15 Fascinating Facts About Gold
- Gold is a rare precious metal, characterised by its reddish-yellow colouring. It is found in ores in rock in the earth’s crust and mantle, and in the world’s oceans.
- It’s impossible to fully destroy gold. This means that all gold that has ever been mined still exists, even though it may take a different form through recycling.
- Gold has an exceptionally high melting temperature of 1064 degrees celsius. The boiling point of gold is even higher, coming to the boil at 2808 degrees celsius.
- Most gold comes from China, although significant percentages of the precious metal are also mined in Australia, Russia, the United States, and Canada.
- Around three quarters of global demand for gold is met through newly mined materials. However, recycled gold makes up the additional 25% of demand.
- It is believed that the total weight of gold mined stands at around 190,000 tonnes. The majority has been mined relatively recently, from 1950 onwards.
- If all 190,000 tonnes of mined gold to date was placed together inside a container, it would fit in a remarkably compact space of just 21 metres cubed.
- The weight of mined gold is growing at a notable rate. It is estimated that between 2500 and 3000 tonnes of gold are mined each and every year.
- Gold mining isn’t simple. It can actually take as long as 20 years (sometimes as little as 10) for a gold mine to produce materials that are ready to be refined.
- Around 60 to 70% of gold comes from open-pit, strip mining, and other surface facilities. The rest is mined through shafts and tunnels in underground mines.
- Gold production has been on the rise for decades with volume tripling each year since the 1970s. Demand for gold has also increased significantly during this time.
- Most gold is refined and turned into jewellery. In fact, demand is greatest within the jewellery sector, with roughly half of all gold bought by the industry.
- Demand for gold varies by region, with India and China considered to be the latest markets. Together, these two countries account for 50% of gold demand.
- Gold isn’t just used within the jewellery industry. There are many alternative uses for gold, which is used in medicine, engineering, aerospace, and electronics.
- The trusted standard that is used today was created by the Bank of England in 1750. The London Good Delivery List is a set of rules for optimal gold refinement.
All rights reserved Copyright © 2019 The Gold Safe Limited, 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
The Gold Safe Limited is a company registered in England and Wales with company number: 11994725 and is a wholly owned subsidiary of The United Kingdom Asset Company Limited, a company registered in England and Wales with company number: 09784057 Company address: 71-75 Shelton Street, Covent Garden, London WC2H 9JQ.