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Show Notes

Matthew breaks down the global distribution of gold, analyzing central bank holdings, private bullion, jewelry, and industrial gold. He highlights how central banks and major institutions hold approximately $3.3 trillion worth of gold, while private bullion totals around $4.3 trillion. Together, this makes up about $7.6 trillion in total bullion. Additionally, jewelry accounts for $8.7 trillion, making gold jewelry the largest component of available gold. Industrial uses, including electronics and dentistry, add another $2.9 trillion. Summing all these components, the total value of all mined gold is approximately $19.3 trillion. Matthew also discusses the difference between bullion as a store of value and jewelry as a more ornamental, yet still valuable, asset.