100 thousand tons of gold reserves for the world in 2010

Gold price technical analysis 30 - May, 2013

Economic reports revealed that the volume of gold reserves in the world amounted to 100 thousand tons in 2010, and is distributed mainly in South Africa, Russia, China, Australia, Indonesia and the United States and other countries.

South Africa leads the world possessing a reserve of gold of 31 thousand tons, and Russia came in second place by about 7000 tons, and China in third place with 6328 tons.
According to news agency Xinhua quoted the report issued by the World Gold Council recently that the global demand for gold reached 4067.1 tons in 2011, and a $ 205.5 billion Dolaromraky, where he scored the required size of gold set a record a year ago, This is the first time that exceed the the value of gold to be $ 200 billion U.S. dollars.

The report pointed out that the investment field presented the most important driving force for the high demand for gold reached where the annual demand for gold 1640.7 tons, up 5% compared to 2010. And China and India are important markets of demand for gold, where China and India occupied 55% of global demand for gold jewelry and 49% of the total global demand for gold.

The report pointed out that the volume of gold demand reached 769.8 tons in China in 2011, up 20% due to increased investment demand and the demand for gold as it hit investment demand for gold 258.9 tons worth 84.5 billion yuan (one U.S. dollar equals about 6.3 yuan) in China, year 2011, up 69% saw the demand for gold jewelry rose in each quarter of 2011 in China, and China has become the largest market for jewelery in the world in the second half of 2011.

According to the Ministry of Land and Resources of China that the volume of gold production in China last year reached 360.96 tons, and thus lead China for the fifth year in a row the list of gold producers in the world.
And achieved the production of gold in China last year, an increase of 20 tonnes compared to 2010, ie an increase estimated at 5.89%.Experts predict that China’s rising production of gold by 100 tons to 400 tons in the coming years with an annual total demand for gold, 800 tons. Where there is still a wide horizon for increasing the quantity of production and demand for gold.

He Yong, Zhang Tao, Vice President Jmaahalzhb China’s trade volume for all kinds of gold products amounted to 6046.064 tonnes in 2010 in the Shanghai Stock Exchange China for gold, the world, leaders in terms of volume traded gold in online transactions.

For his part, said Lu Chao, an analyst in the main network that gold investment strategy of violent fluctuations in asset prices caused by the financial crisis in 2008, supported the request for Chinese investors to gold as a safe haven. And the continuous development and improvement of the gold market in China, and increased investment in gold products, the ordinary people choose to invest in some gold products.

In the face of rising inflation, the price level, and considering that gold is a hedge of the latter has become a favorite among people in most cases.
In Europe, Turkey topped the gold production at a time when gold prices rise due to global volatility experienced by the global economy.

The report showed issued by the Stock Exchange “Istanbul” for gold that Turkey produced about 17 tonnes of gold last year, occupies first place in the European gold production, followed by Sweden, which produced 6.3 tons and Finland ranked third in production of 5.7 tonnes of gold.

The report added that gold production in Turkey increased about seven times in 2011 within 10 years after the rate ranges at two tons and attributed the high volume of gold production to higher gold prices internationally, pointing out that the use of modern methods of production and exploration of the yellow metal rose also from the volume of production Over the past decade to reach 82 tons.
According to the report, the volume of production of the European Union of 34.6 tons of gold in 2010, almost half of Turkey.

In Australia the company Serbiton Associates Investments, which is based in Melbourne, surveyed in the gold sector has shown that scanning through the results that have been published recently that Australia raised the production of gold by 24 tons, equivalent to 10% of the total production of Australia’s gold in the year 2010-2011 fiscal boost production after 270 tonnes of gold as a way to benefit one way or another from the record levels reached historic price of gold recently, and this level is noteworthy that Australia recorded the second spot in the production of gold after China.

In South Africa gold production recorded a decline of 6.4% over the past year, to move the country away from its former countries of the world’s largest producer of yellow metal. The Chamber of Minerals in South Africa that the production of gold declined over the last year, posting 191.8 thousand kilograms.

And remained “South Africa” ​​the largest gold producer in the world for a long time during the last century until 2006, that the decline in production due to lower degrees of drilling in the mines, called a number of companies to stop work for safety reasons it has become a drill is not the highest levels of the deepest than ever, reaching a distance of drilling in the mines of South Africa to 4 kilometers to get gold.

The gold production in South Africa declined during the last quarter of 2010 by 1.6% to record 49.7 thousand kg compared to the third quarter, falling by about 3.