Whether you’re buying gold in Los Angeles or anywhere in the world, have you ever stopped to consider how much gold actually exists? Or who owns it?
Since the Bronze Age, humans have been mining gold for ceremonial, religious, and technological use. Almost all of that gold is still in circulation, so thank a caveman next time you put on your favorite jewelry! Most of Earth's gold is now inaccessible to humans—either deposited in the molten mantle and core, or distributed in infinitesimal flecks throughout the oceans.
To understand how the value of gold is determined, you have to understand gold's rarity, distribution, uses, and regulation. These helpful and interesting facts can help you make an informed decision when you invest in gold.
*For "Compared to the US Debt", this figure is accurate as of October 2012