Gold delivers value. It scores high among the precious metals. Its scarcity, wide industrial appliance and historical popularity make gold one of the most demanded commodities worldwide.
Here are the ten facts about gold an investor needs to know.
40% of the World’s Gold Deposits Are Held by Investors
Only 10% of gold production is used in technical applications. 50% of the reserves go to jewellery with the remaining 40% devoted to investments.
Gold is More Expensive Than Platinum
Priced at 1,329 USD, as of September 2016, gold makes the list of the most expensive metals in the world. Remaining in the lead, along with Platinum, which costs 1,025 USD per ounce. An ounce of silver will cost only you 19.17 USD.
Your Smartphone Contains Gold
The industrial sector is extremely attractive for investors. Here the demand for gold is huge. This metal is highly appreciated for its ability to conduct electricity without being affected by corrosion.
Any laptop or PC contains gold. Your smartphone has approximately 50 milligrammes of gold. The metal is used in medicine, from dentistry to surgery. Even suits worn by NASA astronauts are partially made from gold. Gold is everywhere.
We’ve Extracted Only 20% of the World’s Gold Deposits
80% still remains below the ground. There are lots of gold mines around the world. Mponeng, the largest one, is located in South Africa. It’s 2.5 miles deep, which is equal to the average depth of the World Ocean.
Investors Drove 15% More Gold in 2016
In the first four months of 2016, the global investments demand for gold topped 2,300 tonnes, growing by 15%. That’s the second largest leap in history as per the World Gold Council’s statistics.