Saturday, May 15, 2010

Gold in Numbers

World gold supply in 2008 totaled 3,890 tonnes, according to the World Gold Council, of which 2,554 tonnes represented mine production and 1,336 tonnes came from scrap and other sources.

World official gold reserves at December 2009 stood at 30,190 tonnes. The total volume of gold ever mined is estimated at 170,000 tonnes.

At a price of $1,250 per troy ounce, annual supply had a value of $156 billion, world gold reserves were worth $1.2 trillion, and the total amount of gold ever mined had a value of some $6.8 trillion.

The St. Louis Federal Reserve’s measure of the U.S. money supply, known as money of zero maturity, has grown to $9.4 trillion in March 2010 from $856 billion in February 1980.

Global money supply by the M3 measure was approximately $60 trillion at December 2009, up from approximately $6 trillion in 1980, according to the World Gold Council.

U.S. GDP has increased to $14.2 trillion in 2009 from $2.7 trillion in 1980. Global nominal GDP has increased to approximately $70 trillion in 2009 from $11.5 trillion in 1980.

(source: Reuters Context News, May 13, 2010)

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