The world supply of gold is used in a variety of industries. Central banks, jewelry, and the technology industry all utilize gold in their procedures. Gold is used to back money, decorate, and also produce electronics. In fact, roughly all smartphones and GPS devices contain gold. Despite gold's prevalence in technological devices, mined amounts are used in production. Only 10% of the world's gold is used in industry, with the remaining 40% in investments and
50% in jewelry.
According to Investopedia.com, India leads the world in gold consumption with 136.6 tons in Q4 of 2019. China follows with 132.1 tons and the U.S. in third with 34.8 tons. Call the number on your screen if you'd like to learn more about gold's place in history or gold's place in your portfolio. Check out the Did you Know playlist on our YouTube page to see more interesting videos about gold.
