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Understand the Uses of Gold Bullion With the Help of

The United States is still attempting to extricate itself from the economic quagmire of its own making. The US senate has to decide how much to spend on health care, a jobs bill, and if it will reconfirm Federal Reserve Chairman Ben Bernanke for a second term. At the same time the gold bullion investor is considering how successful the government will be or how much worse of an economic mess it will create. The investor is thinking of the uses of gold bullion.

Investors often think of gold as an alternative currency and, in fact, gold was used as money for most of human history. Now, gold is what the investor buys to preserve and increase wealth as the economy falters and the value of the dollar slides. However, the uses of gold bullion go beyond it use to store wealth, function as currency, or even its use in jewelry. Gold is a unique element, being chemically the least reactive. This quality makes gold useful in electronics as it is very resistant to corrosion as well as being a good conductor.

Because of gold’s dual use property its price benefits from an improving economy as well as a failing one. Its industrial use and its use in jewelry increase with a strong economy, while its use as a hedge against economic chaos increases when economic times are bad.

A measure of gold’s corrosion resistance is that it does not dissolve in nitric acid unlike silver and other metals. This gave rise to the term “acid test” as a test for gold or a test for lasting value. Gold, it seems, passes the acid test as an element and as a means of protecting wealth during economic hard times. 

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Jonathan Monroe

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