Gold prices reached a record high price of $1,917.90 on August 23, 2011. On April 15, 2013, the price of gold fell by a record $145 in a single day for a 9% loss.
As of March 2015, most gold is used in jewelry. Gold has a superior electrical conductivity and resistance to corrosion, and is used in computers, spacecraft and jet aircraft engines because of these properties.
Miners choose favorable areas based on geology and mining records. Panning is the simplest method of separating gold from the silt, sand and gravel of stream deposits. Modern gold mining operations use sophisticated machinery capable of running large amounts of low-grade ore to extract gold.