Prices elevated rapidly from 2001, however the 1980 excessive was not exceeded until 3 January 2008, when a brand new most of $865.35 per troy ounce was set. Another record price was set on 17 March 2008, at $1023.50 per troy ounce ($32.91/g). Federal Reserve Bank in New York, which holds about three% of the gold identified to exist and accounted for right now, as does the equally laden U.S. In 2005 the World Gold Council estimated whole international gold provide to be 3,859 tonnes and demand to be 3,754 tonnes, giving a surplus of 105 tonnes.
By 2014, the gold jewellery industry was escalating despite a dip in gold prices. Demand within the first quarter of 2014 pushed turnover to $23.7 billion according to a World Gold Council report. However, the price then began a gradual decline in direction of $1200 per troy ounce in late 2014 and 2015.… Read More