From 1900 until 2010, that is 110 years, world gold production has been steadily risen, except for four periods. See chart for historical world gold production numbers:
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Demand and Supply of Gold: Gold Production
Gold is a rare metal. All extracted and still available gold has a total weight of 165 thousand tons. If the precious metal were melted into a cube, it would measure only 20 meter (65.6ft) into each direction.
The Forbes Global 2000 includes 12 gold companies. The biggest is the US Newmont Mining; six are from Canada, two from South Africa, and one from Australia, Peru and Russia (see table).
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Gold Rate: Explaining the Current Bull Market (2001 – )
What explains the current Bear Market for gold?
The beginning of the 21th century is witness of a long and mostly continuous rise in the gold rate from US$ 265 per ounce at the beginning of 2001 until more than US$ 1400 ten years later. This translates into a gain of 528%, which is a stark contrast to the previous 20-year long bear market.
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History of Gold – Part 4: Bull and Bear Markets
The first three parts about the history of gold presented the Classical Era, the Mediaeval Times, the Early Modern Times, the period of the Classical Gold Standard (1816 – 1914) and the Interwar Period (1918 until 1939) and finally the Bretton Woods System from 1944 until 1977. Now, the final part sheds light on the gold rate after the Bretton Woods break-down. This time can be grouped into three periods: a rise of the gold price from 1971 until 1980 (bull market), its fall thereafter (bear market) and an ongoing increase since 2001 (bull market).
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History of Gold – Part 3: Bretton Woods System
In the first and second part of the history of gold, five periods were presented: The Classical Era, the Mediaeval Times the Early Modern Times, the period of the Classical Gold Standard (1816 – 1914) and the Interwar Period (1918 until 1939). Now follows the Bretton Woods System which lasted from 1944 until 1977.
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Gold Rate: Explaining the 1980 – 2001 Bear Market
What were the reasons for the mediocre development of the gold price from 1980 until the new millennium?
The bull market for gold in the 1970s can be explained by the end of the gold standard, the begin of gold trade, economic stagnation in the West, the oil embargo and several wars and revolutions.
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Gold Rate: Explaining the 1970s Bull Market
This article explains the reasons for the jumps of the gold rate during the 1970s.
At the beginning of the 1970s, the gold rate was at US$ 35. Ten years later the price stood at US$ 870 per ounce. This is a percentage gain of 2,485%. In contrast, during the same time the Dow Jones Industrial Average increased only from 809 to 839 points. This represents a total gain of 3.7%; not per year, but for the whole decade.
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History of Gold – Part 1: Ancient History, Mediaeval Times and Early Modern Times
This is the first part of a four part series about the history of gold as a means of payment, and also the development of the gold standards. The first three periods are the Classical Era, the Mediaeval Times and the Early Modern Times.
1. Ancient History and Classical Era
5,000 years ago in Egypt and the Middle East: gold and other metals fulfilled the classical function of money (exchange, means of payment, and value storage). However gold coins were not yet widely used in economic transactions.
History of Gold – Part 2: Classical Gold Standard and Interwar Period
In the first part of the history of gold, three periods were presented: the Classical Era, the Mediaeval Times and the Early Modern Times. Now follows the second part of the series, covering the period of the Classical Gold Standard (1816 – 1914) and the Interwar Period (1918 – 1939).
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