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Khalid,2400331
Rongzheng(Wolfe)Zhang,2381040
WyattPfenning,2381376
JamesAkika,2399932AnAnalysisofGold
history
Goldhistory
GoldHistoryWhatisGold?TypesofGold?Typesofgold..OriginofGoldGoldasacurrency
Origin:
PriceDriver:
1)centralbankreserves
2)valueoftheU.S.dollarandinterestrates
3)worldwidejewelryandindustrialdemand(includingfromemergingeconomies)
4)wealthprotection(especiallyduringtimesofgeopoliticaltensions)
Goldasacommodity:Asacommodity,goldmainlybetreatedasaluxuryproduct.Mostofthecommercialgoldpurchaseareintheformofjewelleriesortokens.
10.Uzbekistan–90,000kilograms9.Indonesia–100,000kilograms8.Ghana–100,000kilograms7.Canada–110,000kilograms6.Peru–150,000kilograms5.SouthAfrica–190,000kilograms4.Russia–200,000kilograms3.UnitedStates–237,000kilograms2.Australia–270,000kilograms1.China–355,000kilogramsTopCountriesofProductions:(FinanceOnline,2017)
CountriesorRegionsofConsumption:GoldJewelleryConsumption2015RankCountryTonnes1India674.52China563.73UnitedStates140.54SaudiArabia57.55UAE55.36Turkey49.37RussianFederation42.58Egypt40.99Iran35.410HongKong34.3GoldJewelryConsumptionQ22016RankCountryTonnes1China83.82India69.23SaudiArabia16.94UAE11.55Turkey10.96Iran9.37RussianFederation8.38SouthKorea79France6.410HongKong6.1
Estimation:China’sconsumptionwillkeepincreasingduetoRMB’sroleintheworldeconomy.However,theneedforgoldasajewellerywon’thaveanymajorchangesaschina’sgoldpriceisquiteunstable.MostoftheChinesebuygoldasaninvestmentratherthanluxury.Ontheotherhand,India’sgoldconsumptionwillremainhighduetothefactthatgoldispartofit’sculture.GoldisusedintensivelyinIndiapeoplesceremonyandrituals,thustheneedforgoldisalwaysstrong.
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