MINERALS: GOLD

WHY IN NEWS?

Saudi Arabia discovers massive gold reserves in Makkah region

GOLD

ORES:

It is most commonly found as disseminated grains in quartz veins with pyrite and other sulphides, or as rounded grains, flakes or nuggets in placer deposits in recent to ancient stream and river deposits.

Sylvanite and calaverite are gold-bearing minerals

USES

It is the most malleable and ductile of any element and it can be beaten into a metallic film a few microns thick.

It is also used in jewelry, dental work, electrical contacts and wires, photography, and as a colored coating for special types of glass.

Gold is good at reflecting heat, and it is often used as a plating on spacecraft to keep them cool

GLOBAL PRODUCTION

World’s leading producers:

1.China (10% of global production)

Russia, Australia, Canada, USA     

WORLDWIDE RESERVES

Largest reserve with

1. Australia 10,000 T
2. Russia 5,300 T
3. South Africa 3,200T
4. US 3000T

(Approximate figures)

GLOBAL CONSUMPTION

China and India are 2 largest consumers of gold in the world.

GLOBAL TRADE

EXPORT:

In 2022, the top exporters of gold based on value were 

1.Switzerland

UK, UAE, USA etc.

IMPORTS

In 2022 top importers of gold based on value were

1.Switzerland

China,UK etc.

India imports most of its gold from 1. Switzerland, UAE, South Africa, Peru etc.

Gold is the 2^nd most imported product in India following crude petroleum