gold is highly valued and in very limited supply it has long been used as a medium of exchange or money. The first known use of gold in transactions dates back over 6000 years. Early transactions were done using pieces of gold or pieces of silver. The rarity, usefulness and desirability of gold make it a substance of long term value. Gold works well for this purpose because it has a high value, is durable, portable and easily divisible. Some early printings of paper money were backed by gold held in safe keeping for every unit of money that was placed in circulation.
top export of Switzerland, Hong Kong, South Africa, Peru, Ghana, the Dominican Republic, Papua New Guinea, Tanzania, Lebanon and Burkina Faso.
top import of Hong Kong, Switzerland, Turkey, the United Arab Emirates and Brunei
Current Gold Consumption
Gold demand dropped 12% to a six-year low of 914.9 tones in a challenging quarter. Despite pockets of strength, demand was down in all sectors. Supply declined by 5% year-on-year. Consumer demand falls in India and China. These markets accounted for almost half the fall in global demand.
Ref: http://atlas.media.mit.edu/en/profile/hs92/7108/, http://minerals.usgs.gov/minerals/pubs/commodity/gold/mcs-2015-gold.pdf, file:///C:/Users/anshul/Downloads/GDT_Q4_2014.pdf, http://www.gold.org/gold-mining