How would gold from Uranus affect gold prices on earth?
How much gold could be mined?
Would Gold become a precious metals more common in use than copper?
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M$2 Answers
Gold is used mainly in jewelery while copper is used mainly in electrical wiring due to its conductivity.
Copper is much more common in use than gold and an increase in gold supply won't change this as gold has few uses.
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M$
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M$
Actually, gold has quite a few more uses than just for jewelry. Gold is only slightly less conductive than copper is. However, gold's resistance to corrosion and its electro-chemical compatiblity to copper makes it a great metal to plate copper that's used in electronics and electrical applications.
Even tho gold is not longer the currency standard of the world, it is still in use as a form of currency.
It's also used heavily as a form of investment. Of course established gold investors would not be likely to want copious supplies of the yellow metal to suddenly flood the market.
Gold is used in medicince, dentistry, and nutrition.
It's used as a coloring agent. Photographers use it. Its sometimes used as a reflective coating on cds. It can be used on aircraft as a thin, transparent, conductive sheet to de-ice windows. It's also used in chemistry.
If gold were to suddenly become cheaper and more common than copper, then it would perhaps replace copper in many applications. It would also make many other things that gold is used for much cheaper.
Are there any scarce commodities over time? In other words does scarity drive supply?
The price will not fall from that because it will cost more than a few thousand dollars an ounce to mine it and get it here.
If we could mine asteroids for minerals would precious metals become a common commodity?