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Four Facts You Did Not Know About Gold

Last updated 4 years ago

Did you know that roughly 171,300 metric tons of gold have been mined since people started recognizing the value of this precious metal? Today, gold continues to circulate throughout the globe, with investors acknowledging the numerous advantages that buying gold presents. Here are four more fun facts you probably don’t know about gold:

The Federal Reserve’s Gold Supply According to the World Gold Council, the Federal Reserve is in possession of roughly 6,200 metric tons of gold. That number is going to rapidly decrease soon, thanks to a recent move by Germany to withdraw hundreds of metric tons’ worth of gold from the U.S.’s central bank vaults in New York City.

People Who Depend on Gold Mining Over 100 million people throughout the world rely on gold mining for a living. Gold is mined using many different methods in countries like Australia, Brazil, and here in the United States.

The Largest True Gold Nugget Ever Found In 1869, the largest gold nugget ever recorded was found in a small town in Victoria, Australia. The nugget, known as the “Welcome Stranger” weighed 2316 troy ounces, which translates to roughly 159 pounds.

The Appreciation of Gold from 2000 to 2010 In just ten years, the price of gold increased by nearly 394%. During this time, crises and global incidents have led to major changes in financial markets worldwide. Due to various factors such as inflation, low trust in the dollar, and slow economic recovery, investors turned to buying gold as a means of establishing greater financial security.

For expert advice in buying gold and silver, be sure to visit the Capital Gold Group in Los Angeles. We know that making the right investment decisions can be difficult—that’s why our experts are standing by to help you better understand the precious metal market. Be sure to like us on Facebook and call (800) 510-9594 to set up a consultation with us today.

Disclaimer: The representatives at Capital Gold Group are not financial advisors and the information provided in this blog should not be considered financial advice. The past performance of gold investments is not indicative of potential future gains.

 

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