Who Decided Valuable Gold?

How much gold is left in the world?

About 244,000 metric tons of gold has been discovered to date (187,000 metric tons historically produced plus current underground reserves of 57,000 metric tons).

Most of that gold has come from just three countries: China, Australia, and South Africa..

Is there gold on the moon?

There is water on the moon … along with a long list of other compounds, including, mercury, gold and silver. … Turns out the moon not only has water, but it’s wetter than some places on earth, such as the Sahara desert.

What is the rarest metal on the earth?

franciumThe rarest stable metal is tantalum. The rarest metal on earth is actually francium, but because this unstable element has a half life of a mere 22 minutes, it has no practical use.

Who created gold?

The first gold coins were minted under the order of King Croesus of Lydia (a region of present-day Turkey) in about 560 BC. Gold coins were commonly used in transactions up through the early 1900s when paper currency became a more common form of exchange.

Who first mined gold?

The exact date that humans first began to mine gold is unknown, but some of the oldest known gold artifacts were found in the Varna Necropolis in Bulgaria. The graves of the necropolis were built between 4700 and 4200 BC, indicating that gold mining could be at least 7000 years old.

How old is the gold on Earth?

around 3 billion yearsAn international team of geologists led by the University of Arizona has discovered that the gold is around 3 billion years old – older than its surrounding conglomerate rock by a quarter of a billion years.

Is Diamond rarer than gold?

Only a highly prized diamond, like a very large stone or an unusual color, will hold its value or become more valuable over time. Since there is so much variability in the four C’s and there is no set unit price that is recognized in worldwide markets, diamonds are valuable but not as valuable as gold.

What country has most gold?

According to data compiled by the World Gold Council, here’s a list of the top 10 countries holding the highest official gold reserves:United States. Tonnes: 8,133.5. … Germany. Tonnes: 3,363.6. … Italy. Tonnes: 2,451.8. … France. Tonnes: 2,436. … Russia. Tonnes: 2,299.2. … China. Tonnes: 1,948.3. … Switzerland. Tonnes: 1,040. … Japan.More items…•

Does gold grow?

Money doesn’t grow on trees — but gold might. An international team of scientists has found a way to grow and harvest gold from crop plants. Called phytomining, the technique of finding gold uses plants to extract particles of the precious metal from soil.

Where did all the gold on Earth come from?

During the formation of Earth, molten iron sank to its centre to make the core. This took with it the vast majority of the planet’s precious metals — such as gold and platinum. In fact, there are enough precious metals in the core to cover the entire surface of Earth with a four-metre thick layer.

How did gold get its value?

The Bottom Line The metal is abundant enough to create coins but rare enough so that not everyone can produce them. Gold doesn’t corrode, providing a sustainable store of value, and humans are physically and emotionally drawn to it. Societies and economies have placed value on gold, thus perpetuating its worth.