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Gold Markets
What country produces the most gold?
From 1905 to 2006, South Africa was the world's leading gold producer. Since 2007 it has been surpassed by China.
What country consumes the most gold?
India is by far the world's largest consumer of gold, with some 800 metric tons -- approximately one fourth of global production -- going to the hands of Indian consumers and businesses. About half of India's gold consumption is imported.
How is the price of gold determined?
The price of gold fluctuates not only day by day, but can have wide variance both during the trading day, as well as from place to place. The London Spot Price or "Gold Fix" is provided as a reference for the broad market.
What is the London Gold Fix?
The Gold Fix or London Gold Fix is a twice-daily meeting which takes place to provide a market price for the settling of gold futures contracts on the London market. The price issued by the Gold Fix is used as a benchmark for gold prices worldwide.
The Fix is determined by five members of the London Bullion Masters Association: Barclays Capital, Deutsche Bank, HSBC, Scotia-Mocatta and Societe Generale.
What is the highest price gold ever achieved?
The current gold price record is $1,810.00 per ounce, set on 10 August 2011. In inflation-adjusted figures, the high of $850 hit on 21 January 1980 remains the record, as this equates to well over $2,000 per ounce after accounting for inflation.