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...]