History of Gold – How the gold industry has changed over 50 years
Thomson Reuters GFMS have compiled an interesting high level history of the gold industry in the last fifty years.
Topics covered and interesting historical facts to note include:
– Gold market size
– Gold mine production “peaked in 2015”
– South African production collapse from 1,000 tonnes
– South African gold was flown to London and Zurich and an airliner had its own designated landing areas at Heathrow where gold moved directly from the place to secure vaults
– It may still do – that is shrouded in secrecy!
– Political concerns in France in 1968 saw massive demand
– Strong demand in Japan in late 1980s when insurance companies were investing up to 3% of portfolios in gold
– Record demand in the wake of the financial crisis
– Investment in gold – Coin and bar demand rising globally
– Massive uptake of bullion in the Far East, especially China
– History of gold shows gold’s continuing importance as safe haven asset
Demand for physical gold investment. Source: GFMS Gold Survey
GFMS Gold Survey is recognized as an important source of information on developments in the gold market and have celebrated the Gold Survey’s 50th anniversary, by conducting a high-level look at the history of the gold market in the past half century.
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Gold Prices (LBMA AM)
12 May: USD 1,227.90, GBP 955.06 & EUR 1,129.55 per ounce
11 May: USD 1,221.00, GBP 945.66 & EUR 1,122.95 per ounce
10 May: USD 1,222.95, GBP 944.61 & EUR 1,124.99 per ounce
09 May: USD 1,225.15, GBP 948.51 & EUR 1,124.20 per ounce
08 May: USD 1,229.70, GBP 948.71 & EUR 1,123.45 per ounce
05 May: USD 1,239.40, GBP 958.06 & EUR 1,130.33 per ounce
04 May: USD 1,235.85, GBP 958.15 & EUR 1,131.05 per ounce
Silver Prices (LBMA)
12 May: USD 16.30, GBP 12.68 & EUR 14.99 per ounce
11 May: USD 16.37, GBP 12.70 & EUR 15.06 per ounce
10 May: USD 16.29, GBP 12.59 & EUR 14.99 per ounce
09 May: USD 16.22, GBP 12.55 & EUR 14.88 per ounce
08 May: USD 16.38, GBP 12.64 & EUR 14.96 per ounce
05 May: USD 16.27, GBP 12.58 & EUR 14.85 per ounce
04 May: USD 16.50, GBP 12.80 & EUR 15.09 per ounce
