Which metals are most valuable?
The precious metals market is booming, with demand outstripping supply and a rising market cap.
But precious metals are not the only commodities that are valued at astronomical levels.
Here are a few other interesting facts you might not know about precious metals: 1.
The United States gold and silver reserves are 3,000,000 tonnes and 1,000 billion ounces.
Gold is the most precious metal in the world, and its worth around $US6,000 an ounce.
In 2012, the price of gold was $US1,087 per ounce.
4. Silver is 2,900 tonnes and is worth about $US3,500 an ounce, making it the third most valuable metal.
China is ranked as the worlds most valuable country with an estimated $US4.9 trillion in assets.
As of April 2017, the United States is one of the world’s most popular destinations for precious metals and the world is second only to Russia.
More than 40 per cent of world wealth is held in precious metals.
For every $1 in value in gold and silver, the world earns $US13 in value.
One pound of gold is worth around £1,700, while one ounce of silver is worth just £2,400.
Only 1 per cent of world gold reserves are held in the United Kingdom.
Between the UK and Germany, the world’s biggest holders of precious metals is the US with a combined 13.7 per cent.
Since 2012, Russia has held an estimated 16.3 billion ounces of gold and a 17.5 billion ounce of silver.
By 2020, there should be around 20 billion oz of mineral supply in the world.
A pound of silver will set you back around £9.80 ($11.40) in 2020.
On average, a year’s supply of gold in the US is valued at around $US14,000 ($24,600).
With a market cap of $9.7 trillion, China is the fifth largest gold-exchange market after the United Arab Emirates, Russia, Japan and the UK. 17.
When the gold market peaked in December 2009, it was worth $17,000 per ounce ($US3.2 billion).
If you’re looking for a place to hold your precious metals, you can only do so in New York, Hong Kong and Shanghai.
Even if you’re not a bullion fan, gold prices are currently trading at around $11,600 an ounce (US$1,600) in New York.
While there’s a lot of hype around precious metals today, they were created in 1871 by Giacomo Gottfried who wanted to use metals to make a living.
It takes over two years to mine a single ounce of gold.
According to the US Mint, there are 6,500 tonnes of gold, silver and platinum currently in circulation.
At $US10,000/oz, gold is worth around US$27,000.
Although precious metals have been around for a long time, the value of a gold coin has only increased over the last decade.
There are only 8,500 ounces of gold and 1,600 ounces of silver in the market.
Around 30 per cent in the entire world is invested in precious metal ETFs.
It’s estimated that in 2021 China will have a $5 trillion market cap.
About 80 per cent of global investment into gold and precious metals comes from the US. 29.
Over the past 25 years, the amount of gold owned by investors has increased from $8.4 billion in 2000 to $16.2 trillion in 2018.
Today, the average US bullion investor has an estimated $30 million in gold.