01.11.2013 - Did gold really add over $210 bln to the global economy in 2012?
The World Gold Council is obviously a pro-gold group, but they frequently offer great insight into the world of gold. We even noticed that at the start of 2013, their report was full of such less bullish comments that it seemed to tell you to expect a bad year or a much less-good year for gold. Now the World Gold Council is signaling that the direct economic impact of gold in 2012 was $210 billion in value added to global GDP. The new report was put together by PwC and was commissioned by the World Gold Council. It showed that the direct economic contribution of gold in the world’s major gold producing and consuming countries measured the entire value chain of the gold industry. Mining and refining were considered, along with consumption at the economic level.........................Full Article: Source