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.
This website is published by The Gold Safe Ltd, a Company registered in England and Wales with Company number: 11994725 a subsidiary of the United Kingdom Asset Company Ltd, a Company registered in England and Wales with Company number: 09784057 and is intended for information and promotional purposes only. The information provided in our free guide is not intended as offer to invest and should not be construed financial advice.
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