The mineral commonly referred to as "fool's gold" is pyrite. Pyrite has a metallic luster and a yellow-gold hue that can easily be mistaken for real gold, hence the nickname. It is composed of iron sulfide and is abundant in nature, often found in sedimentary and metamorphic rocks. While pyrite is not valuable like gold, it has important industrial uses, including in the production of sulfuric acid and in some applications within the electronics industry. Its resemblance to gold has led many untrained prospectors to make costly mistakes in the pursuit of wealth.