Today there is 165,000 metric tonnes of stocks above ground. If every single ounce of this gold was placed next to each other the resulting cube of pure gold would only measure 20 metres in any direction.
around 60% of today;’s gold becomes jewellery with India and China at the forefront of consumption . In East Aisa, middle East and India , gold has powerful cultural meanings, accounting for about 70% of the world’s gold jewellery in 2009.
Jewellery creates just one source of demand: investment, central bank reserves and the technology sector are all significant, each is driven by different dynamics, adding to gold’s strength and independence.
In creating supply, gold mining companies operate on every continent of the globe, this broad geographical dispersal means that issues, political or otherwise, in any single region is unlikely to impact the supply of gold. Beyond mine production recylcing accounts for for a third of all current supply. In addition, central banks can also contribute to supply should they sell part of their reserves. It should be noted that adter 18 years as net sellers, collectively central banks are now effectively net buyers, causing not only a significant decrease in supply but a corresponding simultaneous increase in demand
Thanks to Betts metals