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What is gold used for ?
Gold is used in a lot of different sectors. According to the World Gold Council (WGC), the average total annual demand for gold in the world was 4 282 tonnes between 2008 and 2017. The average annual supply between 2008 and 2017 was met by mining production (2 893.2 tonnes) and recycling (1 413.5 tonnes), for a total of 4 306.7 tonnes.
The 4 282 tonnes of gold demanded in the world was used at 2 233 tonnes (52.1%) for jewelry, 1 177 tonnes (27.5%) for bar and coins , 384 tonnes (9.0 %) by the technology sector (mainly electronic), 147 tonnes (3.4%) ETFs and similar products and 341 tonnes (8.0%) by central banks.
Gold Monthly Price in US Dollars per Dry Metric Ton
Gold (UK), 99.5% fine, London afternoon fixing, average of daily rates
Source: World Bank
Producers countries in the world
|Rank||Country||Production by country in 2019 (metric tons)|
|16||Papua New Guinea||70|
Map of the Gold production by country
Map with the major Gold deposits in the world
Gold reserves by country
|Rank||Country||Reserves by country in 2019 (metric tons)|
|1||Other countries||10 000|
|4||South Africa||3 200|
|5||United States||3 000|
|16||Papua New Guinea||1 000|