Since you are investing in gold or thinking about investing in gold, why not know the uses for it. By knowing these uses it also gives you insight as too where most of the gold is going and who is buying it. Gold is used in many things from electronics to dental crowns to jewelry. Pretty insane right?! Well here is a list of a few others that gold is mostly used for:
Gold as we all know is commonly used for jewelry. Most of the demand for gold is by the jewelry industry. In recent times there has been a demand for gold as an investment, but it is mostly used for jewelry because of the make-up of it. It is great for making jewelry because of how it can be priced and the fact people will buy it.
Gold in Investing: The second most popular use of gold is in the form of investment through various tools such as ETFs, futures trading, and bars/coin investing with 45% of yearly demand going way of investors. Regardless of whether you expect gold prices to explode or not, you’d be hard pressed to argue against gold’s function as a store of value which in today’s inflationary markets is certainly an investment that people are starting to consider more and more seriously.
Gold is commonly used in banking. Many banks use gold to stay afloat. Gold is used to meet banks required reserves. Since most investors do want gold, that is another reason why banks have it, to sell to people that are looking to buy. Gold is in banks to serve as heir monetary function. So as you see a lot of banks hold on to gold because it keeps their doors open.
…More at Modern Uses of Gold
I’m pretty sure you have figured out now that you need invest in gold soon since there is so much demand from these businesses and they will always need gold.
Curious about gold uses and who is buying gold? Come on over, we have some answers for you so that you know who your are competing with when buying gold.