Everything You Need to Know About Gold

Date Posted: 26-04-2016

Gold storage

No, we’re not talking about a classic catchy tune by an 80s band, we’re talking about the element discovered thousands of years ago and now commonly found in jewellery, electrical connectors and even food and drink. 

Jewellery accounts for 60% of the world gold demand each year while 10% of the world consumption goes to the electricals industry with a typical mobile phone containing around 50mg of gold. Food and drink may not be the first things we think of when we think of gold but gold leaf, flake or dust is commonly used within the gourmet food industry as both edible and decorative elements.

So, what else do you need to know about gold?

Five Things You May or May Not Know About Gold

1.  Aurophobia is the fear of gold.

2.  The most expensive gold coin sold for $7.6 million in 2002.

3.  Indian housewives hold 11% of the world’s gold – more than the reserves of the US, IMF, Switzerland and Germany put together.

4.   The largest gold coin in the world is the one tonne Australian Kangaroo which is legal tender worth $1m Australian Dollars

5.   Our bodies contain about 0.2mg of gold, mostly in the blood.

Gold Prices

Gold prices can fluctuate daily but on last check gold prices were as follows;

  • Gold Ounce - £849.11
  • 24 Carat Gold Gram - £27.30
  • 22 Carat Gold Gram - £25.03
  • 21 Carat Gold Gram - £23.89
  • 18 Carat Gold Gram - £20.47
  • 14 Carat Gold Gram - £15.93
  • 12 Carat Gold Gram - £13.65
  • 10 Carat Gold Gram - £11.38

Gold Resurgence

In the first three months of 2016, the price of gold has soared to levels not seen since way back in 2011. While no one can be completely sure whether the cost of gold will continue to rise, it has sparked an increase in purchases of the precious metal. Among the buyers are a number of Central Banks who have been using it to bolster their gold reserves. They have been buying up gold since the financial crisis but buying accelerated last year with over 336 tonnes of gold purchased in the last half of the year.

Storing Your Gold

Here at The Safe Deposit Centre Manchester, we provide secure safe deposit boxes in a wide range of sizes for your gold. Whether you want to protect jewellery, coins, gold bars or more, we have the perfect solution. For more information about how to open an account, take a look around our website or call the team today on 0161 273 7487.

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