The electronics industry continues to dominate demand for gold products. Conduction properties and resistance to oxidation make the precious metal a favourite in this sector. Likewise, there are other potential exciting markets which also include environmental management and medicine.
Gold is preferred in electronics because of its toughness, proven dependability and compatibility in terms of materials. The precious metal can be developed through nanotechnology and become useful for visual display as well as modern data storage. One example is the flash memory device.
This commodity can also help combine electronics and medicine. In the United States, one start-up enterprise is planning to use so-called “stretchable electronics” wherein gold wires (thickness is measured in nanometers) are used on expanding polymer plastics. There are other possible applications such as expandable solar panels and implantable electronic items.
Gold has bio-compatibility properties. It has been utilized in medicine particularly dentistry for hundreds of years. Only recently, it was found to be suitable for treatment of various diseases. Progress in nanotechnology has attracted the attention of medical researchers to this yellow metal. Scientists are now looking for ways to take advantage of the metal’s distinct characteristics and create sophisticated diagnostic equipment and treatment modalities.
At the same time, experts say gold Nano-particles may be the answer to urgent environmental issues. This valuable commodity can be used as catalyst that reduces dangerous automotive emissions. Catalytic converters are materials that speed up chemical reactions with no risk of being used up in said process. Aside from gold, palladium and platinum metals are also possible catalysts.
Through the help of the World Gold Council, entrepreneurs introduced a catalytic convertor was unleashed in the market four years ago. The WGC is collaborating with large manufacturers to push research regarding this essential technology. Meanwhile, concerns (worldwide) regarding the contributions of fossil fuels to climate change have triggered the search for other potential sources of alternative energy. Gold has turned out as one of the components to develop these options.