Who Found Gold?

2008-12-29 10:50:15

( Financial )



Discover Gold's Many Uses

Gold, a highly precious and malleable element, has made its mark in the history of mankind. Since ancient times, people who found gold have mined it and transformed it into different products including jewelry, currency and even dental fillings.

It has been heavily traded in commodity futures markets because people also discover gold's value as an asset and a type of investment. The value of a country's currency and national wealth is measured partly by the amount of gold reserves it keeps. Since ancient times, gold has been considered a status symbol and source of power for its owners.

Pure gold in 24 karat form is too soft to be used as jewelry or other products but can be easily combined with other metals to produce more useful items, especially in coinage.

People Who Found Gold

Gold is one of the metals that are well-known and heavily used since ancient times. Gold is found in many continents of the world, but has high levels of concentration in South Africa, Canada, Australia, South America and the United States.

Before the Spanish conquest, ancient peoples such as the Incas have been using gold in many ways. Phoenicians, Egyptians and Romans have used gold as currency for trading, and these have been in circulation for a few centuries.

Unfortunately, people who found gold also realized its great value and uses, so they extracted it in great amounts. So in effect, only about twenty five percent of the world's gold has not been mined or extracted, while everything else has been processed or used. This in turn, has caused the price of gold to be extremely high.

It has been estimated that at current extraction levels, there will be enough supply of gold for another fifty years, before new areas have to be tapped to discover gold for the use of future generations.


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