Some Facts about the "Price of Gold"

Latest Update: Aug 26 2013

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Gold Prices between 1833 and 1918 seem to maintain an Average Yearly Price, just under $19.00 per ounce.

In 1968 it was decided to let Gold prices change freely.
At that time, I was positive it was going to go Up Significally
but on my Low Earnings I couldn't afford to buy just One Ounce of it.

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1971 to 2013 US Gold Prices

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2003 to 2008 Canadian & US Gold Prices

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The Canadian Dollar Verses US Gold Prices

If you compare the US and Canadian Dollar gains between 2002 and 2005,
You will find a Substantial Difference.

This is because of the Rising Canadian Dollar.

So those Canadians that think there really doing good are Not.
Between January 2003 to About the Middle of October 2005, (In Canadian Dollars) Gold prices rose from about $511.00 to $558.00.
This was a Gain of $47.00 Canadian, per Troy Ounce.

And although the Americans are getting a Substantial gain,
Its only because there Dollar is Depreciating.

In this Same Period, in US Dollars, Gold prices rose from about $325.00 to $475.00.
This was a Gain of $150.00 US, per Troy Ounce.

Here is a 99.99% Pure, 1 Kg Gold bar.


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As of: March, 2012.

The USA has 8,000 Tons of gold in Reserve.
Considering their National Debt, that is not very much.
It is Less than one Ounce for every person in the USA.

The Largest Private Storage Vault in the world is in London, England, in a Very Secret Location.
It has 1,200 Metric Tons of Gold bars.
Each bar is 400 ounces in size, so aproximately 40,000,000 Ounces of gold.

The Total amount of gold that has been mined to-date (Start of 2012) is 166,000 Metric Tons.
166,000 Metric Tons = 5,336,900,000 Troy Ounces = 165,996,145,333.92 Grams.
This is just enough gold to fill Two, Olympic Size Swimming Pools.

Almost all of the gold near the Earths surface has now been Mined.
So now Most Mines are quite Deep down.
The Oceans contain "Lots of gold", But the Cost to Extract it is Too Expensive.

The Deepest Gold Mine is in South Africa and it is over 2 Miles deep,
and the Longest tunnel at that depth is 36 Miles long.
The Temperature at this 2.2 Miles down is about 100 Degrees with the Air Circulation Operating.
Without the Air Circulation, the Temperature Quickly Rises to over 150 Degrees.


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Chemelec

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