Gold Is Rare and Valuable - 11 Must See Gold Visualisations
Gold Rarity and Value Shown In Stunning Gold Visualisationsby Jeff Desjardins of Visual Capitalist
Since Ancient times, gold has served a very unique function in society.
Gold is extremely rare, impossible to create out of "thin air", easily identifiable, malleable, and it does not tarnish. By nature of these properties, gold has been highly valued throughout history for every tiny ounce of weight. That's why it's been used by people for centuries as a monetary metal, a symbol of wealth, and a store of value.
Visualizing Gold's Value and Rarity
With all that value coming from such a small package, sometimes it is hard to put gold's immense worth into context.
The following 11 images help to capture this about gold, putting things into better perspective.
1. The U.S. median income, as a gold cube, easily fits in the palm of your hand.
2. A gold cube worth $1 million, has sides that are 2/3 the length of a typical banknote.
3. All gold used for electrical connections in the Columbia Space Shuttle would be worth $1.6 million today.
4. Trump's entire fortune of $3.7 billion as a gold cube would be shorter than Trump himself.
5. As a gold cube, the entire value of the Bitcoin market would fit in a hallway.
6. The fortune of the richest man on Earth, Bill Gates, would take up a single traffic lane.
7. The world's entire annual production of gold is just a 5.5m sided (18 ft) cube.
8. Take the 147.3 million oz of gold out of Fort Knox, and it's only slightly bigger.
9. All gold held by the Central Banks pales in comparison to the Brandenburg Gate.
10. All gold mined in human history is dwarfed by the Statue of Liberty.
11. To pay off $63 trillion of global sovereign debt, you'd need a gold cube the size of a building.
News and Commentary
Gold prices extend gains after dovish Fed stance (Reuters.com)
Nikkei, Kospi slide as automaker stocks tumble on new Trump tariff threat (MarketWatch.com)
Fed indicates it will let inflation run above 2 percent goal for 'temporary period' (CNBC.com)
Stock market stages rebound after Fed minutes hint at gradual rate hikes (MarketWatch.com)
U.S.-China trade deal 'too hard to get done,' Trump says (Reuters.com)
Source: Bloomberg.com
Gold miner AngloGold Ashanti to cut South Africa jobs as costs rise (Fin24.com)
Marshall Islands replaces U.S. dollar with its own cryptocurrency (TheVerge.com)
Blockchain Will Completely Revolutionize How We Mine Gold and Precious Metals (USFunds.com)
Gold Prices (LBMA AM)
23 May: USD 1,294.00, GBP 967.91 & EUR 1,102.88 per ounce22 May: USD 1,293.90, GBP 961.24 & EUR 1,095.29 per ounce21 May: USD 1,285.85, GBP 959.24 & EUR 1,095.67 per ounce18 May: USD 1,287.20, GBP 954.20 & EUR 1,091.16 per ounce17 May: USD 1,288.85, GBP 952.07 & EUR 1,090.50 per ounce16 May: USD 1,291.75, GBP 958.61 & EUR 1,093.60 per ounce15 May: USD 1,310.05, GBP 966.42 & EUR 1,098.35 per ounce
Silver Prices (LBMA)
23 May: USD 16.53, GBP 12.38 & EUR 14.11 per ounce22 May: USD 16.58, GBP 12.32 & EUR 14.04 per ounce21 May: USD 16.34, GBP 12.19 & EUR 13.91 per ounce18 May: USD 16.39, GBP 12.16 & EUR 13.92 per ounce17 May: USD 16.39, GBP 12.14 & EUR 13.90 per ounce16 May: USD 16.26, GBP 12.07 & EUR 13.79 per ounce15 May: USD 16.41, GBP 12.12 & EUR 13.77 per ounce