Gold in Your Backyard: Australians Should be Investing in Gold
Australia is rich in naturally occurring metal and mineral deposits. These deposits contributed greatly to the growth and continuing wealth of the country besides helping Australia fend off some of the crippling effects of the recent global economic crisis.
Australia leads the world in its mining industry, with great wealth drawn from mineral resources such as copper, diamonds, iron ore, manganese, uranium, rare earth elements and others. However, one particular discovery in Australia has historically been given more importance in its role as a catalyst to development as a nation. According to the Australian Bureau of Statistics’ Year Book Australia 1911, this discovery can even be said to have “precipitated Australia into nationhood.”
What is this historical discovery?
The resource referred in the above paragraph is gold. The official first Australian ‘Gold Rush’ occurred in 1851, following the mineral being discovered in New South Wales near Bathurst. From then on, the Australian economy has never looked back. In fact, today’s gold continues to be one of the nation’s top earning exports of around $14 billion per annum.
When first discovered in Australia, gold seekers created a giant population boom which gave the young nation the influx of immigration required to begin to build a strong economic foundation. When mining technology boomed again in the ’80s and ’90s, gold again gave the economy an injection of wealth.
Where does Australia stand in global gold resources?
With an estimated 11% of the Economic Demonstrated Resources of gold on the planet, Australia find itself among the gold leader Chile and closely following behind Indonesia, United States and Russia for top world production of gold. It will come as no surprise to most Australians that nearly half of all gold deposits are found in Western Australia, in gold mines like Kalgoorlie. Copies of all Australian identified mineral resources can be found on the Australian Government Geoscience Australia website.
Why should the ordinary Australians invest?
As citizens, Australians have the advantage of being located close to an excellent source for the purchase of gold coins and gold bullion. It is also convenient to open a gold account, knowing that your resources are held on shore. With a large hold on the market for gold mining and production, the Australian economy is relatively stable when it comes to gold, meaning that changing currency markets will not be as detrimental over the months and years when Australians invest in gold.
How to get started investing in gold?
It is easy for an Australian to begin investing in gold by directly contacting those producing gold or by using an intermediary source. There are any number of Australian companies which facilitate gold investment both at home and abroad. Look for content guaranteed by the “Commonwealth Government of Australia”. This guarantee is also recognised by important international certifications such as the London Good Delivery, the Swiss National Bank, the London Bullion Market Association, the London Platinum & Palladium Market, the Dubai Gold & Commodities Exchange, New York Commodities Exchange, the Tokyo Commodities Exchange, and the Chicago Board of Trade.
Article by Sharon Freeman who is a professional writer and has written number of guest posts, articles and other write-ups on a variety of subjects. This guest post is about investing in gold with companies like Australia Mint Bullion & Coin.