can be moulded in different shapes and structures. This flexibility is used to sculpt expensive jewellery, which has great demands in commercial places. The metal is often mixed with other metals like aluminum, copper, silver, zinc, nickel, cadmium, platinum, or palladium to generate alloys with different industrial applications.
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The key importing countries for Gold are India, the United States, and Vietnam. On the other hand, the primary exporting countries for the same are India, China, and Vietnam.
Key Details About the Gold Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Gold price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Gold Price chart, including India Gold price, USA Gold price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Gold Price Trend:
Gold is an expensive metal that has various industrial applications. It is an excellent conductor of electricity and can remain corrosion free, which makes it a perfect material for manufacturing electronic products. It is used to manufacture electronics such as connectors, soldered joints, switches and relay contacts, wires, connection strips, etc. 80% of Gold in the market is used by the electrical and electronics sectors.
Additionally, the metal is used in medical units and dentistry, as it shows no adverse effects when it comes in contact with tissues or skin. Evidently, it is a biocompatible metal. It also acts as a thermal barrier and IR reflector, which is used in the medical sector. The space crafts are coated with Gold flakes as it acts as a radiation-controlling layer. The flakes are also included in manufacturing tubes such as Gold-plated grid wires that give higher conductivity and suppress secondary emissions.
Key Players:
- New Gold Inc
- Barrick Gold Corporation
- AngloGold Ashanti Limited
- Harmony Gold Mining Company Limited
- NOVAGold Resources Inc
- Gabriel Resources Ltd.
- Golden Star Resources Ltd.
- Freeport-McMoRan Inc. (FCX)
News & Recent Development
- Date: June 28, 2023- The Wagner group of Russia has been alleged by the United States, accusing it of being engaged in unlawful Gold dealing to fund the militia to sustain the armed forces.
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