Gold: what makes it so desirable?

Gold: what makes it so desirable?

Sub: Geo

SEC: Eco geo

Context:

• Each of the Nobel Prizes to be awarded from October 7 will include a medal of electrum, an alloy of gold and silver, plated with 24 carat gold.

About Gold:

• Atomic Number: 79
• Latin Name: Aurum (Symbol: Au)
• Gold nuggets are typically found in mountainous areas with quartz veins.

Desirability:

• Gold is a precious metal famed for its use in jewellery and as a form of investment.
• Approximately 10% of global gold production is used in industry, mostly used for connectors in computers.
• Gold is a significant part of national reserves and is often held by central banks.

Characteristics:

• Doesn’t dissolve in strong nitric acid.
• Malleable, ductile, corrosion-resistant.
• Good conductor of electricity.
• Dissolves in aqua regia (a mix of nitric and hydrochloric acids).
• Dissolves in some alkaline solutions and mercury.
• Noble Metal: Among noble metals, gold is less reactive than all except platinum.

Global Production:

• South Africa was the leading producer since the late 19th century.
• Currently, China is the largest producer.Major producers include Australia, Russia, the USA, and Canada.

Indian Context:

• India is one of the largest consumers of gold, primarily for jewellery.
• Karnataka is the largest producer of gold in India.