Price of Gold

On and within the Earth’s crust, there is between 2,500 and 165,000 metric tons of gold, which converts to nearly ten trillion US dollars at 2009 rates. A year’s worth of twenty-four karat gold would fit within a twenty by thirty by eight foot room–unbelievable if you consider the amount of work it takes to mine such a huge amount of gold.

Three nations consume the most gold. India consumes 745.7 metric tons of gold, China consumes 428 metric tons of gold, and the United States consumes 128.61 metric tons of gold as of 2009. China, the United States, and Australia produce the top three amounts of gold worldwide.

After the Exchange-Traded Funds and the International Monetary Fund, the United States, Germany and Italy along with France hold the most gold within their central banks.

You can clearly see that gold is a rare, highly valued, and fascinating metallic element that many people value.