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c. 3600 BC
First smelting of gold
Egyptian goldsmiths carry out the first melting or
fusing of ores in order to separate the metals inside.
They use blowpipes made from fire-resistant clay
to heat the smelting furnace.
2600 BC
Early gold jewellery
Goldsmiths of ancient Mesopotamia (modern-day Iraq)
craft one of the earliest pieces of gold jewellery, a burial
headdress of lapis and carnelian beads with willow
leaf-shaped gold pendants.Image © Trustees of The British Museum
1200-1500 BC
Advances in jewellery making
Artisans develop the lost-wax jewellery casting technique.
The process allows for improved hardness and colour variation
which in turn broadens the market for gold products.
1223 BC
Creation of Tutankhamun's funeral mask
Instantly recognised the world over, the funeral mask of
Tutankhamun is a triumph of gold craftsmanship
from the ancient world.
950 BC
Solomon builds gold temple
The Queen of Sheba from Yemen presents King Solomon
of Israel with 2,500 kilos of gold, bringing the contents of his
treasury to 5,700 kilos. Solomon uses part of his holdings to
construct his famed temple, allegedly overlaid with gold.© Nir Levy
600 BC
First gold dentistry practiced
The first use of gold in dentistry as the Etruscans begin
securing substitute teeth with gold wire. Bio-compatibility,
malleability and corrosion resistance still make gold
valuable in dental applications.
564 BC
First international gold currency created
King Croesus develops improved gold refining techniques,
permitting him to mint the world's first standardised
gold currency. Their uniform gold content allows 'Croesids'
to become universally recognised and traded with confidence.
300
First gold nanoparticles
The Romans use gold to colour the Lycurgus Cup. Melting gold
powder into glass diffuses gold nanoparticles throughout which
then refract light, giving the glass a luminous red glow.Image © Trustees of The British Museum
1300
Hallmarking practice established
The world's first hallmarking system, scrutinising
and guaranteeing the quality of precious metal, is
established at Goldsmith's Hall in London -
where London's Assay Office is still located today.Image © The Assay office, Birmingham
1370
The Great Bullion Famine begins
During the years 1370-1420, various major mines around
Europe become completely exhausted. Mining and production
of gold declines sharply throughout the region in a period
known as 'The Great Bullion Famine'.
1422
Venice's record year
The Venice Mint strikes a record 1.2 million gold ducats
using 4.26 metric tonnes of gold from Africa and
Central Asia. These small coins prove popular as they are
easy to mint and carry plenty of value.
1511
Ferdinand unleashes invasion force
King Ferdinand of Spain proclaims "Get gold, humanely if
you can, but at all hazards, get gold!", launching unprecedented
expeditions to the Americas. Within years, the Inca
and Aztec civilisations would be virtually destroyed
by Spanish conquerors.
1717
UK gold standard commences
Britain moves onto a de facto pure gold standard, as
the government links the currency to gold at
a fixed rate (establishing a mint price of 77 shillings,
ten and a half pennies per ounce of gold).
1803
First gold electroplating practiced
The first recorded experiment in electroplating is carried out
by Professor Luigi Brugnatelli at the University of Pavia.
Gold electroplating ensures improved conductivity,
now essential to many 21st century technologies.
1848
California Gold Rush begins
John Marshall discovers gold flakes while building a sawmill
near Sacramento, California. The greatest gold rush of all time
follows as 40,000 diggers flock to California from
around the World.
1885
South African Gold Rush begins
While digging up stones to build a house, Australian miner
George Harrison finds gold ore on Langlaagte farm near
Johannesburg. Miners flock to the region. South Africa
will go on to become the source of 40% of the world's gold.Image © Terry Davis
1885
First Faberge Easter egg crafted
Carl Faberge makes his first gold Imperial Easter Egg for
Tsar Alexander III. Named The Hen Egg, it was commissioned
as a gift from the Tsar to his wife, the Empress Maria
Fedorovna, beginning a tradition that lasts until 1917.
1870-1900
Adoption of gold standard
All major countries other than China switch to the gold
standard, linking their currencies to gold. The practice of
bimetallism is abandoned.
1925
Gold standard returns
The UK returns to the gold standard at pre-war parity
of $4.86=£1 with sterling convertible to gold
at 77sh 10.5d per standard ounce.
This follows the country's departure from the gold standard
six years previously at the outbreak of World War I.
1933
Roosevelt suspends gold
President Roosevelt suspends US dollar convertibility to gold (
gold at US$20.67/oz). The export of all transactions in, and
the holding of gold by private individuals, is forbidden.
Presidential proclamation makes the dollar convertible
again in January 1934 at a new price of $35 per troy ounce.
1939
World War II closes gold market
The London gold market is closed on the outbreak of war,
as at the beginning of World War II. The world will later return
to a fixed system of exchange rates, this time with currencies
fixed to the dollar and the dollar convertible into gold.
1944
Bretton Woods conference
The Bretton Woods conference sets the basis of the post-war
monetary system. The US dollar is set to maintain a $35=1 oz
gold conversion rate. Other currencies are fixed in
terms of US dollar, thus forming a Gold Exchange Standard.
1961
First gold bonded microchips
Gold bonding wire is used in microchips engineered at
Bell Labs in the USA. Nowadays literally billions
of chips are bonded this way every year, controlling all
manner of indispensible electrical devices.
1961
First gold in space
The first manned space flight uses gold to protect sensitive
nstruments from radiation. In 1980, 41kgs of gold is included in
space shuttle construction through brazing alloys, fuel cell
fabrication and electrical contacts.
1967
First South African Krugerrand
The Krugerrand is introduced in 1967, as a vehicle for private
ownership of gold. This iconic coin is actually
intended for circulation as currency.
1971
Gold window closed
The Bretton Woods system of fixed exchange rates comes to
an end as President Nixon "closes the gold window",
suspending US dollar convertibility to gold. The world
enters its present day system of floating exchange rates.
1985
First gold-based arthritis treatment
Pharmaceutical giant, SmithKline & French, develops Auranofin,
a gold-based drug for the treatment of rheumatoid arthritis.
The drug receives regulatory approval and goes on sale for the
first time.
1999
First Central Bank Gold Agreement
The First Central Bank Gold Agreement (CBGA) is agreed. 15
European central banks declare that gold will remain an
important element of their reserves and collectively cap gold
sales at 400 tonnes per year over next five years.
2001
First gold used in heart surgery
Boston Scientific markets the first gold-plated stent (Niroyal)
used in heart surgery. Inserted inside large arteries and veins,
such stents act like scaffolding, propping open the blood vessels
to allow adequate flow.Image © Richard Lee
2003
K-gold launched in China
The World Gold Council creates an entirely new market
segment with the launch of K-gold, the first 18k jewellery in China.
The jewellery, in predominantly white and yellow gold,
takes its inspiration from Italian design.
2004
Launch of SPDR® Gold Shares
The market is transformed by an innovative, secure and
easy way to access the gold market. Six years later
SPDR® exceeds $55bn in assets under management.
2009
Central banks return to buying
In the second quarter of the year, central banks
collectively become net purchasers of gold for the first
time in two decades. This reflects a combination of
slowing sales from European banks and growing
purchases by emerging market countries.Image © National Geographic
2010
Gold price sustains record highs
Fiat currencies are undermined by inflation fears
and successive financial crises. The London pm fix
achieves 35 separate successive highs in the year to date.
2011
Gold in catalytic converters
Gold used in catalytic convertors by a leading European diesel
car manufacturer. The first use of gold in automotive
emissions control.Taken From :
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