Gold prices are often seen a hedge against uncertainty and inflation. According to the World Gold Council, at a price of $US1,257 per ounce, the value of above-ground gold is worth more than $US7 trillion dollars! Meaning, it’s worth at least 400% more than all shares on the Australian sharemarket ($US1.5 trillion).
As of January 2018, here’s where the value of gold could be found: 47% in jewellery, 17% in the official sector, 20% in bars and coins, 1% in ETFs and managed funds, and 14% in fabrication and unaccounted for. Investors could track the price of gold using an ASX gold ETF.