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79-439: The department covers a total surface area of 5,124 km and, in 2015, had an estimated population of 511,943 people. Historically, the department produced gold , copper , cinnabar , asbestos , and silver . Gems were also mined, including opal and emerald . The area was also known for "fine" cattle . This Honduras location article is a stub . You can help Misplaced Pages by expanding it . Gold Gold

158-399: A fault . Water often lubricates faults, filling in fractures and jogs. About 10 kilometres (6.2 mi) below the surface, under very high temperatures and pressures, the water carries high concentrations of carbon dioxide, silica, and gold. During an earthquake, the fault jog suddenly opens wider. The water inside the void instantly vaporizes, flashing to steam and forcing silica, which forms

237-483: A P/E higher than others in its industry. According to Investopedia author Troy Segal and U.S. Department of State Fulbright fintech research awardee Julius Mansa, growth investing is best suited for investors who prefer relatively shorter investment horizons, higher risks, and are not seeking immediate cash flow through dividends. Some investors attribute the introduction of the growth investing strategy to investment banker Thomas Rowe Price Jr., who tested and popularized

316-483: A dilute solution of gold(III) chloride or chlorauric acid . Unlike sulfur, phosphorus reacts directly with gold at elevated temperatures to produce gold phosphide (Au 2 P 3 ). Gold readily dissolves in mercury at room temperature to form an amalgam , and forms alloys with many other metals at higher temperatures. These alloys can be produced to modify the hardness and other metallurgical properties, to control melting point or to create exotic colors. Gold

395-579: A gold-from-seawater swindle in the United States in the 1890s, as did an English fraudster in the early 1900s. Fritz Haber did research on the extraction of gold from sea water in an effort to help pay Germany 's reparations following World War I . Based on the published values of 2 to 64 ppb of gold in seawater, a commercially successful extraction seemed possible. After analysis of 4,000 water samples yielding an average of 0.004 ppb, it became clear that extraction would not be possible, and he ended

474-830: A golden hue to metallic caesium . Common colored gold alloys include the distinctive eighteen-karat rose gold created by the addition of copper. Alloys containing palladium or nickel are also important in commercial jewelry as these produce white gold alloys. Fourteen-karat gold-copper alloy is nearly identical in color to certain bronze alloys, and both may be used to produce police and other badges . Fourteen- and eighteen-karat gold alloys with silver alone appear greenish-yellow and are referred to as green gold . Blue gold can be made by alloying with iron , and purple gold can be made by alloying with aluminium . Less commonly, addition of manganese , indium , and other elements can produce more unusual colors of gold for various applications. Colloidal gold , used by electron-microscopists,

553-400: A greater level of uncertainty. Industry to industry volatility is more or less of a risk depending. In biotechnology , for example, investors look for big profits on companies that have small market capitalizations but can be worth hundreds of millions quite quickly. The risk is high because approximately 90% of biotechnology products researched do not make it to market due to regulations and

632-567: A large alluvial deposit. The mines at Roşia Montană in Transylvania were also very large, and until very recently, still mined by opencast methods. They also exploited smaller deposits in Britain , such as placer and hard-rock deposits at Dolaucothi . The various methods they used are well described by Pliny the Elder in his encyclopedia Naturalis Historia written towards the end of

711-510: A low-risk investment is made, the return is also generally low. Similarly, high risk comes with a chance of high losses. Investors, particularly novices, are often advised to diversify their portfolio . Diversification has the statistical effect of reducing overall risk. In modern economies, traditional investments include: Alternative investments include: An investor may bear a risk of loss of some or all of their capital invested. Investment differs from arbitrage , in which profit

790-416: A month for the next 3 years, regardless of the share price of their preferred stock(s), mutual funds , or exchange-traded funds . Many investors believe that dollar-cost averaging helps minimize short-term volatility by spreading risk out across time intervals and avoiding market timing. Research also shows that DCA can help reduce the total average cost per share in an investment because the method enables

869-462: A novel type of metal-halide perovskite material consisting of Au and Au cations in its crystal structure has been found. It has been shown to be unexpectedly stable at normal conditions. Gold pentafluoride , along with its derivative anion, AuF − 6 , and its difluorine complex , gold heptafluoride , is the sole example of gold(V), the highest verified oxidation state. Some gold compounds exhibit aurophilic bonding , which describes

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948-468: A number of individual end investors into funds such as investment trusts , unit trusts , and SICAVs to make large-scale investments. Each individual investor holds an indirect or direct claim on the assets purchased, subject to charges levied by the intermediary, which may be large and varied. Approaches to investment sometimes referred to in marketing of collective investments include dollar cost averaging and market timing . Free cash flow measures

1027-480: A previously settled portion of the profit, though the agent was not liable for any losses. Many will notice that the qirad is similar to the institution of the commenda later used in western Europe, though whether the qirad transformed into the commenda or the two institutions evolved independently cannot be stated with certainty. In the early 1900s, purchasers of stocks, bonds, and other securities were described in media, academia, and commerce as speculators. Since

1106-477: A satisfactory overall price for all [their] holdings." Micro-investing is a type of investment strategy that is designed to make investing regular, accessible and affordable, especially for those who may not have a lot of money to invest or who are new to investing. Investments are often made indirectly through intermediary financial institutions. These intermediaries include pension funds , banks , and insurance companies. They may pool money received from

1185-401: A sheet of 1 square metre (11 sq ft), and an avoirdupois ounce into 28 square metres (300 sq ft). Gold leaf can be beaten thin enough to become semi-transparent. The transmitted light appears greenish-blue because gold strongly reflects yellow and red. Such semi-transparent sheets also strongly reflect infrared light, making them useful as infrared (radiant heat) shields in

1264-514: A short-term uptrend, and they usually sell them once this momentum starts to decrease. Stocks or securities purchased for momentum investing are often characterized by demonstrating consistently high returns for the past three to twelve months. However, in a bear market , momentum investing also involves short-selling securities of stocks that are experiencing a downward trend, because it is believed that these stocks will continue to decrease in value. Essentially, momentum investing generally relies on

1343-520: A solution of Au(OH) 3 in concentrated H 2 SO 4 produces red crystals of gold(II) sulfate , Au 2 (SO 4 ) 2 . Originally thought to be a mixed-valence compound, it has been shown to contain Au 4+ 2 cations, analogous to the better-known mercury(I) ion, Hg 2+ 2 . A gold(II) complex, the tetraxenonogold(II) cation, which contains xenon as a ligand, occurs in [AuXe 4 ](Sb 2 F 11 ) 2 . In September 2023,

1422-463: A value investor uses analysis of the financial reports of the issuer to evaluate the security. Value investors employ accounting ratios, such as earnings per share and sales growth, to identify securities trading at prices below their worth. Warren Buffett and Benjamin Graham are notable examples of value investors. Graham and Dodd's seminal work, Security Analysis , was written in the wake of

1501-470: Is Au with a half-life of 2.27 days. Gold's least stable isomer is Au with a half-life of only 7 ns. Au has three decay paths: β decay, isomeric transition , and alpha decay. No other isomer or isotope of gold has three decay paths. The possible production of gold from a more common element, such as lead , has long been a subject of human inquiry, and the ancient and medieval discipline of alchemy often focused on it; however,

1580-696: Is Au , which decays by proton emission with a half-life of 30 μs. Most of gold's radioisotopes with atomic masses below 197 decay by some combination of proton emission , α decay , and β decay . The exceptions are Au , which decays by electron capture, and Au , which decays most often by electron capture (93%) with a minor β decay path (7%). All of gold's radioisotopes with atomic masses above 197 decay by β decay. At least 32 nuclear isomers have also been characterized, ranging in atomic mass from 170 to 200. Within that range, only Au , Au , Au , Au , and Au do not have isomers. Gold's most stable isomer

1659-417: Is a chemical element with the chemical symbol Au (from Latin aurum ) and atomic number 79. In its pure form, it is a bright , slightly orange-yellow, dense, soft, malleable , and ductile metal . Chemically, gold is a transition metal , a group 11 element , and one of the noble metals . It is one of the least reactive chemical elements, being the second-lowest in the reactivity series . It

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1738-648: Is also known, an example of a mixed-valence complex . Gold does not react with oxygen at any temperature and, up to 100 °C, is resistant to attack from ozone: Au + O 2 ⟶ ( no reaction ) {\displaystyle {\ce {Au + O2 ->}}({\text{no reaction}})} Au + O 3 → t < 100 ∘ C ( no reaction ) {\displaystyle {\ce {Au{}+O3->[{} \atop {t<100^{\circ }{\text{C}}}]}}({\text{no reaction}})} Some free halogens react to form

1817-520: Is also used in infrared shielding, the production of colored glass , gold leafing , and tooth restoration . Certain gold salts are still used as anti-inflammatory agents in medicine. Gold is the most malleable of all metals. It can be drawn into a wire of single-atom width, and then stretched considerably before it breaks. Such nanowires distort via the formation, reorientation, and migration of dislocations and crystal twins without noticeable hardening. A single gram of gold can be beaten into

1896-427: Is always richer at the exposed surface of gold-bearing veins, owing to the oxidation of accompanying minerals followed by weathering; and by washing of the dust into streams and rivers, where it collects and can be welded by water action to form nuggets. Gold sometimes occurs combined with tellurium as the minerals calaverite , krennerite , nagyagite , petzite and sylvanite (see telluride minerals ), and as

1975-517: Is attributed to wind-blown dust or rivers. At 10 parts per quadrillion, the Earth's oceans would hold 15,000 tonnes of gold. These figures are three orders of magnitude less than reported in the literature prior to 1988, indicating contamination problems with the earlier data. A number of people have claimed to be able to economically recover gold from sea water , but they were either mistaken or acted in an intentional deception. Prescott Jernegan ran

2054-470: Is found in ores in rock formed from the Precambrian time onward. It most often occurs as a native metal , typically in a metal solid solution with silver (i.e. as a gold/silver alloy ). Such alloys usually have a silver content of 8–10%. Electrum is elemental gold with more than 20% silver, and is commonly known as white gold . Electrum's color runs from golden-silvery to silvery, dependent upon

2133-407: Is generated without investing capital or bearing risk. Savings bear the (normally remote) risk that the financial provider may default. Foreign currency savings also bear foreign exchange risk : if the currency of a savings account differs from the account holder's home currency, then there is the risk that the exchange rate between the two currencies will move unfavourably so that the value of

2212-472: Is most often called the oldest since this treasure is the largest and most diverse. Gold artifacts probably made their first appearance in Ancient Egypt at the very beginning of the pre-dynastic period, at the end of the fifth millennium BC and the start of the fourth, and smelting was developed during the course of the 4th millennium; gold artifacts appear in the archeology of Lower Mesopotamia during

2291-542: Is now questioned. The gold-bearing Witwatersrand rocks were laid down between 700 and 950 million years before the Vredefort impact. These gold-bearing rocks had furthermore been covered by a thick layer of Ventersdorp lavas and the Transvaal Supergroup of rocks before the meteor struck, and thus the gold did not actually arrive in the asteroid/meteorite. What the Vredefort impact achieved, however,

2370-546: Is reasonable for a telecommunications stock to show a P/E in the low teens, in the case of hi-tech stock, a P/E in the 40s range is not unusual. When making comparisons, the P/E ratio can give you a refined view of a particular stock valuation. For investors paying for each dollar of a company's earnings, the P/E ratio is a significant indicator, but the price-to-book ratio (P/B) is also a reliable indication of how much investors are willing to spend on each dollar of company assets. In

2449-427: Is red if the particles are small; larger particles of colloidal gold are blue. Gold has only one stable isotope , Au , which is also its only naturally occurring isotope, so gold is both a mononuclidic and monoisotopic element . Thirty-six radioisotopes have been synthesized, ranging in atomic mass from 169 to 205. The most stable of these is Au with a half-life of 186.1 days. The least stable

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2528-553: Is resistant to most acids, though it does dissolve in aqua regia (a mixture of nitric acid and hydrochloric acid ), forming a soluble tetrachloroaurate anion . Gold is insoluble in nitric acid alone, which dissolves silver and base metals , a property long used to refine gold and confirm the presence of gold in metallic substances, giving rise to the term ' acid test '. Gold dissolves in alkaline solutions of cyanide , which are used in mining and electroplating . Gold also dissolves in mercury , forming amalgam alloys, and as

2607-484: Is similarly unaffected by most bases. It does not react with aqueous , solid , or molten sodium or potassium hydroxide . It does however, react with sodium or potassium cyanide under alkaline conditions when oxygen is present to form soluble complexes. Common oxidation states of gold include +1 (gold(I) or aurous compounds) and +3 (gold(III) or auric compounds). Gold ions in solution are readily reduced and precipitated as metal by adding any other metal as

2686-483: Is solid under standard conditions . Gold often occurs in free elemental ( native state ), as nuggets or grains, in rocks , veins , and alluvial deposits . It occurs in a solid solution series with the native element silver (as in electrum ), naturally alloyed with other metals like copper and palladium , and mineral inclusions such as within pyrite . Less commonly, it occurs in minerals as gold compounds, often with tellurium ( gold tellurides ). Gold

2765-589: Is the soluble form of gold encountered in mining. The binary gold halides , such as AuCl , form zigzag polymeric chains, again featuring linear coordination at Au. Most drugs based on gold are Au(I) derivatives. Au(III) (referred to as auric) is a common oxidation state, and is illustrated by gold(III) chloride , Au 2 Cl 6 . The gold atom centers in Au(III) complexes, like other d compounds, are typically square planar , with chemical bonds that have both covalent and ionic character. Gold(I,III) chloride

2844-657: Is thought to have been delivered to Earth by asteroid impacts during the Late Heavy Bombardment , about 4 billion years ago. Gold which is reachable by humans has, in one case, been associated with a particular asteroid impact. The asteroid that formed Vredefort impact structure 2.020 billion years ago is often credited with seeding the Witwatersrand basin in South Africa with the richest gold deposits on earth. However, this scenario

2923-511: Is thought to have been produced in supernova nucleosynthesis , and from the collision of neutron stars , and to have been present in the dust from which the Solar System formed. Traditionally, gold in the universe is thought to have formed by the r-process (rapid neutron capture) in supernova nucleosynthesis , but more recently it has been suggested that gold and other elements heavier than iron may also be produced in quantity by

3002-416: Is unaffected by most acids. It does not react with hydrofluoric , hydrochloric , hydrobromic , hydriodic , sulfuric , or nitric acid . It does react with selenic acid , and is dissolved by aqua regia , a 1:3 mixture of nitric acid and hydrochloric acid . Nitric acid oxidizes the metal to +3 ions, but only in minute amounts, typically undetectable in the pure acid because of the chemical equilibrium of

3081-666: The Chu (state) circulated the Ying Yuan , one kind of square gold coin. In Roman metallurgy , new methods for extracting gold on a large scale were developed by introducing hydraulic mining methods, especially in Hispania from 25 BC onwards and in Dacia from 106 AD onwards. One of their largest mines was at Las Medulas in León , where seven long aqueducts enabled them to sluice most of

3160-602: The Old Testament , starting with Genesis 2:11 (at Havilah ), the story of the golden calf , and many parts of the temple including the Menorah and the golden altar. In the New Testament , it is included with the gifts of the magi in the first chapters of Matthew. The Book of Revelation 21:21 describes the city of New Jerusalem as having streets "made of pure gold, clear as crystal". Exploitation of gold in

3239-658: The Varna Necropolis near Lake Varna and the Black Sea coast, thought to be the earliest "well-dated" finding of gold artifacts in history. Several prehistoric Bulgarian finds are considered no less old – the golden treasures of Hotnitsa, Durankulak , artifacts from the Kurgan settlement of Yunatsite near Pazardzhik , the golden treasure Sakar, as well as beads and gold jewelry found in the Kurgan settlement of Provadia – Solnitsata ("salt pit"). However, Varna gold

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3318-503: The Wall Street Crash of 1929 . The price to earnings ratio (P/E), or earnings multiple, is a particularly significant and recognized fundamental ratio, with a function of dividing the share price of the stock, by its earnings per share. This will provide the value representing the sum investors are prepared to expend for each dollar of company earnings. This ratio is an important aspect, due to its capacity as measurement for

3397-624: The Wall Street crash of 1929 , and particularly by the 1950s, the term "investment" had come to denote the more conservative end of the securities spectrum, while " speculation " was applied by financial brokers and their advertising agencies to higher risk securities much in vogue at that time. Since the last half of the 20th century, the terms "speculation" and "speculator" have specifically referred to higher risk ventures. A value investor buys assets that they believe to be undervalued (and sells overvalued ones). To identify undervalued securities,

3476-470: The reducing agent . The added metal is oxidized and dissolves, allowing the gold to be displaced from solution and be recovered as a solid precipitate. Less common oxidation states of gold include −1, +2, and +5. The −1 oxidation state occurs in aurides, compounds containing the Au anion . Caesium auride (CsAu), for example, crystallizes in the caesium chloride motif; rubidium, potassium, and tetramethylammonium aurides are also known. Gold has

3555-411: The cash a company generates which is available to its debt and equity investors, after allowing for reinvestment in working capital and capital expenditure . High and rising free cash flow, therefore, tend to make a company more attractive to investors. The debt-to-equity ratio is an indicator of capital structure . A high proportion of debt , reflected in a high debt-to-equity ratio, tends to make

3634-423: The comparison of valuations of various companies. A stock with a lower P/E ratio will cost less per share than one with a higher P/E, taking into account the same level of financial performance; therefore, it essentially means a low P/E is the preferred option. An instance in which the price to earnings ratio has a lesser significance is when companies in different industries are compared. For example, although it

3713-404: The complex demands within pharmacology as the average prescription drug takes 10 years and US$ 2.5 billion worth of capital. In the medieval Islamic world , the qirad was a major financial instrument. This was an arrangement between one or more investors and an agent where the investors entrusted capital to an agent who then traded with it in hopes of making a profit. Both parties then received

3792-1409: The corresponding gold halides. Gold is strongly attacked by fluorine at dull-red heat to form gold(III) fluoride AuF 3 . Powdered gold reacts with chlorine at 180 °C to form gold(III) chloride AuCl 3 . Gold reacts with bromine at 140 °C to form a combination of gold(III) bromide AuBr 3 and gold(I) bromide AuBr, but reacts very slowly with iodine to form gold(I) iodide AuI: 2 Au + 3 F 2 → Δ 2 AuF 3 {\displaystyle {\ce {2Au{}+3F2->[{} \atop \Delta ]2AuF3}}} 2 Au + 3 Cl 2 → Δ 2 AuCl 3 {\displaystyle {\ce {2Au{}+3Cl2->[{} \atop \Delta ]2AuCl3}}} 2 Au + 2 Br 2 → Δ AuBr 3 + AuBr {\displaystyle {\ce {2Au{}+2Br2->[{} \atop \Delta ]AuBr3{}+AuBr}}} 2 Au + I 2 → Δ 2 AuI {\displaystyle {\ce {2Au{}+I2->[{} \atop \Delta ]2AuI}}} Gold does not react with sulfur directly, but gold(III) sulfide can be made by passing hydrogen sulfide through

3871-424: The densest element, osmium , is 22.588 ± 0.015 g/cm . Whereas most metals are gray or silvery white, gold is slightly reddish-yellow. This color is determined by the frequency of plasma oscillations among the metal's valence electrons, in the ultraviolet range for most metals but in the visible range for gold due to relativistic effects affecting the orbitals around gold atoms. Similar effects impart

3950-689: The early 4th millennium. As of 1990, gold artifacts found at the Wadi Qana cave cemetery of the 4th millennium BC in West Bank were the earliest from the Levant. Gold artifacts such as the golden hats and the Nebra disk appeared in Central Europe from the 2nd millennium BC Bronze Age . The oldest known map of a gold mine was drawn in the 19th Dynasty of Ancient Egypt (1320–1200 BC), whereas

4029-479: The existence and strength of trends. Dollar cost averaging (DCA), also known in the UK as pound-cost averaging, is the process of consistently investing a certain amount of money across regular increments of time, and the method can be used in conjunction with value investing, growth investing, momentum investing, or other strategies. For example, an investor who practices dollar-cost averaging could choose to invest $ 200

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4108-496: The first century AD. Investment Investment is traditionally defined as the "commitment of resources to achieve later benefits". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broader viewpoint, an investment can be defined as "to tailor the pattern of expenditure and receipt of resources to optimise the desirable patterns of these flows". When expenditures and receipts are defined in terms of money, then

4187-591: The first written reference to gold was recorded in the 12th Dynasty around 1900 BC. Egyptian hieroglyphs from as early as 2600 BC describe gold, which King Tushratta of the Mitanni claimed was "more plentiful than dirt" in Egypt. Egypt and especially Nubia had the resources to make them major gold-producing areas for much of history. One of the earliest known maps, known as the Turin Papyrus Map , shows

4266-423: The future. To identify such stocks , growth investors often evaluate measures of current stock value as well as predictions of future financial performance. Growth investors seek profits through capital appreciation – the gains earned when a stock is sold at a higher price than what it was purchased for. The price-to-earnings (P/E) multiple is also used for this type of investment; growth stock are likely to have

4345-403: The gold acts simply as a solute, this is not a chemical reaction . A relatively rare element, gold is a precious metal that has been used for coinage , jewelry , and other works of art throughout recorded history . In the past, a gold standard was often implemented as a monetary policy . Gold coins ceased to be minted as a circulating currency in the 1930s, and the world gold standard

4424-563: The highest electron affinity of any metal, at 222.8 kJ/mol, making Au a stable species, analogous to the halides . Gold also has a –1 oxidation state in covalent complexes with the group 4 transition metals, such as in titanium tetraauride and the analogous zirconium and hafnium compounds. These chemicals are expected to form gold-bridged dimers in a manner similar to titanium(IV) hydride . Gold(II) compounds are usually diamagnetic with Au–Au bonds such as [ Au(CH 2 ) 2 P(C 6 H 5 ) 2 ] 2 Cl 2 . The evaporation of

4503-555: The method in 1950 by introducing his mutual fund , the T. Rowe Price Growth Stock Fund. Price asserted that investors could reap high returns by "investing in companies that are well-managed in fertile fields." A new form of investing that seems to have caught the attention of investors is Venture Capital. Venture Capital is independently managed dedicated pools of capital that focus on equity or equity-linked investments in privately held, high growth companies. Momentum investors generally seek to buy stocks that are currently experiencing

4582-547: The mineral quartz, and gold out of the fluids and onto nearby surfaces. The world's oceans contain gold. Measured concentrations of gold in the Atlantic and Northeast Pacific are 50–150 femtomol /L or 10–30 parts per quadrillion (about 10–30 g/km ). In general, gold concentrations for south Atlantic and central Pacific samples are the same (~50 femtomol/L) but less certain. Mediterranean deep waters contain slightly higher concentrations of gold (100–150 femtomol/L), which

4661-681: The net monetary receipt in a time period is termed cash flow , while money received in a series of several time periods is termed cash flow stream. In finance , the purpose of investing is to generate a return on the invested asset . The return may consist of a capital gain (profit) or loss, realised if the investment is sold, unrealised capital appreciation (or depreciation) if yet unsold. It may also consist of periodic income such as dividends , interest , or rental income. The return may also include currency gains or losses due to changes in foreign currency exchange rates . Investors generally expect higher returns from riskier investments. When

4740-411: The noble metals, it still forms many diverse compounds. The oxidation state of gold in its compounds ranges from −1 to +5, but Au(I) and Au(III) dominate its chemistry. Au(I), referred to as the aurous ion, is the most common oxidation state with soft ligands such as thioethers , thiolates , and organophosphines . Au(I) compounds are typically linear. A good example is Au(CN) − 2 , which

4819-576: The plan of a gold mine in Nubia together with indications of the local geology . The primitive working methods are described by both Strabo and Diodorus Siculus , and included fire-setting . Large mines were also present across the Red Sea in what is now Saudi Arabia . Gold is mentioned in the Amarna letters numbered 19 and 26 from around the 14th century BC. Gold is mentioned frequently in

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4898-524: The principle that a consistently up-trending stock will continue to grow, while a consistently down-trending stock will continue to fall. Economists and financial analysts have not reached a consensus on the effectiveness of using the momentum investing strategy. Rather than evaluating a company's operational performance, momentum investors instead utilize trend lines, moving averages, and the Average Directional Index (ADX) to determine

4977-546: The process of the P/B ratio, the share price of a stock is divided by its net assets; any intangibles, such as goodwill, are not taken into account. It is a crucial factor of the price-to-book ratio, due to it indicating the actual payment for tangible assets and not the more difficult valuation of intangibles. Accordingly, the P/B could be considered a comparatively conservative metric. Growth investors seek investments they believe are likely to have higher earnings or greater value in

5056-464: The project. The earliest recorded metal employed by humans appears to be gold, which can be found free or " native ". Small amounts of natural gold have been found in Spanish caves used during the late Paleolithic period, c.  40,000 BC . The oldest gold artifacts in the world are from Bulgaria and are dating back to the 5th millennium BC (4,600 BC to 4,200 BC), such as those found in

5135-471: The purchase of more shares when their price is lower, and less shares when the price is higher. However, dollar-cost averaging is also generally characterized by more brokerage fees, which could decrease an investor's overall returns. The term "dollar-cost averaging" is believed to have first been coined in 1949 by economist and author Benjamin Graham in his book, The Intelligent Investor . Graham asserted that investors that use DCA are "likely to end up with

5214-690: The r-process in the collision of neutron stars . In both cases, satellite spectrometers at first only indirectly detected the resulting gold. However, in August 2017, the spectroscopic signatures of heavy elements, including gold, were observed by electromagnetic observatories in the GW170817 neutron star merger event, after gravitational wave detectors confirmed the event as a neutron star merger. Current astrophysical models suggest that this single neutron star merger event generated between 3 and 13 Earth masses of gold. This amount, along with estimations of

5293-620: The rare bismuthide maldonite ( Au 2 Bi ) and antimonide aurostibite ( AuSb 2 ). Gold also occurs in rare alloys with copper , lead , and mercury : the minerals auricupride ( Cu 3 Au ), novodneprite ( AuPb 3 ) and weishanite ( (Au,Ag) 3 Hg 2 ). A 2004 research paper suggests that microbes can sometimes play an important role in forming gold deposits, transporting and precipitating gold to form grains and nuggets that collect in alluvial deposits. A 2013 study has claimed water in faults vaporizes during an earthquake, depositing gold. When an earthquake strikes, it moves along

5372-420: The rate of occurrence of these neutron star merger events, suggests that such mergers may produce enough gold to account for most of the abundance of this element in the universe. Because the Earth was molten when it was formed , almost all of the gold present in the early Earth probably sank into the planetary core . Therefore, as hypothesized in one model, most of the gold in the Earth's crust and mantle

5451-935: The reaction. However, the ions are removed from the equilibrium by hydrochloric acid, forming AuCl − 4 ions, or chloroauric acid , thereby enabling further oxidation: 2 Au + 6 H 2 SeO 4 → 200 ∘ C Au 2 ( SeO 4 ) 3 + 3 H 2 SeO 3 + 3 H 2 O {\displaystyle {\ce {2Au{}+6H2SeO4->[{} \atop {200^{\circ }{\text{C}}}]Au2(SeO4)3{}+3H2SeO3{}+3H2O}}} Au + 4 HCl + HNO 3 ⟶ HAuCl 4 + NO ↑ + 2 H 2 O {\displaystyle {\ce {Au{}+4HCl{}+HNO3->HAuCl4{}+NO\uparrow +2H2O}}} Gold

5530-473: The rest of the gold on Earth is thought to have been incorporated into the planet since its very beginning, as planetesimals formed the mantle . In 2017, an international group of scientists established that gold "came to the Earth's surface from the deepest regions of our planet", the mantle, as evidenced by their findings at Deseado Massif in the Argentinian Patagonia . On Earth, gold

5609-486: The same result and showing that the isotopes of gold produced by it were all radioactive . In 1980, Glenn Seaborg transmuted several thousand atoms of bismuth into gold at the Lawrence Berkeley Laboratory. Gold can be manufactured in a nuclear reactor, but doing so is highly impractical and would cost far more than the value of the gold that is produced. Although gold is the most noble of

5688-421: The savings account decreases, measured in the account holder's home currency. Even investing in tangible assets like property has its risk. And similar to most risks, property buyers can seek to mitigate any potential risk by taking out mortgage and by borrowing at a lower loan to security ratio. In contrast with savings, investments tend to carry more risk, in the form of both a wider variety of risk factors and

5767-486: The silver content. The more silver, the lower the specific gravity . Native gold occurs as very small to microscopic particles embedded in rock, often together with quartz or sulfide minerals such as " fool's gold ", which is a pyrite . These are called lode deposits. The metal in a native state is also found in the form of free flakes, grains or larger nuggets that have been eroded from rocks and end up in alluvial deposits called placer deposits . Such free gold

5846-450: The south-east corner of the Black Sea is said to date from the time of Midas , and this gold was important in the establishment of what is probably the world's earliest coinage in Lydia around 610 BC. The legend of the golden fleece dating from eighth century BCE may refer to the use of fleeces to trap gold dust from placer deposits in the ancient world. From the 6th or 5th century BC,

5925-436: The tendency of gold ions to interact at distances that are too long to be a conventional Au–Au bond but shorter than van der Waals bonding . The interaction is estimated to be comparable in strength to that of a hydrogen bond . Well-defined cluster compounds are numerous. In some cases, gold has a fractional oxidation state. A representative example is the octahedral species {Au( P(C 6 H 5 ) 3 )} 2+ 6 . Gold

6004-403: The transmutation of the chemical elements did not become possible until the understanding of nuclear physics in the 20th century. The first synthesis of gold was conducted by Japanese physicist Hantaro Nagaoka , who synthesized gold from mercury in 1924 by neutron bombardment. An American team, working without knowledge of Nagaoka's prior study, conducted the same experiment in 1941, achieving

6083-417: The visors of heat-resistant suits and in sun visors for spacesuits . Gold is a good conductor of heat and electricity . Gold has a density of 19.3 g/cm , almost identical to that of tungsten at 19.25 g/cm ; as such, tungsten has been used in the counterfeiting of gold bars , such as by plating a tungsten bar with gold. By comparison, the density of lead is 11.34 g/cm , and that of

6162-787: Was abandoned for a fiat currency system after the Nixon shock measures of 1971. In 2020, the world's largest gold producer was China, followed by Russia and Australia. As of 2020 , a total of around 201,296 tonnes of gold exist above ground. This is equal to a cube, with each side measuring roughly 21.7 meters (71 ft). The world's consumption of new gold produced is about 50% in jewelry, 40% in investments , and 10% in industry . Gold's high malleability, ductility, resistance to corrosion and most other chemical reactions, as well as conductivity of electricity have led to its continued use in corrosion-resistant electrical connectors in all types of computerized devices (its chief industrial use). Gold

6241-621: Was to distort the Witwatersrand basin in such a way that the gold-bearing rocks were brought to the present erosion surface in Johannesburg , on the Witwatersrand , just inside the rim of the original 300 km (190 mi) diameter crater caused by the meteor strike. The discovery of the deposit in 1886 launched the Witwatersrand Gold Rush . Some 22% of all the gold that is ascertained to exist today on Earth has been extracted from these Witwatersrand rocks. Much of

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