 |
GOLD |
|
History & properties:
Gold has the symbol Au derived from the Latin word aurum. Gold has the atomic
number 79 and was first mined in Egypt more than 4,000 years ago. It was used in
the world's first coinage around 640BC in Lydia, in what is now modern day Turkey.
Gold is a good
conductor of heat and electricity, and it is unaffected by air, heat, moisture and most
solvents. It is occasionally found in nuggets, but occurs more commonly as minute
grains between mineral grain boundaries. Historically, gold was obtained by panning
streambeds, but modern extraction techniques can economically recover gold from
ore grades as low as 0.5 parts per million of gold production.
Major Holders:
Global central banks remain a powerful community in terms of the world gold market.
Their combined holdings amounted to 30,733 tonnes as of April 2006. The largest
holder of reserves is the United States with 8,135 tonnes, equivalent to 75.1% of
their total reserves. Only Greece has a higher proportion at 79.8%. The average gold
to total reserve ratio across all central banks is 11.2% of gold producing.
We Are Here To Do Business!
::: CommoditieShop, I Want It all! |
|
 |
|
|
| South Africa, Australia and the US account for approximately one-third of the world's
annual gold production. The bulk of South African production takes place in the
Witwatersrand region of the Transvaal, near Johannesburg. South Africa's reserves
are estimated at 40,000 tonnes, or 40% of the world's total. In the US, the largest
gold producing states are Nevada, followed by Alaska and California. |
|
| The majority of gold consumption relates to jewellery demand. Alloys of gold with
silver, copper and other metals are often used because pure gold is too soft for
ordinary use. When used in jewellery, it is measured in karats (k), with pure gold
being 24k, and lower numbers indicating higher copper or silver content. |
|
