Think again. The 10 facts below will give you a better understanding of the gilded stash in your locker.
- We still don't own enough gold - If all the gold ever mined was made into bricks it would end up in a block 20 metres or around 60 ft wide, high up and deep. This means if all the gold in the world is gathered around it will just fill one big house.
- Gold reserves will last another 12 years ..................
- We are close to gold's minimum support price..........
- Now gold too is made in China- Just 20 years ago, that country wasn't even on the gold map. Yet China set out to build up its gold mining capacity - and succeeded to the extent that it is now the world's biggest gold producer.
- Americans are going back to gold as money -More than a dozens states in the US, are preparing to adopt gold and silver coins as money, like the dollar.
- There is gold in your smartphones - After silver, gold is the best conductor of electricity. It also doesn't corrode or tarnish whenever it comes in contact with water. This makes the gold perfect, albeit expensive choice, for the consumer electronics industry.
- New York Fed's vaults hold about 23% of the world's official gold reserve.
- Make sure your gold is not tainted, if it is then a smuggled metal
- Silver still packs a punch
- Yes, Gold story still alive - Physical demand has picked up momentum, India was the first to respond.
