One of the main reasons for the intensive mining of gold is that it is a rare metal. As of today, this shiny yellow commodity exists only in a quantity of 165,000 metric tons. If all of it were put together, you would only get a pure 24K gold cube of 20 meters. Hence, the demand for buying gold rises globally. It is widely used in jewelry by many ethnic groups, with India and China taking the lead, with 60% of their gold used for jewelry. But other demands for gold are for investment, for central bank reserves and for technology. Each sector has different dynamics driving the demand for … [Read more...]
Buying Gold Coins: What You Should Know About Gold Prices
The price of gold increased by 6% during the third quarter of 2010, as reported by US Mint. This surge stemmed from the increased demand of bullion gold and gold coin of 5% in September. The US dollar’s decline also boosted gold investment. Hedge funds also played a part in boosting the gold coins’ prices. It was suggested that the US Mint had trouble keeping up with the production of gold coins and bullion gold due to the increasing gold demand. The 24-karat American Gold Buffalo and the Canadian Gold Maple Leaf coins were the market’s favorite for the third quarter. Understanding … [Read more...]
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