Gold (Au)

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When asked about investing, many people imagine a crowded building in New York with thousands of stock brokers in their different crowds for different stock. Many people do not consider investing in one of the most common jewelry metals. Gold can also be a good investment economically as the demand is increasing quickly as more and more household and industrial components and different jewelries are being produced, and even some uses, like NASA’s uses, many people have not thought of. However, the supply is increasing at a much slower rate. In 2003, gold was being consumed, through creation jewelry, electronics, etc., at a rate of 120 million ounces per year; however, the rate at which gold was being produced at that time was only 80 million ounces.
Gold is one metal commonly found in jewelry and other ornate objects. This precious metal with the chemical symbol of Au, from the Greek “Aurum” literally meaning “shining dawn”, has been described as a symbol of wealth or power. Humans in general have had a hunger for this shiny metal. Goldfacts.org’s FAQ section states that 71,147,581 ounces of gold was used for jewelry was used in 2010. It is estimated that the total amount of gold, 5,407,112,558 ounces, in the world would add up to become a cube with edges measuring 19 meters each.
The current gold scrap price according to goldprice.org is at a high of $1338.86 USD per ounce. This is a $945.90 USD per ounce increase over the past 10 years. According to this, gold was $392.96 USD per ounce in the year 2003. Gold has had a 241 percent increase in price per ounce for this past decade. Because of the use of gold in electronics, this change is obvious in the sense that the production rate of electronics has increased at the ...

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Cisco Visual Networking Index: Global Mobile Data Traffic Forecast Update, 2013–2018. Cisco, 5 Feb. 2013. Web. 25 Mar. 2014.
Frequently Asked Questions about Gold. World Gold Council, 2014. Web. 12 Mar. 2014.
“GDP (current US$).” Gross Domestric Product. The World Bank Group, 2013. Web. 12 Mar. 2014.
Gold Eagle. Gold5000, 14 Apr. 2003. Web. 6 Mar. 2014.
Gold Price. Gold Price PTY, 2013. Web. 5 Mar. 2014.
Nash, Jim. “How Much Gold Is In Smartphones and Computers.” Tech Page One. Dell, 20 Mar. 2013. Web. 25 Mar. 2014.
Two Methods for Estimating the Price of Gold. DollarDaze, 9 Oct. 2008. Web. 31 Mar. 2014.
The United States Bullion Depository Fort Knox, Kentucky. United States Mint, 2014. Web. 26 Mar. 2014.
“World to Have More Cell Phone Accounts than People by 2014.” Silicon India. InfoConnect Web Technologies India Pvt Ltd., 2 Jan. 2013. Web. 12 Mar. 2014.

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