World Gold Reserves

Gold is an important commodity because of how precious and flexible it is, more so than other metals. Pure gold can be transformed into any shape desired, and, in addition to its bright yellow colour and high lustre, this is what makes gold popular in the manufacture of jewellery and ornaments. Gold does not corrode and is a good conductor of electricity, so that its uses are now more varied and it is used in electronics and dentistry.
There isn’t any definitive evidence on how and when gold reserves were first discovered, although history suggests that gold certainly existed during medieval Egypt. However, the first time that gold was discovered in large quantities was during the 19th century. These discoveries spanned the globe, occurring in the United States, Australia, South Africa and the East. Most of the large placer gold reserves are found in Asia, South America or Africa.
Due to recent gold mining, China is now the world’s largest producer of gold. China produced 276 tonnes of gold in 2006, and in 2007 this output had increased by twelve percent. This rise put China ahead of South Africa, which produced 272 tonnes. Until then, South Africa had been the largest gold producer in the world for an amazing 101 years.
In the last five years, gold exploration in China discovered five untouched gold deposits holding reserves of 600 tonnes of gold. Another gold discovery was made in Zhaoyuan, a town found in Shandog, and led to 60 gold reserves being built and operated there. Fifteen percent of China’s total gold comes from this town, which is the largest gold producing town in the country.
China’s complete gold reserves are small when compared to the entire world, as they only make up 7% of all the gold produced on earth. Most of the gold discovered is in the eastern provinces of China, although the west is now being explored and gold discoveries are being made on a much smaller scale than the east.
Australia is the fourth largest producer of gold in the world. The mining of gold reserves in Australia has been one of the primary industries of the continent for a significant period of time, and is therefore a large contributor to Australia’s economy.
Money is an important commodity in today’s world, and changes in economy affect everyone. Unlike paper money, gold values stay stable and generally increase all over the world. Buying stocks in gold companies are almost certain to guarantee an individual a profit because the value of gold keeps increasing, and fluctuations in its value are very minute.
Those interested in the esthetic value of gold can easily use the internet to search for rare gold items such as coins, medallion, or household items. Dealers from all over the world are buying and selling gold online, and a few clicks is all that is required for exchanges to occur from one country to another. The need for gold reserves only seems to be increasing all around the world, fuelled mainly by the interest in them from companies, investors and collectors alike. 
 

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