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What element is mostly used in magnets, gold or cobalt?
Neither really. Iron, since it is naturally magnetic, is often used in most magnets. Gold is ... nickel Iron, nickel, cobalt, rare earth elements, their alloys.
Magnet : It is defined as a type of material which produces the magnetic field. Or we can say that a material that has the property of attracting an iron piece and producing the magnetic field.
The elements iron, cobalt and nickel are usually used in the making of magnets.
Hence, the element used to make magnets is, Cobalt.
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