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Certain theories related to the formation of the planet state heavy iron sank to the middle of the earth’s core during the formation of the planet and it took other elements along where gold remained near the surface. Some other research state gold would have been 10 times common if it was present at the time of formation of the planet and so, it must have arrived later after the formation of the planet from the outer space. Currently, 85 per cent of the gold is in circulation and it accounts for a small part of the crust but it is not economically feasible to extract it from the core.
Investors are targeting a gold price per ounce UK record high of $2000 in the next few years; although, now the rate is still under $1500 and its market continues to pick due to short-term sentiment shifts.
Theories about its origin
• The study by the researchers at the University of Bristol found, on the examination of oldest rocks on earth, that precious metal can be found in the outer layers of the earth. The test on a rock from Greenland found the metal tungsten was present in the rock, which is a rare metal. Researchers believe tungsten and its isotopes must be present in the core. The outer layer has a lot of precious metal, which can be found on the entire surface of the earth within the four-meter thickness and it is also believed that such rare metals can be found in abundance in the earth’s silicate mantle.
• The theory of earth’s formation during the supernovae and neutron star collision has been made where it is believed that the yellow metal must have been formed from the r-process.
• There are concepts of processes like nuclear fission or fusion or radioactive decaying, which could have resulted in the formation of the metal.
One theory state the presence of such precious metals in the outer layer could be attributed to a meteorite shower, which hit the earth once its core was formed. The yellow metal is not formed through the process of decomposition or heavy temperature. It is not like a diamond or gems. Most scientists believe it came from outside and stuck the planet some billions of years ago. Hence, a diamond can be artificially made by using high temperature and pressure but gold cannot be produced in the laboratory. Several previous attempts to convert a lead into gold have failed because no chemical reaction can change one element into another. The yellow metal provides a hedge against market risks and is preferred by investors for long term investment but the gold price per ounce UK is becoming an important factor.
The Nature GeoScience report claims the veins of gold can be formed in seconds. It is the process which takes place along the faults where fluids circulate along the faults at the time of the earthquake. It can be formed from the high-pressure water where gold is trapped in quartz or granite dissolves and vaporizes during an earthquake.
Many asset managers are worried of volatility in prices due to sentiment shift, although, the investment uncertainty in the market is not expected to go away soon as the interest rates may remain low amidst geopolitical instability and trade tensions.
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