Gold Andy Duong

This map shows the top ten countries that produce gold This map shows the top ten countries that produce gold. Gold is able to be found all over the world; however it seems to be more abundant in the east. Northern countries such as Canada would find it more difficult to find gold because of the colder climates. China has a lead over all the other countries with about 320,000 kilograms of gold production in 2009. Falling behind China is the United States and Australia with almost the exact same production. In the United States, gold was most prevalent in the western coast. In the bottom left of the map is a gold nugget found during the California Gold Rush.

Over the recent years gold has had a fluctuation of prices Over the recent years gold has had a fluctuation of prices. In the 2000s gold was only worth about 300 dollars per troy ounce, but at around 2006 the price started rising a lot faster. For the next two years gold was still increasing and making a profit, until the recession in 2008. This dropped gold’s price from 1000 dollars per troy ounce to about 700 dollars per troy ounce in a year. After the 2008 recession gold started to dramatically increase in price; topping off at about 1900 dollars per troy ounce in 2011. A similar situation occurred during 1970-1985. Gold had a small increase and decrease in value during 1975s and then an even bigger rise and drop of gold prices years after. With the addition of inflation, the record breaking price of gold was 2565 dollars per troy ounce in 1980. By looking at what happened in the 1980s, I would hypothesize that the price of gold will start to decline.

This is a pie graph showing where all the gold produced goes This is a pie graph showing where all the gold produced goes. Over half of all gold goes directly into jewelry. Eighteen percent go to official holdings. Sixteen percent are put into investments, likely from the stock market. Twelve percent go into industrial use such as gold in computer memory chips. Gold is used for many things such as dentistry, medicine, and awards such as medals. Gold is mostly used in jewelry because of its appearance.

Citations NumberSleuth Team. (2010, December). All the World’s Gold. Retrieved from www.numversleuth.org Realterm. (2009, November 19). Gold price per troy ounce in USD. Retrieved from https://en.wikipedia.org NumberSleuth Team. (2010, December). Composition of the 161,000 Tonne Aboveground Gold Inventory. Retrieved from www.numversleuth.org