What is gold used for, other than bullion?

What is gold used for? Not much. That is to say, it doesn’t have a lot of industrial uses.

While small quantities of gold are used in the electronics and high-tech industries, most of its uses are the same today as they have been for millennia.

In other words, gold is primarily used as a way to store wealth, or for jewelry.

When used for jewelry, gold serves a double purpose – being used to make an item of beauty, and as a store of wealth. In many cultures around the world, gold jewelry was and still is worn as a sign of wealth.

The fact that gold isn’t used in great quantities by industry is significant.

Other precious metals, like silver and platinum are used extensively in the production of numerous products. As a result their price is influenced by factors beyond their value as “money”.

In the case of gold, it really is money. There is no other reason to collect it or hoard it.

This is why central banks still hold large quantities of gold in their vaults.

Outside of the fluctuating values of paper currency, the gold stays in place. Its price on the market may go up and down. But that price is focused on its value as money, and is not influenced by a sudden change in demand from some manufacturing sector.

That fact that gold is used for nothing except the possession of its value is what makes it unique.

The answer to question is, and always had been, gold is used for storing wealth.