“All You Need to Know About the World’s Gold Reserves, Including Central Banks, Jewelry Markets, and More”

2023-05-07 05:03:00

The world’s gold is divided: one part is in the form of bullion in the hands of different countries as strategic reserves and another part will have been turned into jewels.

According to the firm Kalo Gold and the Visualcapitalist portal, If all the gold that has currently been extracted were put together, a solid cube of regarding 22 meters on each side might be formed, an outstanding dimension but which also gives an idea of ​​the very limited amount of gold that exists.

The central bank of Germany had reserves of approximately 3,355 tons of gold, thus placing it in second position only behind the United States. What makes this country one of the ‘richest’ when it comes to gold.

Another fact to take into account to understand all the gold that exists in the world is that according to data from the World Gold Council, It is estimated that a total of 201,296 tons of gold have already been extracted, leaving another 53,000 tons in identified underground reserves.

According to current studies on this metal, regarding 46% of all gold mined is transformed into jewelry. India and China are the largest markets for the consumption of gold jewelry and their combined demand for this industry exceeded 50% worldwide in 2020.

Central Banks

The total reserves of this precious metal that is in the hands of central banks exceeded 36,000 tons in September 2021, according to data from the World Gold Council (WGC). This non-profit association represents all gold producers worldwide. Founded in 1987, it has 33 associates, most of them are companies dedicated to the gold market, according to the Cotizaciones de Metales site.

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