All the gold in the world

The quantity of gold that has been extracted from goldmines since the beginning of history is evaluated to about 121 tons, to which about 3000 tons of new production is added every year. The gold mines are located in South Africa, the US, Australia, Russia, Canada, China, Brazil, and the Philippines. Where is all the gold of the world located? The estimations of the economists produce a double analogy: 30% of the gold is located in the funds of central banks (like Switzerland, US, U.K., Italy, etc), 20% belongs to individuals (under the form of coins or bars from investments), and 50% has been transformed into jewelry products. It seems that the first gold coin is dated to the second millenary B.C. Gold coins were used as a means of trade in many Greek cities on the 4th century B.C. Gold is used as a decoration but also as a currency matter, a fund of value. Therefore gold can be obtained as an investment from the banks. You can buy gold as a plaque, bar or coin from the banks, and maybe even from your jeweler. Among the most famous gold coins are the English pound, the South African Krugerrand, the Canadian Maple Leaf, and the Italian Marengo. Every day, At 10:30 and 15:00, in the Gold Room of the Rothschild bank of London, five bankers define the official price of gold. This price fixing is a meeting point of buying and selling gold in the whole world. The two daily meetings in the Gold Room are a respectful British tradition turned into an institution. In reality the price of gold is defined many times a day in the world’s greatest stock markets.