by janskoyles, Goldcore:
– Gold has yet another purpose and may help fight cancer
– Gold increases effectiveness of drugs used to treat cancer cells by acting as catalyst – research shows
– Use of gold in technology and health growing each year
– Tech use to increase- number of patent applications in 2017 grew
– Industrial applications such as solar and bio-metrics reduce availability of above ground supply and gold for investment
– Another string to the bow of gold and potential impact on sentiment towards gold and on the gold price
– ‘Could gold finally have a purpose?’ bizarre headline ignores gold’s 2,500 plus year history as a means of exchange, money and a store of value
Editor: Mark O’Byrne
Real, scientific evidence has been popping up for a while now which suggests the precious metal can make some major contributions to the world of science and medicine.
As a fan of Goldschläger I have long been convinced of the health benefits of gold and just last week a research team at Edinburgh University announced results that showed gold nanoparticles could increase the effectiveness of drugs used to treat lung cancer cells.
This latest announcement from the field of science is one of many which have been cropping up outside of the investment space, from medicine to solar panels to space technology, gold is making significant strides when it comes to its place outside of the financial world.
In the last quarter, gold used in technology rose 2% y-o-y, according to the World Gold Council. This was mainly thanks to a growth in demand for bonding wire, Printed Circuit Boards (PCBs) and LEDs.
It is not surprising that gold has a place beyond money. Due to it high conductivity, chemical stability and compatibility with other elements it is an ideal candidate in many applications.
As technology and research improves the number of use cases for gold is growing each year. This is beneficial for those who are investing in physical gold bullion.
Demand for gold’s physical properties in science takes it out of circulation and increases the demand for physical gold thereby reducing the availability for investment purposes.
Below, we take a quick look at some of the use cases of gold and explain why this is good news for the gold market.