MAYBANK GOLD SAVING ACCOUNT (MALAYSIA)

GOLD FACTS

>> Friday, October 30, 2009


Gold
From the Old English word "geolo" meaning yellow, gold is probably one of the oldest metals first utilised by ancient metal workers. It's chemical symbol Au comes from the Latin word "aurum" which translated means "golden or shining dawn". Gold pieces dating back to 3000 b.c are evidence of the nobility and beauty of gold, that still survive today as testament to this wonderful metal.


The chemical symbol of Gold is Au
The melting temperature of Gold is 1064.43 º C, although when alloyed with other elements such as silver or copper the gold alloy will melt over a range of temperatures.
The atomic weight of Gold is 196.97
The atomic number of Gold is 79
The boiling point of Gold is 2807 º C
The crystal structure of Gold is Cubic
The molar mass of Gold is 196.97 g/mol
Gold has 79 electrons
Gold has 21 isotopes
Gold has 79 protons
The specific gravity of Gold is 19.32




What is Gold?


Gold is a very ductile malleable precious metal. It is a heavy, yellow, metallic chemical element. Gold is used in the manufacture of a wide variety of products including jewelery, electronics, and gift ware to name a few. Gold finish appearance is pale yellow to orange yellow; there are many colours and tints commercially available.


Gold has excellent corrosion resistance. The higher the carat gold and layer thickness, the greater the long term resistance to oxidation and discoloring. Gold finishes can be made harder by adding an alloy to the formula; however, in some cases this could limit the maximum layer thickness that could be plated due to embitterment of the plated layer.



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20 REASONS TO OWN GOLD

1. Practicality: Gold is still by far the optimal choice for most investors


2. Protection: Likely ruptures in the stability of the U.S. dollar standard


3. Profit potential: Gold prices will eventually peak well above $2,000/oz.


4. Inflation hedge: The most powerful factor affecting gold is monetary inflation.


5. Supply/Demand: 2009 gold supply/demand dynamics: irreversible changes.


6. Low risk: Gold’s downside risk is paltry compared to the upside potential


7. Privacy: Numismatic coins offer private ownership benefits over bullion


8. Central banks buying gold: To diversify reserves away from U.S. dollars


9. China: Chinese quietly buying gold / commodities to hedge U.S. paper


10. Secular Bull Mkt: Shortest commodity bull market 15 yrs, longest 23 yrs


11. Gold is money: Gold now accepted as 4th global currency (with $, Eu, Y.)


12. Gold going mainstream: This is still a relatively stealth gold bull market


13. Good timing: Investors should not worry about good/bad gold entry points.


14. Commodities an accepted asset class: For the first time in recent history


15. Price corrections: A sure sign of a healthy bull market, buy on the dips


16. Geopolitical risks: Gold/oil prices reflect rising nuclear threat


17. Gold you hold in your hand: Numismatic coins or bullion are best


18. ETFs: Gold gaining strength from ETFs, corporate and pension money


19. No gold bubble yet: 5-7 years out could launch gold above $5,000/oz.


20. True value: Regardless of what the media says, gold offers true value

THE HISTORY OF GOLD

While bits of natural gold have been found in the remains of inhabited caves dating back as far as the Palaeolithic Era around 40,000 B.C., there is some agreement that gold was first used as adornment in the temples of ancient Egypt. Interestingly enough, gold was not used as money at that time. Instead, the ancient Egyptians used barley as their exchange medium. By the 7th century B.C. gold was used as money in Lydia. Gold has been used for ornaments and decoration and as money for over 5,000 years. Gold leaf has been used for the decoration of tombs and statues, cathedrals and temples, fine books, and picture frames since Egyptian times. Many Egyptian burial cases, including King Tutankhamun’s (1352 BC), were overlaid with beaten gold (called gilding). Gold leaf is still often preferred for adorning the domes or ceilings of buildings (such as the Metropolitan Opera House in New York) because its resistance to corrosion means that it will outlast paint by many years.

Gold was made into jewellery long before it was used as currency. The earliest gold jewellery dates from the Sumeric civilisation around 3,000BC. For centuries, gold has meant wealth, prestige, and power, and its rarity and natural beauty have made it precious to men and women alike. Owning gold has long been a bulwark against disaster. Many times when paper money has failed, men have turned to gold as the one true source of monetary wealth. What is gold and why is gold so important?

Gold is a rare metal. It has the chemical symbol Au, named after Aurora, the Roman goddess of the dawn. The purity of gold is described by its ‘fineness’ in parts per 1,000 or by the carat scale which is parts per 24. The word ‘carat’ derives from the Italian carato, Arabic qirat or Greek keration, all meaning the fruit of the carob tree. Ancient traders used carob seeds as the means to balance the scales in oriental bazaars. Pure gold is 24 carat or 1,000 fine. The price of gold and other precious metals is quoted in terms of troy ounces. The term ‘troy’ is derived from Troyes, France, a major trading city of the middle ages. One troy ounce equals 31.1 grams.

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