Gold Market Analysis – Selected Aspects

Abstract

Metals and precious stones are precious mineral raw materials. Precious metals include gold, silver, and platinum, while the group of precious stones includes, among others: diamonds, rubies, emeralds, sapphires, and many others. Gold as a mineral has no significant economic importance and as a metal, it is of little use. However, it has long been a symbol of power, wealth, and security. This symbolism is the basis of the value of this precious metal. The article discusses selected aspects of the gold market. It presents information on the origin of gold and the location of places with the largest gold deposits in the world. It presents the largest gold producers and leading mines, where the level of extraction accounts for almost 12% of global gold mining. It presents possible directions for the use of gold, which is used mainly in the jewelry industry, in dentistry, and as an investment. Additionally, the social and natural aspects of gold mining were presented. The authors pay particular attention to illegal "mines" that do not comply with fair trade activities and whose activities degrade a large scale of rainforest areas.