Gold and Silver Buyers
Little Known Facts about Gold and Silver
Did you Know??
- The term “gold” is the from the Proto-Indo-Europeanbase ghel / ghol meaning “yellow”, “green”, or possibly “bright”.
- The chemical symbol for gold is AU, from the Latin word aurum meaning “shining dawn” and from Aurora, the Roman goddess of the dawn. In 50 B.C., Romans began issuing gold coins called the Aureus and the smaller solidus.
- Did you know that Gold melts at 1064.43° Centigrade. It can conduct both heat and electricity and it never rusts.
- Did you know that all the gold ever mined by man since the dawn of time would fit into 2 olympic swimming pools.
- Did you know that the biggest miner and producer of gold is now China, overtaking South Africa, which has for years been the world leader of Diamond and Gold mining.
- Did you know that in terms of raw material there is about twenty times more silver than gold, but in terms of metal reserves Gold globally has about 1.2 billion ounces where as silver only has about 200 million ounces.
- Gold has always been admired by humans and its use can be traced as far back as the bronze age 5000 years ago.
The Topsy-Turvy Price of Gold
The rise in the price of gold over the past few years is almost unbelievable. If you look at a graph that charts the price of gold over the last 10 years you can see a meteoric rise in the gold price.
In 2002, one troy ounce of gold would sell for around US$300. Apart from a sharp downturn around 2008 when the financial crisis first hit, the rise in the price of gold has been fast and consistent.
Gold is now trading at over US$1700 per troy ounce.
Silver has also mirrored the rise in the price of gold over the past decade. 2002 saw the price of silver hovering around US$5 per ounce. Nowadays the price of silver is well over US$30 per troy ounce. Continue reading
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