World Gold Facts and Statistics 2013 - 2014

Who isn't attracted to Gold specially today when owning just a kg of it is worth more than $50k USD. Gold has been an investor's fancy for centuries and is considered to be a solid hedge against inflation. Indians being the largest consumer of gold in the world holds more than 20000 tonnes of gold in their lockers mainly in the forms of jewelries worth more than 1.2 trillion dollars.

While India's production of Gold is almost negligible but it continues to consume more than 750 tonnes of the yellow metal every year, highest in the world. This has resulted in huge trade deficit for the country due to which govt of India has imposed 6% import duty on gold to bring down the consumption of non-productive asset. 2013 and 2014 demand for gold is expected to be flat or slightly negative.

China is the second largest consumer of gold but surprisingly world's largest gold producer. China produces around 300 tonnes of gold every year and consumes little over 400 tonnes of the metal each year. US is net exporter of the yellow metal.

If these facts sounds exciting to you then hold on to your excitement as we have just scratched the surface. World Gold facts that are worth knowing for every person in the world is shown in the following very interesting and self explanatory info-graphic.


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All The World's Gold
From: Number Sleuth

2 comments:

Emily said...

Awesome summary... Never thought that so many queries that I had in my mind would be answered so easily

Anonymous said...

Some important facts regarding India Gold Import:

In 2012, annual demand for gold declined 12% to 864.2 tonnes. However, the level remains still high. The government of India hiked the import duty for gold from 4 per cent to 6 per cent in the Budget 2013. This was aimed at curbing gold imports.

In India, the demand for gold spurted by 39 percent between 2006 and 2011. Out of country’s total annual gold demand, the state of Tamil Nadu contributes about 35% alone.

Due to demand for yellow metal, the net impact on trade deficit is estimated at 0.3 per cent of GDP. Any reduction in this will help decrease CAD. This in turn, will help taming higher rate of inflation as well.

There is co-relation among gold, rupee and inflation. Gold prices rise when the local currency weakens against the US dollar. Higher spending on account of gold too adds to higher rate of inflation.

India and China are contributing almost 50 per cent of total gold consumption.

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