Ever wondered which country has the most amount of gold? Further more, have you ever though about who’s producing the most?
This insightful infographic, from MoneyChoices.com.au clearly illustrates the power that (in terms of wealth) America has over the rest of the world, with a total of 8million kilograms of gold!
Additional insights from the Infographic:
All Gold Ever Mined – The total amount of gold ever mined is estimated to be worth around US$5 trillion.
How Gold is Used – You might have though (like me) that most of the gold in the world stored in bank vaults and lock-boxes?
Actually, 78 % of the worlds’ gold is made into jewelery. Other industries, mostly electronics, medical, and dental, require about 12%. The remaining 10% of the yearly gold supply is used in financial transactions.
Producers and Owners – The starkest contrast is South Africa: number 27 on the list of nations that own the most gold list despite producing the most gold in the world per year from its mines.
Gold production in the United States – The State of Nevada has the world’s lowest cost and most profitable gold mines. The mines average output is about 7 million ounces per year.
The Fed’s Vault – The Federal Reserve Bank of New York has the largest accumulation of monetary gold. The vault is 25 meters (80 feet) underground and holds $147 billion worth of gold bullion.