Is Gold Magnetic?

A magnet next to three gold bars.

Is gold attractive to magnets?  

Can you use a magnet to find gold hidden at the beach or in your clutter drawer? 

Gold Will Not Attract a Magnet

For gold to be attracted to magnetic fields, or ferromagnetic, it would need unpaired electrons, creating a magnetic dipole. The dipole is what causes magnetic attraction.  

Gold is diamagnetic like silver. Diamagnetic materials have a net magnetic force that opposes the polar direction of a magnetized field.  

What this means is that magnetic fields slightly repel diamagnetic materials. Have you ever wondered why, some metals are attracted to magnets and others are not? 

What Makes Gold Diamagnetic?

Gold atoms have 71 electrons, which means gold atoms will always have one unpaired electron. Materials with an odd number of electrons in their atomic structure are diamagnetic.  

To figure out if a particle is paramagnetic (or weakly attracted to magnetic fields) or diamagnetic. If a particle’s electrons are all paired, then it is paramagnetic. If there are unpaired electrons, it is diamagnetic.  

Diamagnetism was discovered in 1778 when Anton Brugmans noticed that magnetic fields repelled bismuth. Properties like diamagnetism are present in all materials, but other magnetic forces, like ferromagnetism, overpower them in many materials. 

Quick Guides to Investing

Step 1:

Why Buy Physical Gold and Silver?

If you are concerned about the volatility of the stock market, you’re not alone. The extreme highs and lows of the stock market often lead investors towards safe-haven assets, like bullion. Historically, the Precious Metals market has an inverse relationship with the stock market, meaning that when stocks are up, bullion is down and vice versa.

Step 2:

How Much Gold and Silver Should You Have?

This question is one of the most important for investors to answer. After all, experts suggest limits on how much of any types of investments should go into a portfolio. After deciding to purchase and own Precious Metals and considering how much money to allocate, one can then think about how much and what to buy at any point in time.

Step 3:

Which Precious Metals Should I Buy?

With the frequent changes in the market and countless Precious Metal products available, choosing investments can be difficult. Some want Gold or Silver coins, rounds or bars while others want products that are valuable because of their design, mintage or other collectible qualities. Also, collectors may shop for unique sets and individual pieces for their collections.

Step 4:

When to Buy Gold & Silver

After considering why, how much, and what Precious Metals products to buy, an investor’s next step is when to buy them. This decision requires an understanding of market trends and the impact of economic factors on precious metal prices.

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