Gold in its common form of jewellery is well known to all humans regardless of the region or society, however there are a lot of unknown facts about gold that are also interesting, here we present a fact sheet on some of the more interesting and true parts of gold history.
- The Egyptians were indeed a creative lot when it came to getting their hands on gold. One of the most ingenious methods that they ever came up with was using unshorn sheepskin to mine for gold dust. They did this around 1200 BC in the Black Sea. In general the Egyptians considered gold as the flesh of the gods and it was actually due to this that gold was not made available to anybody else but the pharaohs who were thought to be the direct descendants from Egyptian gods. It was not until much-much later that priests and other members of the royal court were allowed to own gold as well. When ancient Egyptians mention ‘the house of gold’ they were actually referring to the chambers that held the Pharaoh’s sarcophagus.
- Gold is nonreactive or in other words a docile element that is chemically inert, which typically means that it does not react to anything in an ordinary situation or state, which explains why it never goes through the oxidation process. This is also why gold does not irritate the human skin. If at all gold jewellery does cause some kind of irritation to the skin, there is a very high possibility that the gold is not that pure and has been tampered with in terms of content.
- In March 2008 the fear of recession drove the price of gold until, the price of gold topped $1,000 an ounce for the first time in history.
- The largest gold nugget ever found was discovered by John Deason and Richard Oates in Australia in February 5, 1869. The rock was almost a foot wide and 2 feet in length and yielded 2,248 ounces of gold. Found about just two inches below the ground surface the golden ‘rock’ was named ‘the welcome stranger’
- According to the World Gold Council report that was released in February 2009 The demand for gold has rose sharply since the second half of 2008. The Dow/Gold ratio, which shows how much gold it would take to buy one share of the Dow, is a good indicator of how bad a recession is. In early 2009, the Dow/Gold ratio appeared to be heading toward the same low ratios that occurred during the 1930s and 1980s. In 2005, Rick Munarriz queried whether Google or gold was a better investment when both seemed to have equal value on the stock market. By the end of 2008, Google closed at $307.65 a share, while gold closed the year at $866 an ounce.
- Gold medals awarded to Olympic champions were made of solid gold in 1912, after which the medals awarded were only ‘coated’ with six grams of gold.
- The Incas thought gold represented the glory of their sun god and referred to the precious metal as “tears of the Sun.” Because gold was not yet used for money, the Inca’s love of gold was purely aesthetic and religious.
- Gold is not only worthwhile as an investment and to buy and sell, but there are now a variety of gold loan options from dedicated gold pawnbrokers in major capital cities, which can offer short term loans on your gold, providing an option to short term personal loans from regular banks and financial institutions.
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