Movements of gold price
Gold prices are changing sequentially and are not constant. It began to soar gradually around 2003, and in 2015 the gold price soared to about 3.3 times.
Total output of gold
In the history of mankind, the total production of founded gold is said to be about 170,000 tons, most of which exist. However, the total amount of the world has been unearthed over a long period of time, stands only 3.5 cups full of Olympic swimming pools. The current supply is about 4,000 tons, putting the amount produced at a rate of around 2,500 tons each year and 1,500 tons collected from recycling together.
It is said that there are about 70,000 tons of space still buried on the earth, but most of them are in difficult situation to mine, that’s why we can’t expect the output to increase in the future. Therefore, it is thought that it will be necessary to recycle and cover the amount produced to date in the future. The cost of mining gold mines has soared worldwide, about four times as high as 20 to 30 years ago. The average amount of Gold in gold ore is about 5 grams per ton, so it’s easy to say that the outcome of mining is small compare to the cost. In contrast, products such as PCs and mobile phones contain as much as 200 grams of gold per ton. This percentage is about 40 times the average content of gold ore.
60% to70% of gold applications are for jewelry, and industrial and investment each applications account for 15% to 20%, respectively.
Goldoprecious metal asset property
Consumers are also becoming more aware of the high value of precious metals and gold. As the number of elderly people aged 65 and over is expected to increase more and more in the future, it is likely that there will be a need to think about how to take over and cash in the gold and precious metals on hand. Jewel Cafe provides a free appraisal of gold and precious metals, so it is recommended that you take an appraisal while the gold market is high.