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Gold can be stretched into a wire that can reach 50 miles. Its value has remained stable over time, but Spain’s excessive use of gold caused its decline. 70% of gold is used for jewelry, 13% for coins, and the rest for various purposes.
The properties of gold allow the metal to be stretched a much longer distance than many people realize. Under the right conditions, a single Troy ounce (31 g) of gold can be stretched into a wire that will stretch 50 miles (80.5 km).
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For most of the 19th and 20th centuries, the value of gold remained fairly stable, fluctuating by only a small percentage. The price of gold has remained more or less constant through a series of wars, economic recessions and other events which tend to affect the value of other precious metals.
Gold has led to the decline of a nation. In the 15th and 16th centuries, Spain seized huge amounts of gold from the Americas, using a significant amount of gold and silver to buy imported goods rather than improve the nation’s infrastructure. The result has been an increase in the cost of imported goods and services while the value of gold has decreased significantly.
About 70 percent of gold production goes into jewelry making. Conversely, 13% is used to manufacture coins for use as legal tender. The remainder is used for a variety of purposes, including creating gold fillings used in dentistry.
