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Do you know where does the word Gold comes from, and what percentage of Gold is used in jewellery? If not, read some interesting tit-bits on Gold here.

This is reflected in the similarities of the word gold in various languages: Gold (English), Gold(German), Guld (Danish), Gulden (Dutch), Goud (Afrikaans), Gull (Norwegian) and Kulta (Finnish).

Around 70% of gold demand is jewellery, 11% is industrial (dental, electronics) and 13% is investment (institutional and individual, bars & coins). Gold jewellery has strong "investment" attributes in all countries, and in markets such as India and Middle East is sold by weight at the prevailing daily rate with a supplementary "making charge" which varies according to the complexity of the piece. Jewellery is not used as currency in any market.

Gold is mined on every continent, barring Antarctica.

If we take national gold reserves, then most gold is owned by the USA followed by Germany and the IMF. If we include jewellery ownership, then India is the largest repository of gold in terms of total gold within the national boundaries. In terms of personal ownership, it is not known who owns the most, but is possibly a member of a ruling royal family in the East.

Gold production is increasingly shifting to developing countries. If South Africa, whose production is on a long-term declining trend, is excluded, their output rose by more than 50% over the past decade. In contrast output from developed countries has fallen.

Gold is the leading export for Mali (59% of goods exports), Tanzania (44%), Ghana (32%), Guyana (26%) and the second most important for Guinea (23%).

Zdroj: Commoditynline.com

09.04.2008

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value."   Alan Greenspan