Gold has long been considered essentially a monetary metal. In the late 20th century, however, gold’s superior electrical conductivity and resistance to corrosion caused it to emerge as an essential industrial metal. Gold now performs critical functions in computers, communications equipment, jet aircraft engines, and a host of other products, although the largest single use for gold is still in the production of jewelry.
The trade in gold has been robust of late—particularly since the financial crisis that began with the last recession and the bursting of the housing bubble—and gold prices have risen sharply. The estimated price in 2010 was 23 percent higher than in 2009, hitting a high in November 2010 of $1,424.07 per troy ounce.
The graphic shows gold production and apparent consumption figures for a period of 30 years, from 1980 to 2010. Apparent consumption is a calculated figure based on production, plus imports, minus exports plus or minus change in stock.
Geographic reference: United States
Year: 2010
Market size: $8.9 billion
Source: “Gold, Statistics and Information,” Mineral Industry Survey, a series of reports produced by the U.S.Geological Survey, made available online and last updated on May 19, 2011. Here is a link to the USGS site.
Original source: U.S. Department of the Interior, USGS
I am learning that bullion gold coins are simply the price of gold, at the moment, and that can change daily. I’m also learning that investment-grade gold and silver coins have a numismatic or rarity value. . . Where is the very best place to buy the best investment gold coins at the very best prices? I have spoken with so many dealerships online that charge 28% markup on their investment spreads all the way up to 45% markup from the original cost of the coins.. . Is there a place where I can save money thereby creating a faster return on my investment? . Which is the better investment, everyone looks at bullion when they think of gold, but I am learning more promising returns on the investment-grade gold and silver coins. Which is better, and why? This seems to be a huge discussion and I haven’t agreed with any of the answers posted on this site as of yet..
Well, we suspect that we’re replying to an automatically generated message but, in case a real person posed this question of us, please know that we can not provide any investment advice. That is not our expertise nor the goal of our blog.
Wishing you well in finding a safe and productive place to put your investments.