Facts about GOLD
you might want to know!

Facts about GOLD
you might want to know!

History
Repeating

Gold has long been connected to money; however Gold relinquished that role in the developed economies after the outbreak of the World War II. At the end of the war, the Bretton Woods monetary system, a regime of fixed exchange rates, was created. The system broke down in 1971 when the US unilaterally ended its gold standard, which set the convertibility of gold and the dollar to US$35 per ounce.

The reference to the Gold Standard often refers to two key periods in history; that of the Classical Gold Standard, and that of the post-Bretton Woods gold-pegged exchange rate system.

History
Repeating

Gold has long been connected to money; however Gold relinquished that role in the developed economies after the outbreak of the World War II. At the end of the war, the Bretton Woods monetary system, a regime of fixed exchange rates, was created. The system broke down in 1971 when the US unilaterally ended its gold standard, which set the convertibility of gold and the dollar to US$35 per ounce.

The reference to the Gold Standard often refers to two key periods in history; that of the Classical Gold Standard, and that of the post-Bretton Woods gold-pegged exchange rate system.

The Classic
Gold Standard!

The Gold Standard was a system under which nearly all countries fixed the value of their currencies in terms of a specified amount of gold or linked their currency to that of a country which did so. Domestic currencies were freely convertible into gold at the fixed price, and there was no restriction on the import or export of gold.

Gold coins circulated as domestic currency alongside coins of other metals and notes, with the composition varying by country. As each currency was fixed in terms of gold, exchange rates between participating currencies were also fixed.

The Classic
Gold Standard!

The Gold Standard was a system under which nearly all countries fixed the value of their currencies in terms of a specified amount of gold or linked their currency to that of a country which did so. Domestic currencies were freely convertible into gold at the fixed price, and there was no restriction on the import or export of gold.

Gold coins circulated as domestic currency alongside coins of other metals and notes, with the composition varying by country. As each currency was fixed in terms of gold, exchange rates between participating currencies were also fixed.

The Bretton Woods
System

It was clear during the Second World War that a new international system would be needed to replace the Gold Standard after the war ended. The framework for it was designed at the Bretton Woods Conference in the US in 1944. US political and economic dominance necessitated the dollar being at the center of the system.

After the chaos of the inter-war period there was a desire for stability, with fixed exchange rates seen as essential for trade, but also for more flexibility than the traditional Gold Standard had provided. The system drawn up fixed the dollar to gold at the existing parity of US$35 per ounce, while all other currencies had fixed, but adjustable, exchange rates to the dollar.

Unlike the classical Gold Standard, capital controls were permitted to enable governments to stimulate their economies without suffering from financial market penalties.

The Bretton Woods
System

It was clear during the Second World War that a new international system would be needed to replace the Gold Standard after the war ended. The framework for it was designed at the Bretton Woods Conference in the US in 1944. US political and economic dominance necessitated the dollar being at the center of the system.

After the chaos of the inter-war period there was a desire for stability, with fixed exchange rates seen as essential for trade, but also for more flexibility than the traditional Gold Standard had provided. The system drawn up fixed the dollar to gold at the existing parity of US$35 per ounce, while all other currencies had fixed, but adjustable, exchange rates to the dollar.

Unlike the classical Gold Standard, capital controls were permitted to enable governments to stimulate their economies without suffering from financial market penalties.

Facts & Numbers
about Gold

you might have never heard from!
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Million

If all of the existing gold in the world was pulled into a 5 micron thick wire, it could wrap around the world 11.2 million times.
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Degrees Centigrade
This is the boiling point of gold.
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Grams
There are just over 31 grams in a troy ounce of gold.
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ounce
It is rarer to find a one ounce nugget of gold than a five carat diamond.
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Degrees

The temperature of the human body is 37 degrees centigrade. Gold’s conductivity of heat means that it rapidly reaches body temperature – one of the reasons it has become valued for jewelry.
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Degrees Centigrade

Gold melts at 1,064 degrees centigrade.
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Tons

Around 187,200 tons of gold has been mined since the beginning of civilisation.
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Year

While digging up stones to build a house, Australian miner George Harrison found gold ore near Johannesburg in 1885, beginning the South African gold rush.
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Meters Cubed

All of the gold ever mined would fit into a crate of 21 meters cubed.
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Percent

Around half of all gold mined today is made into jewelry, which remains the single largest use for gold.
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ers

The 40,000 miners who joined the California Gold Rush in 1849 were called “49ers”. Only a very small number of them ever got rich.
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Gold Coins

Julius Caesar gave 200 gold coins to each of his soldiers from the spoils of war in defeating Gaul.
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Percent

Over 90 percent of the world’s gold has been mined since the California Gold Rush.
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Parts per Thousand

Gold is often alloyed with other metals to change its colour and strength. Eighteen karat gold is composed of 750 parts of pure gold per 1,000.
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Centimeter

The largest gold coin ever created was cast by the Perth Mint in 2012. Weighing more than 100 kg and measuring 80 cm in diameter, it surpassed the previous record, a 2007, $1 million coin which was just 53 cm across.
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Miles

One ounce of gold can be stretched to a length of 50 miles; the resulting wire would be just five microns wide.
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Troy Ounces

The largest ever true gold nugget weighed 2,316 troy ounces when found at Moliagul in Australia in 1869. It was called the “Welcome Stranger”.
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Troy Ounces

A “London Good Delivery Bar”, the standard unit of traded gold, is made from 400 troy ounces of gold.
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Protons

The atomic number of gold is 79, which means there are 79 protons in the nucleus of every atom.
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Bars

The US Federal Reserve holds 6,700 tonnes of gold, in 530,000 gold bars. At its peak in 1973, the Fed stored more than 12,000 tonnes of monetary gold.
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Tons

There are 147.3 million ounces – around 4,600 tons – of gold stored in the US Bullion Depository at Fort Knox.
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Tons

Even at only 10 parts of gold per quadrillion, the world’s oceans are estimated to hold up to 15,000 tons of gold.
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Square Meters

One ounce of pure gold can be hammered into a single sheet nine meters square.
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Centimeter

One ounce of gold can be beaten into a translucent sheet 0.000018 cm thick and covering 9 square meters; or pulled into a wire 80 km (50 miles) long.

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