World’s Gold

All The World’s Gold

We here at Expensivity are all about exploring the world of numbers, and with this infographic we decided to take a look at the numbers behind the entire amount of gold in the world as well as other facts about gold. Below are a series of questions that we began with and the answers we discovered in our research. We believe that this is the most thorough and in-depth resource with facts about the world’s gold on the Internet and we hope you have as much fun reading through the information as we did in putting it all together.

1. How much above-ground gold (gold that has been mined) is there in all the world?

The best estimate at the end of 2011 is that around 165,000 metric tons (or tonnes) have been mined in all of human history. That’s about 181,881 ordinary tons or 363,762,732 pounds, or 5,820,203,717 ordinary ounces. Gold typically is measured in what are known as troy ounces, which are a little bigger than ordinary ounces (a troy ounce is 31.1034768 grams whereas an ordinary ounce is 28.3495231 grams). There are 32.1507466 troy ounces in a kilogram or 32,150.7466 troy ounces in a metric ton.

“More than half of all humanity’s gold has been extracted in the past 50 years. Now the world’s richest deposits are fast being depleted, and new discoveries are rare. Gone are the hundred-mile-long gold reefs in South Africa or cherry-size nuggets in California. Most of the gold left to mine exists as traces buried in remote and fragile corners of the globe. It’s an invitation to destruction. But there is no shortage of miners, big and small, who are willing to accept.” [QUOTE SOURCE: http://ngm.nationalgeographic.com/print/2009/01/gold/larmer-text.]

SOURCES: http://ngm.nationalgeographic.com/print/2009/01/gold/larmer-texthttp://www.gold.org/about_gold, and http://minerals.usgs.gov.

2. How much gold gets mined per year worldwide?

The table below shows world gold production from 1900 thru 2011. Production in 1900 was around 400 metric tons per year and has consistently moved up over the years. It is currently around 2,500 metric tons per year. The all time high was reached in 2001, with 2,600 metric tons of gold production worldwide. The total gold mined from 1900 to the present is just under 141,000 metric tons. Given that humans have mined a total of 165,000 metric tons over the course of history, that leaves just 24,000 metric tons mined before the 20thcentury.

SOURCE: http://goldratefortoday.org/world-gold-production-1900-2010.  

YearWorld Production (in metric tons)Average PriceTotal Dollar Value by YearTroy Ounces per Year
1900386$ 18.96$235,297,168.0412,410,188.19
1901395$18.98$241,037,362.3312,699,544.91
1902451$18.97$275,064,748.0114,499,986.72
1903496$18.95$302,191,297.4415,946,770.31
1904526$18.96$320,638,109.8116,911,292.71
1905575$18.92$349,767,972.2618,486,679.30
1906608$18.90$369,450,659.3319,547,653.93
1907623$18.94$379,366,592.6020,029,915.13
1908668$18.95$406,983,440.9121,476,698.73
1909687$18.96$418,780,192.8522,087,562.91
1910689$18.92$419,113,274.5922,151,864.41
1911699$18.92$425,196,195.8422,473,371.87
1912705$18.93$429,072,611.3622,666,276.35
1913694$18.92$422,154,735.2222,312,618.14
1914663$18.99$404,789,795.4721,315,945.00
1915704$18.99$429,822,045.2722,634,125.61
1916685$18.99$418,221,734.3822,023,261.42
1917631$18.99$385,252,429.7820,287,121.10
1918578$18.99$352,893,667.8518,583,131.53
1919550$19.95$352,774,067.0717,682,910.63
1920507$20.68$337,092,861.9216,300,428.53
1921498$20.58$329,507,857.7816,011,071.81
1922481$20.66$319,496,758.3115,464,509.11
1923554$21.32$379,741,470.3017,811,513.62
1924592$20.69$393,797,776.7219,033,241.99
1925591$20.64$392,182,523.2119,001,091.24
1926602$20.63$399,288,481.2219,354,749.45
1927597$20.64$396,164,071.6619,193,995.72
1928603$20.66$400,533,358.1319,386,900.20
1929609$20.63$403,931,370.5419,579,804.68
1930648$20.65$430,215,570.4020,833,683.80
1931695$17.06$381,201,757.2122,344,768.89
1932754$20.69$501,560,006.1524,241,662.94
1933793$26.33$671,297,622.2825,495,542.05
1934841$34.69$937,975,205.0227,038,777.89
1935924$34.84$    1,035,001,978.6729,707,289.86
19361,030$34.87$    1,154,729,429.9633,115,269.00
19371,100$34.79$    1,230,376,921.6435,365,821.26
19381,170$34.85$    1,310,930,617.2437,616,373.52
19391,230$34.42$    1,361,153,298.5139,545,418.32
19401,310$33.85$    1,425,676,631.8642,117,478.05
19411,080$33.85$    1,175,366,994.2034,722,806.33
19421,120$33.85$    1,218,899,105.1036,008,836.19
1943896$33.85$975,119,284.0828,807,068.95
1944813$33.85$884,790,153.9726,138,556.99
1945762$34.71$850,355,739.8424,498,868.91
1946860$34.71$959,719,076.4627,649,642.08
1947900$34.71$    1,004,357,173.0428,935,671.94
1948932$34.71$    1,040,067,650.3029,964,495.83
1949964$31.69$982,178,302.0030,993,319.72
1950879$34.72$981,204,777.4028,260,506.26
1951883$34.72$985,669,873.0828,389,109.25
1952868$34.60$965,576,942.4927,906,848.05
1953864$34.84$967,794,057.9727,778,245.06
1954965$35.04$    1,087,132,485.2331,025,470.47
1955947$35.03$    1,066,549,898.7730,446,757.03
1956978$34.99$    1,100,205,621.8231,443,430.17
19571,020$34.95$    1,146,141,965.5432,793,761.53
19581,050$35.10$    1,184,915,765.9433,758,283.93
19591,130$35.10$    1,275,195,062.4036,330,343.66
19601,190$35.27$    1,349,408,630.7738,259,388.45
19611,230$35.25$    1,393,975,995.7139,545,418.32
19621,290$35.23$    1,461,145,335.5141,474,463.11
19631,340$35.09$    1,511,747,395.5843,082,000.44
19641,390$35.10$    1,568,602,775.8744,689,537.77
19651,440$35.12$    1,625,953,277.6546,297,075.10
19661,450$35.13$    1,637,710,805.6846,618,582.57
19671,420$34.95$    1,595,609,403.0145,654,060.17
19681,440$39.31$    1,819,938,022.3446,297,075.10
19691,450$41.28$    1,924,415,088.4946,618,582.57
19701,480$36.02$    1,713,943,440.9547,583,104.97
19711,450$40.62$    1,893,646,823.9946,618,582.57
19721,390$58.42$    2,610,762,796.7644,689,537.77
19731,350$97.39$    4,227,067,635.3543,403,507.91
19741,250$      154.00$    6,189,018,720.5040,188,433.25
19751,200$      160.86$    6,206,122,917.6938,580,895.92
19761,210$      124.74$    4,852,685,798.3738,902,403.39
19771,210$      147.84$    5,751,331,316.5938,902,403.39
19781,210$      193.40$    7,523,724,814.8538,902,403.39
19791,210$      306.00$  11,904,135,436.1238,902,403.39
19801,220$      615.00$  24,122,705,173.9839,223,910.85
19811,280$      460.00$  18,930,359,598.0841,152,955.65
19821,340$      376.00$  16,198,832,166.9443,082,000.44
19831,400$      424.00$  19,084,683,181.7645,011,045.24
19841,460$      361.00$  16,945,372,503.0046,940,090.04
19851,530$      317.00$  15,593,433,608.4749,190,642.30
19861,610$      368.00$  19,048,674,345.5751,762,702.03
19871,660$      447.00$  23,856,496,992.1353,370,239.36
19881,870$      437.00$  26,273,268,614.0560,121,896.14
19892,010$      381.00$  24,621,363,253.7564,623,000.67
19902,180$      383.51$  26,879,689,566.2770,088,627.59
19912,160$      362.11$  25,146,950,798.8669,445,612.66
19922,260$      343.82$  24,982,197,512.9972,660,687.32
19932,280$      359.77$  26,372,472,957.7673,303,702.25
19942,260$      384.00$  27,901,703,929.3472,660,687.32
19952,230$      383.79$  27,516,271,133.8871,696,164.92
19962,290$      387.81$  28,552,592,579.1973,625,209.71
19972,450$      331.02$  26,074,223,341.8578,769,329.17
19982,500$      294.24$  23,650,089,198.9680,376,866.50
19992,570$      278.98$  23,051,397,286.2282,627,418.76
20002,590$      279.11$  23,241,610,748.3383,270,433.69
20012,600$      271.04$  22,656,759,732.0183,591,941.16
20022,550$      309.73$  25,393,029,398.2781,984,403.83
20032,540$      363.38$  29,674,663,280.7581,662,896.36
20042,420$      409.72$  31,878,185,430.6277,804,806.77
20052,470$      444.74$  35,317,845,915.9279,412,344.10
20062,370$      603.46$  45,982,004,217.4776,197,269.44
20072,360$      695.39$  52,763,246,120.4975,875,761.98
20082,290$      871.96$  64,198,237,862.2273,625,209.71
20092,450$      972.35$  76,591,357,218.4578,769,329.17
20102,500$  1,224.53$  98,423,884,335.2580,376,866.50
20112,500*$1,560.85**$        125,456,232,076.5380,376,866.50

*Estimated value for 2011.

**Cumulative average thru November 22, 2011, http://www.kitco.com/scripts/hist_charts/yearly_graphs.plx.

SOURCE: This table thru 2009 appears here: http://minerals.usgs.gov/ds/2005/140/gold.pdf.

3. But didn’t the Spanish get lots and lots of gold from the New World, especially from the Aztecs and Incas?

In fact, the Spanish got much more silver than gold from the New World. In the 16th century, when production was in full swing, the Spanish only got 154 metric tons of gold, whereas they got 7440 metric tons of silver. Gold production in the new world for the entire the 16thcentury was thus less than half of what it was worldwide in 1900. Here is a comparison, decade by decade, of Spanish gold and silver production in the New World in the 16th century:

Yearvalue in millions of pesosgold (in metric tons)silver (in metric tons)
1503-15101.1850
1511-15202.189.20
1521-15301.174.90
1531-15405.5814.586
1541-155010.4625178
1551-156017.8642.6303
1561-157025.3411.5943
1571-158029.159.41119
1581-159053.212.12103
1591-160069.619.52708

SOURCE: http://mygeologypage.ucdavis.edu/cowen/~GEL115/115ch8.html

4. How much gold, really, is 165,000 metric tons (the total mined throughout human history) and 2,500 metric tons (the total that’s currently mined annually)?

An Olympic swimming pool is 50 by 25 by 2 meters. It therefore contains 2,500 cubic meters of water. Each cubic meter of water is one metric ton. Gold is 19.3 times as dense as water. Therefore an Olympic swimming pool would contain 48,250 metric tons of gold. It follows that 3.42 Olympic-sized swimming pools could contain all the gold that’s ever been mined. Another way to imagine this is to think of all the gold in the world ever mined as a single cube. That would be a cube with each side just over 20 meters, or 67 feet, in length. Given that about 2,500 metric tons of gold is mined each year, this annual production of gold would fit in a cube whose sides were 5 meters, or 16.6 feet, in length. All the production of gold in the world for a given year would thus fit in a 20 by 30 foot room with an 8 foot ceiling.

5. Given 165,000 metric tons as an upper bound on available gold, how much does that leave to each human on the planet?

Humanity has just hit the 7 billion mark. That leaves just under 24 grams of gold to each person on planet earth, or .76 troy ounces or .83 ordinary ounces per person. In an ordinary male gold wedding band at 18-karat purity, there are about 5 grams of pure gold. That means every person on planet earth could own about 5 gold rings. At the current price of $1,750.00 per troy ounce of gold, that leaves $1,326.00 in gold for each person on planet earth. “Gold production has increased by a factor of 2.1 from 1959 to 2010. At the same time, the world population has been multiplied by a factor 2.2. Thus we produced more or less the same amount of gold per inhabitant as in 1959.” [QUOTE SOURCE: http://news.goldseek.com/Dani/1309290922.php)

6. How does the gold that’s mined get used?

52 percent gets used for jewelry, 18 percent constitute official holdings (as in central banks of nations), 16 percent take the form of investments, 12 percent find industrial uses, leaving 2 percent unaccounted for.

SOURCE: http://dollardaze.org/blog/?post_id=00479&cat_id=20

7. Which nations consume the most gold?

Since jewelry is the most common use of gold, gold consumption worldwide is most easily gauged by gold jewelry consumption. India is in this respect far and away the biggest consumer of gold. Here are the data for 2009 and 2010 of gold jewelry consumption by country in metric tons:

Country20102009% Change
India745.7442.3769
Greater China428376.9614
United States128.61150.28-14
Turkey74.0775.16-1
Saudi Arabia72.9577.75-6
Russia67.560.1212
United Arab Emirates63.3767.6-6
Egypt53.4356.68-6
Indonesia32.7541-20
United Kingdom27.3531.75-14
Other Gulf Countries21.9724.1-10
Japan18.521.85-15
South Korea15.8718.83-16
Vietnam14.3615.08-5
Thailand6.287.33-14
Total1805.61508.720
Other Countries254251.61
World Total2059.61760.317

SOURCE: See “Full Year 2010 Gold Demand Trends Report” available at http://www.gold.org/media/press_releases/archive/2011/02/global_gold_demand_in_2010_reached_a_10_year_high_in_tonnage_and_all_time_high_in_value/ as well as http://www.forexyard.com/en/news/Gold-jewellery-consumption-by-country-2011-02-28T130619Z-FACTBOX.

8. Where does the world’s gold get produced?

Here is the breakdown of 100 top gold-producing nations in the world for 2009. China sits at the top, with the United States the runner up:

 2009 Production by Country2009 (in kilograms)
1China320,000
2United States223,000
3Australia222,000
4South Africa197,698
5Russian Federation190,693
6Peru182,391
7Indonesia130,000
8Canada97,367
9Uzbekistan90,000
10Ghana86,000
11Papua New Guinea66,000
12Brazil60,000
13Mexico51,393
14Colombia47,837
15Argentina47,000
16Mali42,000
17Chile40,834
18Tanzania, United Republic Of40,000
19Philippines37,047
20Kazakhstan22,000
21Guinea18,083
22Kyrgyzstan16,950
23Burkina Faso13,500
24New Zealand13,442
25Suriname12,193
26Turkey12,000
27Venezuela10,500
28Mongolia9,803
29Guatemala8,485
30Guyana8,183
31Mauritania8,000
32Japan7,000
33Finland7,000
34Bolivia7,000
35Côte D’ivoire6,573
36Senegal5,600
37Saudi Arabia5,500
38Sweden5,000
39Lao People’s Democratic Republic5,000
40Zimbabwe4,200
41Bulgaria4,200
42Spain3,450
43Nicaragua3,400
44Ethiopia3,400
45Viet Nam3,000
46Thailand3,000
47India2,800
48Malaysia2,794
49Uruguay2,180
50Honduras2,127
51Ecuador2,092
52Namibia2,022
53Congo, The Democratic Republic Of The2,000
54Korea, Democratic People’s Republic Of2,000
55French Guiana2,000
56Niger2,000
57Georgia2,000
58Botswana2,000
59Sudan1,922
60Cameroon1,600
61Uganda1,600
62Zambia1,500
63France1,500
64Tajikistan1,361
65Morocco1,200
66Denmark1,117
67Fiji1,040
68Algeria1,010
69Armenia944
70Poland814
71Panama800
72Burundi750
73Liberia600
74Mozambique511
75Serbia500
76Costa Rica500
77Greece500
78Italy450
79Iran, Islamic Republic Of400
80Romania400
81Azerbaijan353
82Gabon300
83Kenya300
84Nigeria200
85Sierra Leone200
86Equatorial Guinea200
87Slovakia200
88United Kingdom185
89Korea, Republic Of175
90Dominican Republic173
91Myanmar100
92Chad100
93Congo100
94Madagascar70
95Eritrea30
96Oman28
97Rwanda20
98Benin20
99Central African Republic10
100Belize5

SOURCES: http://www.indexmundi.com/minerals/?product=gold&graph=production and http://www.indexmundi.com/en/commodities/minerals/gold/gold_t8.html. See also http://www.dani2989.com/gold/goldproduction2011gb.html.

9. What’s happening with gold prices?

The trend since 1900 has been rising gold prices with occasional sharp volatility. See the table in question 2 for the history of gold prices from 1900 to the present. Here is a graph of gold prices over the last fifty years, which includes also gold prices adjusted for inflation:

SOURCES: http://en.wikipedia.org/wiki/File:Gold_price_in_USD.png and http://minerals.usgs.gov/ds/2005/140/gold.pdf.

Here’s what’s happened with gold prices in the last decade:

SOURCE: http://www.kitco.com.

Here’s what’s happened with gold in the last year (2011):

SOURCE: http://www.kitco.com.

10. Who’s got the gold that’s used for monetary and investment purposes and how much of this type of gold is out there?

In 2011, about 2,100 metric tons of gold appeared in what are known as exchange-traded funds (ETFs). The lion’s share was in one fund: 1,240 metric tons in SPDR Gold Shares (http://www.spdrgoldshares.com). As of 2009, the International Monetary Fund (IMF) held 3,217 metric tons of gold. In 2010, the central banks of nations held a total of 28,398 metric tons of gold. Here is the breakdown:

 Gold Reserves in Central Banksmetric tons% of forex reservesvalue @ $1750 per troy oz.
1United States USA                                      8,133.5074.70%$457,621,670,574.43
2Germany                                      3,401.0071.70%$191,353,206,076.55
3Italy                                      2,451.8071.40%$137,947,600,899.29
4France                                      2,435.4066.10%$137,024,874,471.87
5China                                      1,054.101.70%$59,307,678,484.36
6Switzerland                                      1,040.1016.40%$58,519,985,192.66
7Qatar                                         950.307.10%$53,467,495,364.47
8Russia                                         775.206.70%$43,615,702,837.56
9Japan                                         765.203.00%$43,053,064,772.06
10Netherlands                                         615.5059.40%$34,630,372,931.53
11India                                         614.808.10%$34,590,988,266.94
12Republic of China (Taiwan)                                         466.904.60%$26,269,571,278.20
13Portugal                                         421.6081.10%$23,720,820,841.48
14Venezuela                                         401.1052.40%$22,567,412,807.21
15Saudi Arabia                                         322.903.00%$18,167,583,135.00
16Iran — Islamic Republic of Iran                                         320.000.00%$18,004,418,096.00
17United Kingdom                                         310.3016.80%$17,458,659,172.47
18Lebanon                                         300.0027.60%$16,879,141,965.00
19Spain                                         281.6038.60%$15,843,887,924.48
20Austria                                         280.0056.20%$15,753,865,834.00
21Belgium                                         227.5036.80%$12,800,015,990.13
22Pakistan                                         184.4019.20%$10,375,045,927.82
23Philippines                                         175.9014.00%$9,896,803,572.15
24Algeria                                         173.604.50%$9,767,396,817.08
25Libya                                         143.805.60%$8,090,735,381.89
26Singapore                                         127.402.50%$7,168,008,954.47
27Sweden                                         125.7011.10%$7,072,360,483.34
28South Africa                                         124.9012.20%$7,027,349,438.10
29Turkey                                         116.106.00%$6,532,227,940.46
30Greece                                         111.7078.70%$6,284,667,191.64
31Romania                                         103.709.10%$5,834,556,739.24
32Poland                                         102.904.50%$5,789,545,694.00
33Mexico                                         100.103.80%$5,632,007,035.66
34Thailand                                            99.502.50%$5,598,248,751.73
35Australia                                            79.908.10%$4,495,478,143.35
36Kuwait                                            79.0013.50%$4,444,840,717.45
37Egypt                                            75.608.70%$4,253,543,775.18
38Indonesia                                            73.103.60%$4,112,884,258.81
39Kazakhstan                                            67.3010.00%$3,786,554,180.82
40Denmark                                            66.503.30%$3,741,543,135.58
41Argentina                                            54.704.50%$3,077,630,218.29
42Finland                                            49.1020.60%$2,762,552,901.61
43Bulgaria                                            39.909.90%$2,244,925,881.35
44Malaysia                                            36.401.50%$2,048,002,558.42
45Peru                                            34.703.60%$1,952,354,087.29
46Belarus                                            32.0024.50%$1,800,441,809.60
47Brazil                                            33.600.50%$1,890,463,900.08
48Slovakia                                            31.8065.40%$1,789,189,048.29
49Bolivia                                            28.3013.40%$1,592,265,725.37
50Ukraine                                            27.203.50%$1,530,375,538.16
51Ecuador                                            26.3031.00%$1,479,738,112.27
52Syria                                            25.800.00%$1,451,606,208.99
53Morocco                                            22.004.20%$1,237,803,744.10
54Nigeria                                            21.400.00%$1,204,045,460.17
55Sri Lanka Sri Lanka                                            17.5011.90%$984,616,614.63
56South Korea South Korea                                            14.400.20%$810,198,814.32
57Cyprus                                            13.9050.80%$782,066,911.05
58Bangladesh                                            13.505.20%$759,561,388.43
59Serbia                                            13.104.20%$737,055,865.81
60Netherlands Antilles                                            13.1036.30%$737,055,865.81
61Jordan                                            12.804.30%$720,176,723.84
62Czech Republic                                            12.701.20%$714,550,343.19
63Cambodia                                            12.4014.40%$697,671,201.22
64Laos                                              8.8036.50%$495,121,497.64
65Latvia                                              7.704.00%$433,231,310.44
66El Salvador                                              7.3010.60%$410,725,787.82
67Guatemala                                              6.905.30%$388,220,265.20
68Colombia                                              6.901.10%$388,220,265.20
69Republic of Macedonia, Former Yugoslav Republic of Macedonia                                              6.8012.70%$382,593,884.54
70Tunisia                                              6.800.00%$382,593,884.54
71Ireland                                              6.0011.80%$337,582,839.30
72Lithuania                                              5.803.80%$326,330,077.99
73Bahrain                                              4.700.00%$264,439,890.79
74Mauritius                                              3.906.80%$219,428,845.55
75Canada                                              3.400.20%$191,296,942.27
76Tajikistan                                              3.300.00%$185,670,561.62
77Slovenia                                              3.2013.40%$180,044,180.96
78Aruba                                              3.1017.70%$174,417,800.31
79Hungary                                              3.100.30%$174,417,800.31
80Kyrgyzstan                                              2.606.50%$146,285,897.03
81Luxembourg                                              2.2011.70%$123,780,374.41
82Hong Kong                                              2.100.00%$118,153,993.76
83Suriname                                              2.0011.40%$112,527,613.10
84Iceland                                              2.001.60%$112,527,613.10
85Papua New Guinea                                              2.002.90%$112,527,613.10
86Trinidad and Tobago                                              1.900.80%$106,901,232.45
87Albania                                              1.602.80%$90,022,090.48
88Yemen                                              1.601.10%$90,022,090.48
89Cameroon                                              0.901.20%$50,637,425.90
90Mongolia                                              0.902.40%$50,637,425.90
91Honduras                                              0.700.00%$39,384,664.59
92Paraguay                                              0.700.70%$39,384,664.59
93Dominican Republic                                              0.601.00%$33,758,283.93
94Gabon                                              0.400.80%$22,505,522.62
95Malawi                                              0.406.20%$22,505,522.62
96Central African Republic                                              0.308.40%$16,879,141.97
97Chad                                              0.302.40%$16,879,141.97
98Republic of the Congo                                              0.300.40%$16,879,141.97
99Uruguay                                              0.300.10%$16,879,141.97
100Fiji                                              0.200.00%$11,252,761.31

SOURCES:

http://www.gold.org/investment/statistics/reserve_asset_statistics and http://af.reuters.com/article/southAfricaNews/idAFLDE7551YW20110606.  

ADDITIONAL SOURCES:

http://money.howstuffworks.com/question213.htm [neat article on the world’s gold, titled “All the Gold in the World,” provides some background for this infographic]

http://www.forbes.com/sites/afontevecchia/2010/11/19/how-many-olympic-sized-swimming-pools-can-we-fill-with-billionaire-gold [describes how world’s gold fills 3.27 Olympic-sized swimming pools with gold, at 157,000 metric tons of above-ground gold in 2007 – these numbers have since increased, as reflected above]

More Gold Facts