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Gold Is Rare and Valuable – 11 Must See Gold Visualisations


 -- Published: Thursday, 24 May 2018 | Print  | Disqus 

by 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.

U.S. Median Income as a Gold Cube

2. A gold cube worth $1 million, has sides that are 2/3 the length of a typical banknote.

One Million Dollars as a Gold Cube

3. All gold used for electrical connections in the Columbia Space Shuttle would be worth $1.6 million today.

All the Gold in the Columbia Space Shuttle in a Cube

4. Trump’s entire fortune of $3.7 billion as a gold cube would be shorter than Trump himself.

Donald Trump's fortune in a Gold Cube

5. As a gold cube, the entire value of the Bitcoin market would fit in a hallway.

The Bitcoin Market's Value as a Gold Cube

6. The fortune of the richest man on Earth, Bill Gates, would take up a single traffic lane.

Bill Gates' Wealth as a Gold Cube

7. The world’s entire annual production of gold is just a 5.5m sided (18 ft) cube.

Annual Gold Production a Gold Cube

8. Take the 147.3 million oz of gold out of Fort Knox, and it’s only slightly bigger.

All the Gold in Fort Knox Visualized as a Cube

9. All gold held by the Central Banks pales in comparison to the Brandenburg Gate.

The World's Central Banks Holdings as a Gold Cube

10. All gold mined in human history is dwarfed by the Statue of Liberty.

All Gold Mined in Human History Visualized as a Cube

11. To pay off $63 trillion of global sovereign debt, you’d need a gold cube the size of a building.

All Global Debt Visualized as a Gold Cube

Courtesy of Visual Capitalist

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

American Default – U.S. government’s devaluation of the dollar, repudiation of debt, and confiscation of monetary gold in 1933 (Part II) (Bloomberg.com)

Gold miner AngloGold Ashanti to cut South Africa jobs as costs rise (Fin24.com)

Spanish Galleon Laden with L13 billion in Gold Found at Bottom of Caribbean Sea, 300 Years after Sinking (Independent.co.uk)

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 ounce
22 May: USD 1,293.90, GBP 961.24 & EUR 1,095.29 per ounce
21 May: USD 1,285.85, GBP 959.24 & EUR 1,095.67 per ounce
18 May: USD 1,287.20, GBP 954.20 & EUR 1,091.16 per ounce
17 May: USD 1,288.85, GBP 952.07 & EUR 1,090.50 per ounce
16 May: USD 1,291.75, GBP 958.61 & EUR 1,093.60 per ounce
15 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 ounce
22 May: USD 16.58, GBP 12.32 & EUR 14.04 per ounce
21 May: USD 16.34, GBP 12.19 & EUR 13.91 per ounce
18 May: USD 16.39, GBP 12.16 & EUR 13.92 per ounce
17 May: USD 16.39, GBP 12.14 & EUR 13.90 per ounce
16 May: USD 16.26, GBP 12.07 & EUR 13.79 per ounce
15 May: USD 16.41, GBP 12.12 & EUR 13.77 per ounce

https://news.goldcore.com/

 


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 -- Published: Thursday, 24 May 2018 | E-Mail  | Print  | Source: GoldSeek.com

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