Home Discover Journals Is gold the most expensive substance in the world?

Is gold the most expensive substance in the world?

By Finserv MARKETS - Aug 27,2019
Views Icon271 Views 0 0 Comments

Is gold the most expensive substance in the world

Gold is one of such elements that has held value over time. It cannot be created — rather, it can be mined and extracted. The very fact that there is only enough gold around adds value to this yellow metal. It has been exchanged and traded for long, and is an integral part of several cultures around the world.

Gold has several characteristics attached to it, which has made it a valuable metal. One ounce of gold is said to draw around 80 kms of thin gold wire. It can also be beaten into a sheet which can cover 9 square meters at a thickness of 0.000018 cm. It is also said to have an electrical resistivity of 0.022 micro-ohm and a thermal conductivity of 310 W m-1.

All these properties make gold a precious metal — one which you can buy and store, and count upon to give you returns over time.

Is gold the most expensive?

Gold is an expensive metal. It is used in various forms for various purposes. Present-day uses of gold include applications in dental fillings, electronics and computer, jewelry, medals, statues, and others. Monetarily, it has been used to back currencies and can be exchanged for cash anytime. If you were to go broke with nothing in hand at all, then you could exchange gold for cash at any time. It is regarded very precious in several parts of the Indian culture and its exchange for money is common.

Cultural benevolence apart, gold is shown to hold some stability against strong financial waves — it’s a sort of firm umbrella in a storm. Between December 2016 and August 2019, the value of 10 gram of gold (at a point in the particular month), has gained worth Rs 11,000 in value.

Is gold the most expensive substance in the world

However, gold is not the most expensive element in the world. It falls below several others, such as platinum, plutonium, diamonds, among others. Gold, however, is the most popular among these due to its ease of availability and liquidity. Online gold has arrived as a new concept where people can buy gold online at market-linked rates and sell it. You also have the option to redeem it into bars and coins. It also leads to savings, since buying online gold eliminates many factors that add prices to it, such as manufacturing and storage costs, and designing costs if it’s a piece of jewelry. The manufacturing process of jewelry takes time and effort, and that is why it can be expensive.

Can metals make money?

It is not easy to acquire rare and expensive metals in the first place. It takes a lot of time and effort to get a hold of them, so their prices tend to be unusually high. Their application, too, is beyond the regular workings of our life. Gold, however, is one of the most widely distributed metals which still has a value attached to it. So if you buy gold and keep it, you are likely to retain and grow wealth in the long run. When you buy gold online on Finserv MARKETS, you do not have to worry about storying the gold or carrying it with yourself if you travel a lot.

You can buy gold online, sell and redeem it on Finserv MARKETS in grams or rupees. Digital gold on Finserv MARKETS come with 100 percent transparency and no hidden charges. All the information that you need to know before you buy online gold will be provided upfront to you.

Conclusion

In order to buy digital gold, you need to provide your name and your registered mobile number. You also need to input the pin code of the place where you have initiated the purchase of digital gold. You need to provide this information for transactions that cross Rs 50,000. You need to share your PAN card details for single transactions amounting to Rs 2 lakh or more.

A 2-step process of buying gold online only makes the whole process easier, uncomplicated, and hassle-free. Besides, you get to avoid the additional charges that come with buying gold jewelry from stores. It is a great investment instrument if you do not want to take any significant in your investment portfolio. It is an excellent choice if you’re going to invest in something that can guarantee liquidity whenever you want, at your will.

Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. We understand that every individual is different and thus when you plan to achieve your life goals or shop for the gadget of your dreams, we believe in helping you Make it Happen in a few simple clicks. Simple and fast loan application processes, seamless, hassle-free claim-settlements, no cost EMIs, 4 hours product delivery and numerous other benefits. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!

Comments

Connect with Us
Connect with Us

Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522