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BLS – Gold prices during and after the Great Recession

Brian Hergt, Producer Price Index Program: “Gold, a highly valuable precious metal, has many practical uses that span multiple industries. Historically, one of the primary uses of gold has been to make ornamental objects, such as jewelry. Malleability is one of gold’s special properties, allowing it to be hammered into sheets, drawn into wires, and cast into different shapes. In addition to jewelry, gold is used to manufacture many products that we use in our everyday lives, especially electronics. This is because gold is an efficient conductor of electricity, and electronic components made with gold tend to be very reliable. Televisions, cell phones, calculators, Global Positioning System (GPS) devices, and computers are examples of products produced with small amounts of gold. Gold is widely used in other areas, as well, such as the medical, aerospace, and glassmaking industries.”

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