This makes it one of the elements with the highest atomic number found naturally. It is a shiny, slightly orange-yellow metal, dense, soft, malleable and ductile in pure form. So what is gold? The simple answer is, well, gold. Gold adds to the ranks of some 118 identified chemical elements, the most basic substances in the known universe.
A chemical element is a pure, homogeneous material that contains nothing but itself. Most of the matter with which we interact on a daily basis is a combination of multiple elements. Water, for example, contains two hydrogen atoms and one oxygen atom (“H-2-O). Therefore, water, as abundant as it is in this world, is not an element, but rather presents a level of complexity as a union of simpler basic elements.
Gold is a soft yellow metal. Like all other metals, gold is also very malleable and ductile. In addition, gold is able to conduct electricity and heat quite easily. The atomic number of gold is 79 and its elemental abbreviation is Au, from the Latin “aurum” which means “shining dawn”.
Gold has an extremely high density of 19.3 g per cubic centimeter, slightly higher than that of lead. Some gold standards are only based on the actual circulation of physical gold coins and ingots, but others allow other commodities or paper coins. Inflation is rare and hyperinflation does not occur because the money supply can only grow if the supply of gold reserves increases. Gold coins were not the perfect solution, since a common practice in the centuries to come was to cut these slightly irregular coins to accumulate enough gold that could be melted into ingots.
This is largely due to the high commercial value of native pure gold minerals in their natural, unprocessed form. There were many interruptions in the gold standard, especially during times of war, and many countries experimented with bimetallic standards (gold and silver). As you've no doubt seen on people's fingers or around their necks, gold plays a very important role in the production of most of the world's jewelry. The group in which gold can be found is often referred to as the “minted metals” group, since its members are frequently used to produce money.
According to some economists, the gold standard can also prevent the mitigation of economic recessions because it hinders a government's ability to increase its money supply, a tool that many central banks have to help boost economic growth. Governments often spent more than their gold reserves could afford, and suspensions from national gold standards were extremely common. As the name suggests, the term gold standard refers to a monetary system in which the value of a currency is based on gold. The lower carat values represent alloys, mixtures of gold and other metals such as copper, zinc and silver.
The so-called classic gold standard era began in England in 1819 and spread to France, Germany, Switzerland, Belgium and the United States. From ancient times, until the California Gold Rush in the 19th century, until today, gold has been a mark of wealth and prestige. The above information relates to the isotope gold-197, which is the only stable isotope of naturally occurring gold. The gold mining industry around the world primarily extracts gold from other minerals that only contain small amounts of gold, which are then processed (crushing them into powder or powder and melting them) to extract gold.
On the contrary, nations with trade deficits saw their gold reserves decrease, as gold came out of those nations as payment for their imports.