ABSTRACT
One of the world’s largest gold producers, Anglo Gold Ashanti, produced almost four million ounces of gold during 2012. The jewellery sector accounted for 43 per cent of global gold demand during 2012, while the investment sector (including bar and coin stockpiles, and exchange-traded funds) constituted 35 per cent of the total demand. Industrial applications consumed 10 per cent of global production and central banks took up 12 per cent of the world’s total output. Gold used to make necklaces and earrings is one thing. Have you ever considered how central banks, like the South African Reserve Bank or the European Central Bank, account for their stockpiles of gold bullion?
