Gold has always been one of the world’s most precious
and coveted metals. Rarity is the primary reason for its value. Estimates on global reserves are not much higher than 50,000 metric tons. The countries with the largest estimated reserves
are Australia, South Africa, and Russia. Approximately 2,700 metric tons of gold was produced worldwide in 2011. Currently, China is the world’s leading producer of gold
, followed by Australia and the United States.
Among gold mining companies
, Barrick Gold from Canada is the global leader with a market share of some nine percent. Barrick Gold
announced revenue figures of 14.3 billion U.S. dollars for 2011. In the same year, the company produced 7.7 million ounces of gold. Newmont Mining
from the U.S., and AngloGold Ashanti from South Africa are the next largest gold producers. M&A activities in the gold mining sector are very vibrant. Taking all mining and metal deals
into account for 2011, gold was one of the two most targeted commodities, both by value and number.
As the number three in global gold production, the United States produced
some 237 metric tons in 2011. Nevada is by far the U.S. state with the highest gold production. Six out of the top ten U.S. gold mines
are located in Nevada. Interestingly, the United States recycled some 225 metric tons of new and old scrap, while reported gold consumption came to some 200 metric tons in 2011. The United States has the largest official gold holding
of any country worldwide. Approximately 8,100 metric tons of gold is held by the United States.
Over the last decade, global demand for gold
has increased constantly, marking a new record high of almost 4,600 metric tons in 2011. This, of course, has influenced the global price of gold
. Gold has reached an annual average price of almost 1,572 U.S. dollars in 2011. For example, this price stood at some 271 U.S. dollars in 2001. This makes it clear that gold is still one of the world’s most coveted commodities and most rewarding investments
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