A couple of days ago, CNBC commentator Jim Leventhal made a pretty astounding comment. When asked about gold, Leventhal said he had no interest in it because gold has no uses as a metal.
No uses?
What?
We continue to see new innovations using gold in the field of healthcare. The next time you have surgery or cut yourself, doctors could close you up with a substance using the yellow metal.
Scientists continue to find new uses for gold, particularly in the medical field.
In the latest development, scientists have discovered a process using gold nanoparticles that helps reduce inflammation and speeds healing in damaged muscles
3D printing is a rapidly evolving technology that could potentially change the world like the internet did. People are most familiar with 3-D printing due to the controversy surrounding 3D printed firearms. But the technology can be used to produce everything from tiny precision components to houses.
Now gold has a role to play in the evolution of 3D printing technology. Scientists at Vanderbilt University have developed a process using gold nanoparticles to reveal tiny defects in 3D printed parts.
Rutgers University-New Brunswick researchers have developed a star-shaped gold nanoparticle that could open the door to improving storage of solar energy.
According to scientists at the university, the nanoparticle coated with a semiconductor can produce hydrogen from water over four times more efficiently than other methods. The development could boost solar energy use and possibly lead to other renewable energy developments.
In recent years, gold has been increasingly valued for its use in various technological applications. In a report late last year, the World Gold Council reported the demand for gold in the technology sector has been growing since 2016 and that growth is continuing to accelerate due to new innovations.
Some of the most amazing developments utilizing the yellow metal have been in the field of medicine. For instance, researchers at the University of Queensland have developed a blood test using gold nanoparticles that could help oncologists in their treatment of cancer patients. According to the university, the test will provide doctors with an early and more accurate prognosis of how cancer treatment is progressing and help guide ongoing therapy.
We think of platinum and palladium as the “industrial metals,” but in 2016, there was more gold used in industrial applications than either of these two metals.
According to a report released by the World Gold Council, demand for gold in electronics has been growing since the fourth quarter of 2016. On top of that, other emerging technologies in the health and energy sectors are also driving up the industrial demand for gold. All of this could have a positive impact on overall gold demand in the future.
The London Bullion Market Association recently chose a new administrator for its silver price auction, and scientists have discovered a variety of rice that accumulates and stores naturally occurring silver in the soil.
The Silver Institute covers these stories, and highlights several other technological innovations involving silver, in its latest issue of Silver News.
