Gold

$0.0
%999.9 Pure

Gold Industry Overview

Gold has been treasured throughout history for its beauty, durability, and rarity, serving as a symbol of wealth, power, and divine authority. Its use spans various aspects of civilization, from ancient artifacts and jewelry to modern investments and industrial applications.

Historical Significance of Gold

Ancient Civilizations

  • Evidence of gold use dates back to around 4000 BC, with early artifacts found in Bulgaria.
  • In Ancient Egypt (c. 3100 BC), gold was used in jewelry, burial items, and as a symbol of wealth and power.

Classical Antiquity

  • The Lydians introduced gold coinage (~600 BC)
  • Gold symbolized divine authority and social status

Global Gold Production

Annual Global Output

Approximately 3,500 metric tons of gold are produced annually.

Top Producing Countries

  • China: 370 tons
  • Russia: 330 tons
  • Australia: 320 tons
  • United States: 180 tons
  • Canada: 170 tons

Gold Usage by Sector

Annual Consumption

  • Jewelry: 2,100 tons (48%)
  • Investment (bars/coins): 1,000 tons (23%)
  • Technology (electronics, medical): 350 tons (8%)
  • Central Banks (reserves): 400 tons (8%)
  • Cultural/industrial uses: 150 tons (3%)

Central Bank Gold Reserves

Top Gold-Holding Countries

  • United States: 8,133 tons (78% of reserves in gold)
  • Germany: 3,362 tons (74%)
  • Italy: 2,451 tons (71%)
  • Russia: 2,299 tons (23%)
  • China: 2,113 tons (3%)
  • India: 760 tons (6%)

Gold Prices and Market Trends

Price Trends

  • Average price (2023): ~$1,900 per ounce
  • All-time high: $2,067 per ounce (2020, during the COVID-19 pandemic)

Factors Influencing Prices

  • Inflation Hedge: Gold prices rise during inflationary periods
  • Monetary Policy: Low-interest rates typically boost gold prices
  • Geopolitical Instability: Prices increase in response to global tensions