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Gold


Introduction

  • Gold is a chemical product with symbol Au and atomic number 79. Chemically, Gold is a transition metal and group 11 element
  • In its purest form, Gold is a bright, slightly reddish yellow, dense soft, malleable and ductile metal.
  • Gold is the world's oldest international currency. It is a precise metal used in coins and jewelry.
  • Gold is the most oldest precious metal known to man for thousand of years, an investment and simply an object of beuty.
  • Appriximately, one-third of gold's are used in jewellery in the western markets and industry.

Demand and Supply

  • Gold has cultural and financial value, which supports demands across generations.
  • Demand of Gold is mainly into jewellery and it is used in financial portfolios and protect the wealth of nations.
  • Gold production was increased by 12 MT to 2848 in 2012, combined demand for bars & coins dropped from 1515 MT to 1256 MT.
  • In the end of 2014, supply of Gold were 183,600 tonnes of stocks in existence above ground.
  • The sources of gold have become as geographically-diverse as gold demand.

Gold Production

  • In 2014, China was the largest producer in the world, for around 15% of total production.
  • Asia produces 22 percent of the total newly-mined gold.
  • South American produces 17% of the total while North America supplying around 15%.
  • Africa production is 20% of the total production.

Global Scenario

  • Australia, United States and South Africa are the three largest gold producing countries in the world.
  • Canada, China, Indonesia, and Russia are other major producers.
  • In recent years, China has become the world's largest producer of gold, overtaking South Africa's top postion.

Indian Scenario

  • India is world's largest market for gold jewellery and a key driver of global gold demand.
  • Gold production is very low in India. Karnataka, Jharkhand and Gujarat produce small quantity of Gold.
  • In 2012, gold's role as an inflation hedge bolstered its appeal in India. India imported around 850 metric tonne (MT) of gold in 2012.
  • Every year, India imports 500-800 tonnes of gold on an average every year. Major trading center of gold in India is Mumbai.

Factors Influencing the Market

  • US dollar strength also influences the gold prices, when it increases,it causes a fall in demand of gold.
  • Supply of gold from central bank's sale, reclaimed scrap, and official gold loans.
  • One of the most crucial factors influencing the gold prices is the state of the global economy. When the economic situation is weak with most investments providing low returns.
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Metal

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Minerals

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Chemicals